{"id":33506,"date":"2019-05-09T12:09:14","date_gmt":"2019-05-09T16:09:14","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=33506"},"modified":"2019-05-09T17:18:22","modified_gmt":"2019-05-09T21:18:22","slug":"prosperity-partnership-index-saratoga-is-outpacing-the-state-in-manufacturing-jobs","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2019\/05\/prosperity-partnership-index-saratoga-is-outpacing-the-state-in-manufacturing-jobs\/","title":{"rendered":"Prosperity Partnership Index: Saratoga Is Outpacing The State In Manufacturing Jobs"},"content":{"rendered":"<figure id=\"attachment_33507\" aria-describedby=\"caption-attachment-33507\" style=\"width: 901px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-33507\" src=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2019\/05\/prosperity-meeting-hc.jpg\" alt=\"\" width=\"901\" height=\"666\" srcset=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2019\/05\/prosperity-meeting-hc.jpg 901w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2019\/05\/prosperity-meeting-hc-300x222.jpg 300w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2019\/05\/prosperity-meeting-hc-768x568.jpg 768w\" sizes=\"(max-width: 901px) 100vw, 901px\" \/><figcaption id=\"caption-attachment-33507\" class=\"wp-caption-text\">Leaders from the manufacturing sector discuss the inaugural County Manufacturing Index.<br \/>Courtesy Saratoga Prosperity Partnership<\/figcaption><\/figure>\n<p>Saratoga County is outpacing the Capital Region and New York state in jobs, wages and economic impact in the manufacturing sector, according to the inaugural Saratoga County Manufacturing Index released in April by the Saratoga County Prosperity Partnership.<br \/>\nOfficials said at the same time, it reveals a need for heightened workforce development initiatives to ensure the presence of skilled employees to sustain its growth.<!--more--><br \/>\nThe Saratoga County Manufacturing Index was unveiled during a luncheon event attended by more than 130 business executives and professionals at the Gideon Putnam Hotel in Saratoga Springs.<br \/>\nWith 140 companies employing more than 8,100 workers\u2014led by semiconductor manufacturer GlobalFoundries in Malta\u2014Saratoga County has the most manufacturing jobs of any Capital Region county, according to the index. Nearly 3,700 of those jobs are directly supported by exports, which total over $1.3 billion worth of goods annually.<br \/>\nManufacturing represents 21 percent of the Gross Regional Product (GRP) in Saratoga County, officials said, a 5 percent increase over the past decade. That is more than double a 2 percent increase in the region, where manufacturing accounts for 11 percent of GRP.<br \/>\nDuring the same period, manufacturing declined 1 percent statewide to 5 percent of Gross Domestic Product (GDP), and dropped 2 percent nationally to 11 percent of GDP, the index indicated.<br \/>\nAdditionally, the average annual wage for manufacturing jobs in Saratoga County of $88,440 has risen 79 percent since 2001, eclipsing increases in the Capital Region (70 percent), New York (48 percent) and the U.S. (55 percent). Those wages are more than $43,000 higher than non-manufacturing private-sector jobs, which also represents the highest level in the region and is far above the state.<br \/>\n\u201cThe Saratoga County Manufacturing Index paints a vivid picture of the importance of this industry to the county\u2019s economy, spearheaded by the presence of GlobalFoundries. We need to double down on efforts to build a pipeline of skilled talent to enable that growth to continue,\u201d said Marty Vanags, president of the Saratoga County Prosperity Partnership.<br \/>\n\u201cThe Saratoga Partnership is playing a critical role in facilitating and supporting educational and training programs and public-private partnerships essential to developing a workforce that will sustain our momentum.\u201d<br \/>\nReflecting a nationwide challenge, the index measured an unemployment rate in Saratoga County\u2019s manufacturing industry that matched the sector\u2019s national jobless rate of 10 percent.<br \/>\nOfficials said that reality is creating the need to enhance workforce development efforts, including K-12 and higher education programs, training and apprenticeship opportunities, and public-private partnerships that leverage existing resources to build an ecosystem of skilled employees.<br \/>\nThe Prosperity Partnership said other takeaways from the index include:<br \/>\n\u2022 Manufacturing is the fourth-largest private-sector employer in Saratoga County, representing 11 percent of total employment.<br \/>\n\u2022 The semiconductor industry (2,599 jobs) is the leading manufacturing employer, followed by chemicals (1,278), printing (890), paper (518) and fabricated metals (501)<br \/>\n\u2022 Nearly half of manufacturing jobs in Saratoga County\u20143,678\u2014are directly supported by exports<br \/>\n\u2022 Statewide, the biggest exported New York products by percentage are miscellaneous manufactured commodities (39), followed by semiconductor (12), primary metals (9) and chemicals (9)<br \/>\n\u2022 Statewide, the leading foreign countries that receive exported New York products by percentage are Canada (14), Hong Kong (12), Israel (8), the United Kingdom (7) and Switzerland (7)<br \/>\n\u201cIt is exciting to see the significance and growth of Saratoga County\u2019s manufacturing sector, and to know we are well positioned to pursue new opportunities going forward,\u201d said Kevin Hedley, chairman of the Saratoga County Prosperity Partnership. \u201cThe index highlights the importance of the Saratoga Partnership\u2019s efforts to drive workforce development initiatives that have long-lasting economic impact.\u201d<br \/>\nThe release of the index was followed by a panel discussion that featured leaders from the manufacturing sector. Panelists included Mark Dougherty, vice president of Advanced Module Engineering at GlobalFoundries; Chad McKissick, plant director at QUAD\/Graphics; and Peg Murphy, corporate secretary and director of human resources at Espey Manufacturing.<br \/>\nFor more information, visit www.saratogapartnership.org.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saratoga County is outpacing the Capital Region and New York state in jobs, wages and economic impact in the manufacturing sector, according to the inaugural Saratoga County Manufacturing Index released in April by the Saratoga County Prosperity Partnership. Officials said at the same time, it reveals a need for heightened workforce development initiatives to ensure [&hellip;]<\/p>\n","protected":false},"author":196,"featured_media":33507,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-33506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Prosperity Partnership Index: Saratoga Is Outpacing The State In Manufacturing Jobs - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2019\/05\/prosperity-partnership-index-saratoga-is-outpacing-the-state-in-manufacturing-jobs\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Prosperity Partnership Index: Saratoga Is Outpacing The State In Manufacturing Jobs - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"Saratoga County is outpacing the Capital Region and New York state in jobs, wages and economic impact in the manufacturing sector, according to the inaugural Saratoga County Manufacturing Index released in April by the Saratoga County Prosperity Partnership. 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