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7 Things to Know About Massachusetts Manufacturers

Posted by IndustrySelect on Tuesday, November 12, 2019

100066_bostonResearching your market is a vital facet of discovering and nurturing new prospects. For those looking to do business with Massachusetts manufacturers, IndustrySelect’s database of 400,000 U.S. manufacturers is your go-to resource help understand the specific challenges and opportunities contained within a given segment and to develop leads.

Today we’re bringing you the latest data on Massachusetts manufacturers and sharing some essential insights provided to us by the state’s industrial companies.

1. Massachusetts Manufacturers Are Shedding Jobs

Massachusetts is currently home to 7,112 manufacturers that employ 355,576. Over the past year, the state’s industrial companies shed 6,299 jobs altogether, or about 1.7%. Losses were led by the state’s industrial machinery sector, which declined by 4.5% and ranks as the state’s top industrial sector by jobs, employing 49,939 workers.

2. Massachusetts Manufacturers Embrace Technology

The Bay State ranks 1st in the nation for education and 3rd in the nation for innovation & technology, according to CNBC’s Best States for Business 2019. Home to MIT and Harvard, Massachusetts has its pick of innovators and the state’s manufacturing sector reflects that, with strongholds in medical and surgical instruments, electronics and pharmaceuticals.

Employment losses in Massachusetts’ manufacturing sector were offset by gains in the the medical instruments sector, which posted a 1.9% increase, and currently ranks second in the state with 44,335 jobs. Chemical manufacturing, including pharmaceuticals, also posted significant gains, up 2.21 to 26,186 jobs

Businesses and salespeople who specialize in software and advanced manufacturing technologies may find Massachusetts to be an appealing market.

3. Manufacturers in Massachusetts Struggle With High Business Costs

On the other hand, the state gets an “F” for cost of living, and corporate tax is high, according to the CNBC study. This has plagued some of the state’s more traditional sectors, while industries representative of the state’s focus on tech and innovation, are on the rise, contributing to a historic 5.6% surge in real GDP back in 2017

Those looking to do business with Massachusetts manufacturers should be mindful of cost-cutting technology or measures that can be brought to the table.

4. Massachusetts Manufacturers Are Contenting With a Skills Gapbaxter_robot

1.3% of companies in IndustrySelect’s database of Massachusetts manufacturers reported sales growth over the year, while 3% reported employment growth. Although sales are slightly ahead of the 1% growth reported by manufacturers nationwide, the Bay State falls short of the 4% of manufacturers in the U.S. reporting job growth.

Although this may be due to automation on the factory floor, the skills gap in Massachusetts is very real, even with the high number of skilled workers already present in the state. The Associated Industries of Massachusetts recently reported in its Outlook 2019 Viewpoint that the state still retains a critical need for more skilled labor, especially as older workers head toward retirement.

Those who specialize in staffing and training may benefit from the unique labor needs exhibited by Massachusetts manufacturers.

5. Boston is Booming

Boston remains the state’s top city for number of industrial jobs, employing 16,213. This is 4.1% higher than a year ago, according to MNI. Boston is a top destination for high-tech enterprises, given its proximity to institutions such as MIT and Harvard. Currently there are 241 manufacturers in Boston.

Looking at geographic data collected by MNI, Andover claims the #2 spot in the state with 12,334 manufacturing jobs, up 5.2% over the year. Cambridge and Hopkinton ranks third and fourth, respectively, with 11,441 and 11,036 jobs.

MNI reports Central Massachusetts accounts for the most industrial jobs in the state, accounting for 47%. Northeast Massachusetts accounts for 29% of the state’s industrial workforce, while Southeast Massachusetts accounts for 13.1%. Western Massachusetts is home to the fewest jobs, at 10.7%.

6. Massachusetts is Home to a Diverse Industrial Sector

Massachusetts is home major companies in the electronics, pharmaceutical, and software development, sectors. Below, we have listed the top 6 industrial employers in Massachusetts, based on MNI data:

Largest Massachusetts Manufacturers by Employees:

Dell EMC (Hopkinton) - 10,000 employees
Raytheon Co. (Andover) - 4,000 employees
Gillette Co., The (South Boston) - 3,000 employees
EBSCO Information Technologies, Inc. (Ipswich) - 3,000 employees
Biogen, Inc. (Cambridge) - 3,000 employees
Staples, Inc. (Framingham) - 3,000 employees

Other facts to know about Massachusetts manufacturers, based on IndustrySelect’s advanced criteria available to subscribers:

• 2.1% of Massachusetts manufactures are women-owned
• 0.5% are minority-owned
• 9.7% are publicly-owned companies
• 13.5% import materials
• 35% distribute internationally.

 7. Ways to Contact Massachusetts Manufacturers

Looking to reach out to Massachusetts manufacturers? An IndustrySelect subscription can put you on a first-name basis with Massachusetts 7,500 industrial companies and 23,000 executives. Subscribers can select up to 30 data points on any manufacturing company in the U.S. to help identify or pre-qualify leads. Company profiles also include the contact information for hard-to-find executive decision-makers. Try a free demo today!

 

 

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