Tag Archive: Economy

  1. HVAC Industry

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    The last few years have been tough for all industries, but as the economy starts to pick up, so too will the HVAC industry. There are a few reasons why this industry in particular will see steady growth until at least 2019.

    One of the most important drivers for the HVAC industry’s growth will be the focus on energy savings. Consumers like to know that they are doing their part and the added bonus of saving money is a big factor as well. In addition, governmental guidelines will also influence builders to meet certain criteria. This area will see boosts from new installations of energy efficient systems as well as upgrades to existing systems.

    Mobile technology will also help push the HVAC industry farther. The ability to check on a system remotely and to see input data, parts used, and even inspection information will greatly improve efficiency.  Mobile technology will also help drive the amount of data that the consumer and the operator will be able to share.  This is result in increased business for the contractor as happy consumers, are more likely to repeat business.

    In addition to upgrades and new installations in current buildings, there will be many new installation opportunities thanks to the budding construction industry. As new homes and office buildings are constructed, HVAC systems will are sure to be integral. Targeting hospitals, telecom centers, light and heavy commercial buildings, will surely help boost the HVAC industry.

  2. North Carolina Manufacturing Facts

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    For over 50 years we have provided North Carolina and the surrounding areas with cutting precision gaskets for MRO applications and OEM and MRO products for different markets. As we continue to be a key player in the manufacturing industry in North Carolina, we would like to note that manufacturing plays an important role in our state.

    An extensive number of companies make up a diverse group of manufacturers in the state of North Carolina. According to the National Association of Manufacturers, the total manufacturing output in North Carolina was $76.8 billion as of 2009, and employed approximately 431,400 manufacturing workers in 2010.

    North Carolina’s manufactured goods exports are the most robust part of the state’s economy, contributing tremendous amounts of revenue through taxes and diverse employment. Additionally, 89 percent of North Carolina manufacturers are small businesses, showing that smaller companies have the ability to succeed in the state. To further support manufacturing in North Carolina, we can look at the growth in exports since 2003. Exports grew 50 percent in North Carolina, significantly driving the state’s economy and leading to a higher quality of life for residents.

    Manufacturing continues to boom in North Carolina, with President Obama visiting in early 2014 to present a new high-tech manufacturing hub. The Next Generation Power Electronics Innovation Institute in North Carolina is an organization that was created to bring companies, educational organizations, and federal research together to create new electronic products.

    As manufacturing continues to expand in the U.S., North Carolina offers manufacturers an attractive location to produce their goods. Support from the federal government, educational organizations, and local businesses mean that manufacturing will be able to continue to flourish for years to come. The benefits of manufacturing in North Carolina will continue to positively impact the local and national population.

  3. Manufacturers Are Optimistic About 2014

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    The leading buying association for midsized manufacturers, Prime Advantage, conducted an annual survey of its member companies’ CFOs. Overall, expectations are up compared to last year. Prime Advantage found that 46% of the CFOs feel more optimistic about the US economy outlook for 2014 than they did the year prior. While, only 14% said that they felt less optimistic. Almost all CFOs felt that the US manufacturing would either improve or remain the same for this year. CFO’s are also very confident about their own companies, with 89% projecting that their companies will do well this year.

    Fueling the optimism about their own companies is that they all forecast a positive customer outlook. All CFOs who responded expected to see growth from their key customers and 54% reported a higher new order pipeline, with only 3% not expecting the same growth.

    Another area that CFOs are hoping will boost their business is the cutting of operational costs and advancements in their R&D to provide new products and services.  62% of those surveyed stated that seeking new markets was a top priority. Further, 65% of the member companies are confident enough in their companies to increase hiring for this year and 75% are planning to increase wages.

    Strong optimism for midsized manufacturers is a effective barometer for optimism across many industries and the economy at whole. With increased hiring and advancements in R&D, we can expect to see a strong year for US manufacturing.

  4. A Record Year for Auto Sales

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    Last year was a record year for the auto industry, which seems to have finally bounced back from bailouts and recession woes. Americans were out in full force buying new cars and trucks, a far cry from the near hopeless automotive sector of 2008. The most popular vehicle of the year proved to be Ford’s F-150 truck, which sold 763,402 models in 2013, about 40% of the entire truck market. Overall, 15.6 million vehicles were purchased in the U.S., prompting an 8% increase in auto sales year over year. These strong sales were not only good for the automakers themselves, but our economy as a whole.

    Jerry Hirsch of the LA Times notes that “Car companies and parts manufacturers have added more than 173,000 jobs over the last four years and now employ more than 826,000 workers in the U.S., according to federal jobs reports. That’s still down from the 1.1 million before the recession, but it represents vital growth, economists said.” That’s big news for a nation that has been struggling with unemployment for the better half of a decade. More demand has sparked production across the country, employing workers and bringing new business to manufacturers throughout the supply chain. Interest in new cars and trucks does not seem to be waning either: this year’s Detroit Auto Show had the highest attendance record in its history.