Staying ahead of spending trends and external economic forces on our industry is a necessity in staffing. In many ways, the staffing industry acts as a proverbial canary in a coal mine for economic growth and decline. Because of this, it is critical for companies such as DAVIS to remain informed pertaining to where the US manufacturing spend is heading. Knowing what industries and geographies are beginning to see influxes in government investment allows our company to remain above market fluctuations.
Today, we decided we would share with you one of the many tools we use to track these trends and assess threats and opportunities. How does your state rank in Governmental Manufacturing spend?
Top 5 states include:
- California — $890,425,631.85
- Virginia — $606,109,254.16
- Michigan — $596,246,371.63
- Illinois — $249,493,554.88
- Maryland — $179,291,380.57
Fun fact: Nearly 25% of the $4,331,552,158 committed to projects thus far in 2016 have been awarded to small businesses.
How does your industry rank against the top earners for government contracts this year?
Top 5 product/service categories include:
- Drugs and Biologicals — $662,804,183.84
- Passenger Motor Vehicles — $626,840,845.59
- Precious Metals Primary Forms — $571,552,637.23
- Medical and Surgical Instruments, Equipment and Supplies — $493,215,177.76
- Information Technology Software — $433,858,243.48
Give our tool a try… You might find some unique opportunities for your own company!