Startling Results of Boston Consulting Group Manufacturing Study Confirms U.S. "Manufacturing Renaissance"

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Founder of Economic Impact Rating Excited But Not Satisfied; More Jobs Needed

Economic Impact Rating

The rise in production and job creation is heading in the right direction but many breadwinners are still struggling to find work.

Last week, the Boston Consulting Group published a report that named the U.S. a ‘rising star’ in global manufacturing competitiveness. Nightly news broadcasts across the country lauded the findings and confirmed what many members of the media are calling the "Manufacturing Renaissance" of America.

Creator of the Economic Impact Rating, Anthony Comito, feels more can be done to reshore manufacturing to the United States.

The Economic Impact Rating, a patent-pending third-party certification program that evaluates a product's contribution to state, regional or the US economy, is one of those things that can be done. The EIR mark is placed on a product’s packaging or advertising so consumers are able to see which purchases have the highest economic impact.

“People are worried about jobs, unemployment and the economy,” declares Comito. “Companies that display an Economic Impact Rating Certification Mark are showing consumers that they support jobs and economic growth in their area—giving consumers something concrete that they can do about the problem.”

According to the press release from Boston Consulting Group, the report utilized a new tool – called the Global Manufacturing Cost – Competitiveness Index – to track changes in production costs over the last decade in the world’s 25 largest goods-exporting nations.

The index is based on four direct economic indicators of manufacturing competitiveness:

  •     Wages
  •     Productivity growth
  •     Energy costs
  •     Currency exchange rates.

BCG found that the U.S. has significantly improved relative to other leading exporters across the globe due to reduced energy costs. There has been a 50 percent reduction in the price of natural gas since large-scale production of U.S. shale gas began in 2005.

The nascent revival of manufacturing in the U.S. accounts for the "Manufacturing Renaissance" title. “The economic environment in the United States is more conducive to job creation than it has been since 2008,” concludes Comito. “The rise in production and job creation is heading in the right direction but many breadwinners are still struggling to find work."

The Economic Impact Rating's goal is to make being an impactful company profitable, by giving consumers the information they need to support such companies. The rating is the scientific and trusted way to find products that support jobs and economic growth in your area. For more information, follow them on Twitter or on Facebook.

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Anthony Comito