The website MSNBC (2/7, Schoen) reported, “The U.S. manufacturing sector is roaring back after the worst recession in generations. So why aren’t factory jobs coming back as quickly?” A “big reason” is that “business executives like Drew Greenblatt, owner of Baltimore-based Marlin Steel Wire Products, have figured out how to make more widgets with the same number of workers. To do so, he’s had to upgrade the skills – and wages – of his employees. But his profits are bigger than ever.” MSNBC added that last year the company “installed $700,000 worth of robots, continuing a steady process of automation Greenblatt began when he bought the company in 1998,” and “revenues and profits were up 12 percent – his best year since buying the company in 1998. That year, Merlin Steel did $800,000 in sales with 18 workers. Today the company has 25 employees and does $3.9 million in sales, exporting to 33 countries.”
This concept definately falls in step with what we’ve been preaching about 3d scanning and 3d printing. These technologies assist manufacturing in producing better products, more quickly. Have a newer products on the market faster tends to spawn more consumer spending and thus improves the overall economic outlook.