BY CARROLL THOMAS ON · U.S. MANUFACTURING
“On Monday, December 5, 1791, the Secretary of the United States Treasury, Alexander Hamilton, submitted his Report on Manufactures: Communication to the House of Representatives. Hamilton’s report, commissioned by Congress, passionately and thoroughly laid out how the United States could gain specific economic advantages by encouraging the growth of manufacturing in the newly formed United States of America. Hamilton asserted that manufacturing would bring the added diversity of employment opportunities with increased productivity from using machinery and employment of technical skills…
Fast forward to today, where last year alone the manufacturing sector contributed $2.2 trillion (about 12%) to the $18 trillion-dollar U.S. economy.i Manufactured goods accounted for 89% of all U.S. exportsii and has grown at a faster rate than the rest of the economy since the 2008-2009 recession. For every $1 manufacturing contributes to the economy, it supports an additional $1.81 in economic activity, greater than any other sector.”
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