(Toledo, OH) 2017 could turn out to be a good year for Northwest Ohio manufacturers if one survey holds true.
The National Manufacturing Survey by LEA Global finds that 58 percent of American manufacturers are optimistic about their regional economy, which also projects good opportunity for growth locally.
The international accounting and consulting association surveyed more than 250 companies in several manufacturing segments. Smaller companies are more optimistic about their potential profits this year as opposed to bigger, global manufacturers. But the big challenge will be a shortage of skilled labor, with more jobs than available applicants.
Two-thirds of survey respondents expect their labor costs to increase, as they pay more to fill openings for machinists, welders, maintenance personnel, and others.