Manufacturing: A Critical Building Block of Our Strong and Diverse Local Economy
In the past several weeks, many have noted the vibrancy of Thurston County’s economy, the growth in terms of employment, emerging markets, and the development of new sectors expanding our region’s economic conditions. Two decades ago, the local economy was easily and rightfully defined as being characterized as a “government town.” Most wages and employment were within the public sector – this has shifted.
Thurston EDC began tracking this shift following the great recession of 2008/2009. Since this dramatic time, the public sector has expanded by approximately 12%. The private sector component of our region expanded by over 34%, resulting in an economic condition that today is deserving of those recent rankings that have identified Thurston County as a “tier 1 city” and a top 10 ranked city for our local economy compared against all metropolitan areas in the United States.
One of our region’s main economic activities is a relatively unknown or unrecognized sector – manufacturing. While most employment sectors have increased and decreased over time, the manufacturing sector has remained a consistent and significantly stable sector of our economic makeup. Since 2018, the manufacturing sector has maintained strength and consistency. While it is not the largest sector, it is one of the most consistent providers of strong wages. When considering the impact of manufacturing, note that nearly all of the products produced/manufactured in Thurston County are for markets outside our region – as such, it continues to be a critical additive and infusion of capital into our local markets. Every dollar of finished product created here generates, in general, $1.37 in the local economy.
Products like finished concrete products engineered and stock steel, high-pressure industrial water pumps, industrial cutting and processing parts, advanced microscopy products used in biotechnology and research, engineered wood structures, housing trusses and more are all manufactured in Thurston County. These products are shipped throughout the Pacific Northwest, the country and to international markets.
Manufacturing is a critical component of our local economy – and one that supports our communities and is significant to how we build a strong, vibrant, and inclusive local economy.