2023 Benchmarking Indiana’s Advanced Manufacturing and Logistics Industries Report: Identifying Opportunities for Workforce Development and Transformation
As the State of Indiana continues to strategically build an economic ecosystem ripe for advanced industry growth, new research led by Conexus Indiana and Lightcast forecasts employment growth of 5% to 10% in several priority advanced manufacturing sectors. The transportation equipment, chemical, and computer and electronic product manufacturing subsectors could add over 13,000 jobs to Indiana’s economy by 2026.
Conexus Indiana and Lightcast, a global leader in labor market analytics, today released “2023 Benchmarking Indiana’s Advanced Manufacturing and Logistics Report: Identifying Opportunities for Workforce Development and Transformation,” which analyzes job growth data in select advanced manufacturing and logistics industries. The report focuses on several high priority industry sectors that align with the Indiana Economic Development Corporation’s (IEDC) 5E vision, which includes a focus on the economy of the future in industries like microelectronics, life sciences, advanced mobility and clean energy.
In addition to data on projected industry and occupation growth in the advanced manufacturing and logistics industries, the report benchmarks Indiana’s employment concentration, Industry 4.0 skill demand and advertised industry wages against other Midwestern states, showing Indiana is competitive with, and in many instances surpasses, its neighboring states.
“Strengthening our advanced manufacturing and logistics industries has always been at the forefront of our work as a statewide organization, and for good reason: Manufacturing alone employed 533,877 Hoosiers and contributed $104 billion in Gross Regional Product (GRP) in 2022, making Indiana the most manufacturing intensive state in the nation,” said Ryan Henderson, director of Innovation and Digital Transformation, Conexus Indiana. “When we reviewed the data, we saw trends in several industry sectors that could contribute significantly to the overall expected growth in Indiana’s advanced manufacturing and logistics industries.”
The report’s key findings are based on a recently launched Industry Insights Dashboard, which includes data on wages, skill demand, educational attainment, 5-year industry and occupation growth rates, turnover and retirement rates and more. The dashboard provides customizable data on Indiana’s advanced manufacturing and logistics workforce and benchmarks many of these datapoints against bordering states. The dashboard can be accessed via the Conexus Indiana website and is available for use by the general public at www.conexusindiana.com/workforce-dashboard.