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Manufacturing is the third-most-productive industry in the U.S., yet many overlook the sector's value and its opportunity to contribute to a regional economy's prosperity. As believers in the potential of manufacturing, we challenge the myths and misconceptions and shed light on how manufacturing is a powerful asset to a diversified economy.

Check out our Manufacturing Myth-Busters series in the section below as well as our Industry Productivity Profile tool to compare the labor input and economic output for the manufacturing industry across 150 Extended Metropolitan Areas.

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November 26, 2024
Manufacturing Myth 1: Manufacturing Doesn’t Fit in a Forward-Looking Economy
Audiences of the Empowering American Cities project are sometimes surprised at the weight we place on the Manufacturing sector. That’s because the pervasive public narrative about U.S. manufacturing is largely untrue. As believers in the potential of manufacturing, we challenge the myths that have led many to overlook the sector's value and its opportunity to contribute to a regional economy's prosperity.
February 20, 2025
Manufacturing Myth 2: U.S. Manufacturing Jobs Were Lost Solely to Productivity, Not Trade
There is no doubt that U.S. manufacturing has historically had a more prominent role in driving American prosperity, yet the cause of its relative decline is often misunderstood. A proper framework for discerning the sector’s past challenges is essential to understanding the future of American manufacturing and its continuing opportunity to contribute to regional prosperity.
February 26, 2025
Manufacturing Infographic
This one-page info graphic provides quick takeaways to understand how manufacturing drives growth in local economies.
March 14, 2025
Myth-Busters Video
Our economists provide an overview of the Manufacturing Myth-Busters series.

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Contributors

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Fifth Third Bank

Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at...

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Kenan Institute of Private Enterprise

As an affiliate of UNC Kenan-Flagler Business School, we develop and promote innovative, market-based solutions to vital economic issues. With the belief that private enterprise is the cornerstone of a prosperous and free society, we foster the entrepreneurial spirit to stimulate economic prosperity and improve the lives of people in North Carolina, across the country and around the world.

Notices & Disclosures: The opinions expressed herein are those of Fifth Third and the Kenan Institute collaboratively and may not actually come to pass. This information is current as of the date of first publication and is subject to change at any time based on market and other conditions. This information is intended for educational purposes only and does not constitute the rendering of investment advice or research, or specific recommendations on investment activities and trading.
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