Medical Manufacturing
Northeast manufacturing boasts enormous growth within their medical manufacturing industry. With the successful creation and distribution of COVID-19 vaccine by Cambridge-based firm Moderna, the medtech world in New England is thriving. Massachusetts specifically beats every other state when it comes to medical product exports with over 500 companies dedicated to medtech and close to 25,000 people working within the sector. With biotech, pharma, and medical manufacturing, Massachusetts is a global leader in the medtech world. According to experts, Massachusetts is experiencing an economic rebound as a faster pace than the national economy.
But it isn’t just Massachusetts that found growth within medical manufacturing. Plastics manufacturers were able to quickly transition into the production of PPE, a necessity that was scarce with concerns of COVID. Doing this caused companies to upsize rather than downsize in 2020. Many states within the northeast are actively looking to expand their workforce with new jobs in biotech and medical manufacturing.
Wind Industry
Most northeast states are producing energy and economic growth from offshore wind turbines. New Jersey, New York, Massachusetts, Rhode Island, Connecticut, Maryland, and New Hampshire are committed to buying megawatts of offshore electricity to power an estimated 20 million homes by 2030. Large-scale wind projects are in the early planning stages but are expected to rapidly take off creating new jobs and sustainable energy. Not only does this renewable energy source create more affordable electricity, but it also creates a greater need for industrial manufacturing and helps strengthen the existing supply chain and workforce.
Aerospace
Aerospace and defense manufacturing is a growing industry and felt a decline in the early days of COVID-19. With passenger air travel restricted the aerospace industry saw a downturn. Shifting to aerospace and defense manufacturing from only commercial aviation manufacturing helped Connecticut reduce their expected loss. Aerospace, defense, and transportation manufacturing is now the highest yielding industry in the state. With new opportunities and a wider focus, these companies are expecting to increase hiring and return to normal.
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