Implementation has potential to boost manufacturing GRP up to $1.5B annually by 2025
During a virtual event this morning, Northeast Ohio manufacturing companies and solution providers joined the working group behind the “Additive Manufacturing Roadmap for the Northeast Ohio Region” to discuss how incorporating additive manufacturing (AM) could lead to business growth as well as generate significant lift in the region’s manufacturing gross regional product (GRP).
Early projections, based on national forecasts developed by Lux Research, show that implementation of AM in five manufacturing sub-sectors – Medical/Dental, Transportation Equipment, Metal, Plastics/Rubber and Construction – can impact regional growth ranging from $500 million to $1.5 billion GRP by 2025.
“Today, manufacturing is a $46 billion industry and employs more than 248,000 workers across more than 7,700 manufacturing facilities in Northeast Ohio,” said Jay Foran, senior vice president of industry and innovation at Team NEO. “Given today’s global competitive marketplace, it is critical to engage small and medium manufacturers on the transformative impact AM could have on their business.”
Foran leads the AM Roadmap Project Team, a collaboration of Team NEO, the Youngstown Business Incubator, MAGNET, America Makes, prominent manufacturers (both end-user and supply-chain companies) and leading academic institutions. The team spent more than four months identifying and quantifying AM implementation opportunities in the Northeast Ohio Region using the Team NEO In-Seven® Road Mapping Process. The resultant roadmap recommends a path forward for developing a regional AM commercialization strategy, tactical framework and plan of action that leverages Northeast Ohio’s rich manufacturing heritage, unique assets and talented workforce.
Manufacturers are encouraged to get involved in the initiatives identified in the roadmap by participating in the Smart Manufacturing Cluster of Northeast Ohio. The cluster will also serve as the platform to help engage and inform manufacturers about the Manufacturing Blueprint, a ten-year vision for the Northeast Ohio Region’s manufacturing community released earlier this summer by MAGNET. “We believe AM is a transformative technology that can have a profound impact in the development of new products and processes,” added Foran. “Implementation of AM will help manufacturers, and our region, be more competitive in the global marketplace and help us lead the world in smart manufacturing.”
About The Smart Manufacturing Cluster of Northeast Ohio
The Smart Manufacturing Cluster of Northeast Ohio accelerates the growth and competitiveness of the Northeast Ohio economy through smart manufacturing implementation and innovation that leverages the region’s rich manufacturing heritage, unique assets, and talented workforce. We lead the development of innovation roadmaps and serve as the platform for the regional Manufacturing Blueprint to accelerate adoption and maximize the value of technology. We connect knowledge, experience, tools, and networks with manufacturers to generate demand, increase productivity, spur product innovation, and develop talent and resources necessary to drive technology implementation and innovation. To learn more, visit smartmanufacturingcluster.org.
About Team NEO
Team NEO is a private, nonprofit economic development organization accelerating business growth and job creation throughout the 18 counties of the Northeast Ohio Region. As the designated JobsOhio Network Partner, we align and amplify local economic development efforts in the region’s 18-counties; we conduct research and data analysis to inform local conversations and influence solutions; we market the Northeast Ohio Region; and we work to increase access to jobs, education and training for the region’s 4.3 million people. We do this to build a more vibrant regional economy; one that is more talented, equitable, competitive, innovative, resilient and prosperous. For more information, visit teamneo.org.
JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio through Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter and Facebook.