Mainebiz

December 16, 2024

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W W W. M A I N E B I Z . B I Z 11 D E C E M B E R 1 6 , 2 0 2 4 F O C U S M A N U FAC T U RI N G SPECIAL FUNDING OPPORTUNITY FOR MANUFACTURERS Reduce operating costs and improve facility performance through energy efficiency upgrades. Enhanced incentives available for projects that reduce fuel use at manufacturing facilities. Bonus incentives available for beneficial electrification and heat recovery projects. Time and funding limited! For more information visit efficiencymaine.com/manufacturer-thermal-efficiency-projects/ or email custom@efficiencymaine.com. U.S. manufacturers are estimated to have contributed $2.91 trillion to the economy this year. For every $1 spent in manufacturing there's an impact of $2.69 to the overall economy, according to the National Association of Manufacturers. But the majority of manufacturers are considered small businesses, with fewer than 500 employees. Which seems to be a good segue to some Maine-related facts. Manufacturers in Maine account for 10% of state GDP, employing 1 in 10 workers. Maine has an estimated 1,870 manufacturing firms Total output from manufacturing was $6.3 billion. There are 52,561 manufacturing employees in Maine, with an average annual compensation of $67,650. S O U R C E : National Association of Manufacturers, Manufacturing Association of Maine MAINE AS A MANUFACTURING STATE MAINE EXPORT DATA Value of manufactured goods exported from Maine: $1.93 billion Top 5 export markets: 1. Canada 2. El Salvador 3. Malaysia 4. Netherlands 5. United Kingdom 1 4 5 2 3

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