Most Kentucky manufacturers plan to hire in 2011, they told the Kentucky Association of Manufacturers. KAM’s 99th Annual Manufacturing Wage and Benefits Survey also found annual pay tops $50,000 for first time.
Kentucky is a manufacturing state. The sector employed more than 212,000 here as of August. While the commonwealth, like all other states, lost manufacturing jobs when the recession hit, there are good omens in the KAM survey findings.
Manufacturing employees made an average $51,771 in 2010, up from $48,277 in the 2008-09 survey, a 7.2 percent increase. The average manufacturing wage has grown 49 percent from $34,736 in 2000, increasing each year.
According to the survey, 57 percent said they play to hire up to 20 employees in the coming year.
“Growth in the manufacturing industry will be critical to Kentucky recovering from the global economic crisis, and this survey shows manufacturers find Kentucky a positive place to do business,” Gov. Steve Beshear said. “In addition, businesses across Kentucky are able to maintain or add new jobs by taking advantage of the new incentives the state offers under my administration.”
The governor’s office announced last month more than 200 companies now have been approved for potential benefits through the Incentives for a New Kentucky economic-development program enacted last year. Active projects could result in 11,466 new jobs, 4,820 saved jobs and more than $1.8 billion in investment.
INK, which was detailed in August in The Lane Report, has borne substantial fruit.
KAM president & CEO Greg Higdon calls the annual survey a tool that helps commonwealth manufacturers control costs and compensate employees in a fair and competitive manner.
Temp hiring is rising dramatically. The survey found 68 percent currently use temporary staff as compared to 65 percent last year. However, 41 percent said they plan to hire temps versus only 3.4 percent last report.
The survey also found Kentucky manufacturers are recognizing green technology as a means to growth.
Some 43 percent of companies are producing green products, 40 percent are developing new green products, and 69 percent of employers are training workers to use energy more efficiently, reduce pollution, conserve natural resources and be more cost effective.
And They’re at the Post … Secondary
Good news in a report related to Kentucky’s push to raise education levels, which directly relate to income levels, an area in which the commonwealth lags national averages.
Between the high school classes of 2004 and 2008, the rate of college-going increased from 51 percent to 63 percent. And those who entered college in 2008 were better prepared than their 2002 counterparts: 38 percent of ’08 grads needed developmental work to take on college-level classes compared to 45 percent of ’02 grads; language skills had improved more than math. Another positive stat was the 43,362 high school grads Kentucky had in 2008, up some 5 percent over 2004.
These figures come from The Kentucky College and Career Readiness High School Feedback Report for the Class of 2008. The state Council on Postsecondary Education, Department of Education, Higher Education Assistance Authority and the P-20 Data Collaborative produced the report.
“We are pleased with these gains, but we know that serious challenges remain,” said CPE President Bob King.
The state’s top educators understand their job. Kentuckians’ average income is nearly 20 percent below the U.S. average.
“These data show improvement over the past few years, but we still have a lot of work to do. We must have stronger expectations in high school and college, and this work does not belong just to those institutions. Every parent, school, teacher, business leader and politician in Kentucky must work together to impact the future for our children,” said Education Commissioner Terry Holliday.”
The Lane report’s year in review
January
- Economic Outlook: Kentucky leaders expect slow progress
- Equine industry’s correction worsens as lenders tighten up
- Start-up slam program generates new companies instantly
- Economic commentary: Earnings will rise, but capital not there to drive growth
February
- Local flavor builds commerce on Louisville’s Frankfort Ave.
- Economic shift from manufacturing to R&D puts a premium on patent law practice
- Chilton & Medley merger with Mountjoy & Bressler creates statewide CPA network
- Kentucky 36th nationally in venture capital fund investment
- One on One: Steve St. Angelo
March
- Recessionary ‘triple whammy’ wallops city, county revenues; worst yet to some
- E-town bank boosts bottom line with military allotment
- Dean Dorton Ford succeeds through professional development, embracing change
- Economic commentary: Long-term U.S. prospects dismal unless political leaders find will to act responsibly
- One on One: Kennedy Helm III
April
- Enhanced Ohio River bridges will alleviate U.S. transport and commerce chokepoint
- Responding to recalls, Toyota gives its top Kentucky exec key quality control oversight role
- Six Kentucky hotels earn one of AAA’s highest ratings for service with style
- Six marketing steps to take your company to the next level
- One on One: Marcheta Sparrow
May
- The Lane Report’s 25th Anniversary: Our friends wish us well
- Centre College sets the bar high, and tops it with a culture of enthusiastic achievement
- Mayfield’s Mid-Continent
- University grows adult Kentucky grads by sending faculty to the student
- Economic commentary: Bloc forming at the Fed will resolve monetary debate in favor of inflation
- One on One: Ed Lane
June
- Ball Homes climbs the national Builder 100 list during downturn
- Going Green: The Lane Report launches monthly advice from professionals
- Digital real estate: Up to closing, buyers and sellers can handle transactions paperlessly
- Incentives make rehabbing historic buildings pay off
- Kentucky looks for technology business at BIO in Chicago
- One on One: Retrospective
July
- Years of World Equestrian Games planning enter execution phase at Kentucky Horse Park
- Kentucky road builders worry about ability to fund system
- Keeneland allies with one of the nation’s oldest luxury resorts
- Housing Authority turns $20 million grant into a sparkling $100 million neighborhood
- One on One: Kenneth Troske
August
- Kentucky’s unique 10-year-old ag development fund is diversifying state’s rural economy
- Utilities modeling smart-grid technology they expect to roll out within five years
- Kentucky’s new business investment incentives attract $3.1 billion in deals in first year
- Cuba remains a tough nut to crack for Kentucky exporters
- IdeaFestival fosters creativity essential to grow Kentucky business
- One on One: Vickie Yates Brown
September
- Kentucky colleges meet demand for horse-oriented degrees
- Life science lab gains traction with product predicting patients’ therapy outcomes
- Kentucky Horse Park is hub for national equine organizations
- One on One: Meg Jewett
October
- A new flight plan: Effort to boost competition, air service at CVG could lift LEX, SDF too
- Texas Roadhouse finds success by investing in its employees
- Kentucky Chamber members investigate China’s booming economy and markets
- Murray State opens new career path for music enthusiasts
- One on One: Jude Thompson
November
- Louisville Arena Authority board creates Kentucky’s new economic engine
- Kentucky brewers, restaurants tap growing interest in craft beers
- The people of the Alltech 2010 FEI World Equestrian Games
- Economic commentary: U.S. needs a weaker currency to bring growth back to economy
- One on One: Jim Host
December
- Kentucky Heathcare
- Prescription: Innovation – Reform, market forces driving realignment
- Entrepreneurship effort aims to make Louisville world’s long-term care leader
- Workplace bullying costs business billions
- Kentucky has nation’s first net-zero school
- One on One: Dr. Paula Grisanti