The Springfield Region has a long history of growth and success within the Advanced Manufacturing industry. From stainless steel fabrication and remanufacturing to food processing, the region has put itself on the map as a viable location for the manufacturing sector.
Low Cost of Doing Business
The region’s low cost of doing business impacts businesses bottom line from power and building costs to distribution and labor costs. Manufacturers in the state of Missouri have access to industrial electricity costs that are nearly 10% lower than the U.S. average, at 6.22 cents per kWh (EIA, 2015). In the Springfield Region specifically, companies including plastic injection molders, metal fabricators, electronics manufactures and the like are able to access even lower rates — as low as 5 cents per kWh. The region’s central location makes it cost effective not only to bring in materials, but to distribute products as well, enabling business to serve a broader variety of customers out of one location.
Manufacturing employers are able to access a strong, experienced, and growing workforce in Springfield. In fact, manufacturer of components for stainless steel tanks and vessels, Tank Components Industries, found that by doing business in Springfield, they have been able to build a “dedicated, hard-working labor force with a strong Midwest work ethic.” Industry trends, based off of Bureau of Labor Statistics data reporting, indicate that the Springfield MSA manufacturing sector has added roughly 1,000 jobs in the last two years, and grown 23% since the recession. In fact, Springfield ranked 6th among midsize cities for manufacturing jobs in a 2015 study published by NewGeography.com. Using ten years’ worth of data to evaluate the revival of U.S. manufacturing, Springfield was among those leading the way for manufacturing employment growth and momentum.
Manufacturing Industry Growth
Companies continue to grow and expand in the Springfield Region. Most recently, Kraft Heinz announced plans to add new production lines and create 109 new jobs as part of a $44 million expansion project at the Springfield facility, the third major capital investment in this particular operation over the past four years. Another company, security and alarm manufacturer Digital Monitoring Products (DMP), recently began construction on a $7 million expansion at their facility in Partnership Industrial Center with plans to create 65 new jobs. DMP chose to grow in Springfield because of the availability of workforce to fulfill new high-quality jobs in manufacturing, engineering, and development.