Manufactured In VT Program Guide

2 O JOBS: In 2014, manufacturing employed 32,000 people, or 10.4% of Vermont’s total employment population. Source: U.S. Bureau of Labor Statistics O WAGES: In 2014, manufacturing paid average annual wages that were 29% higher ($55,290/yr) than the state average wage ($43,017/ yr). Total manufacturing wages paid in 2014 exceeded $1.725 billion. Source: VT Department of Labor, ELMI Division O STATE GDP: In 2015, manufacturing accounted for about $2.8 billion, or 9% of the state’s gross domestic product (GDP). Source: U.S. Bureau of Economic Analysis O EXPORTS: In 2014, manufactured goods exported by Vermont companies made up almost 71% of all Vermont exports or about $2.57 billion in total value. Source: U.S. Census Bureau Foreign Trade Division O ECONOMIC MULTIPLIER IMPACT: Every $1 in manufactured goods generates an estimated $1.37 worth of additional economic activity – the highest of any other sector. Source: Bureau of Economic Analysis, 2013 O EMPLOYMENT MULTIPLIER: Each manufacturing job supports an additional 1.6 jobs and each “Advanced Manufacturing” job sup- ports as many as 4.9 other jobs. Source: “Local Multipliers,” American Economic Review, Papers and Proceedings 100 VERMONT MANUFACTURING AT A GLANCE