Industry Spotlight: Morris County, NJ Manufacturing Sector
Morris County, NJ’s manufacturing sector takes center stage in driving economic prosperity, playing a pivotal role by contributing an impressive 11% to the county’s Gross Regional Product (GRP).
This dynamic industry, characterized by a harmonious blend of traditional and advanced methods, is a cornerstone of the local economy. Propelled by innovation, cutting-edge technology, and a highly skilled talent pool, it is the cornerstone for sustained growth and development in the region.
Economic Impact
The economic impact of manufacturing in Morris County is undeniable, boasting a robust GRP of $1.7 billion. This economic vibrancy is further underscored by over 8,426 employees across 477 companies spanning 159 diverse industries. The sector’s diversification is a numerical feat and a strategic move towards creating a resilient and sustainable economic foundation.
Commitment to Diversity
Morris County’s manufacturing landscape reflects a commitment to diversity, producing a wide range of goods, from pharmaceuticals and metals to plastics, production technology, and scientific instrumentation. This strategic diversification fortifies the local economy and positions Morris County as a versatile hub for manufacturing excellence—capable of weathering market fluctuations.
Skilled Workforce
Morris County’s manufacturing success is critical to its competitive costs and access to a highly skilled talent pool. The county has successfully attracted and retained top-tier talent, fostering a culture of innovation and expertise that drives advanced manufacturing processes, ensuring the county’s competitiveness on a global scale.
Notable Companies
Morris County proudly hosts an array of notable companies, including industry giants like Honeywell International, Astronautics Corporation, Arrow Electronics, and Schneider Electric. These companies significantly contribute to the county’s economic prosperity and elevate its global standing in the manufacturing sector, showcasing the county’s prowess in fostering industry leaders.
Earnings Insight
Delving into the cost of living-adjusted average salary earnings in various manufacturing sub-sectors provides nuanced insights into Morris County’s commitment to well-compensated, high-skilled employment:
- Cutting Tool and Machine Tool Accessory Manufacturing: $185,344
- Power-Driven Hand Tool Manufacturing: $156,820
- Elevator and Moving Stairway Manufacturing: $148,703
- Automobile Manufacturing: $148,687
- All Other Miscellaneous Electrical Equipment and Component Manufacturing: $145,906
- Special Die and Tool, Die Set, Jig, and Fixture Manufacturing: $123,152
These figures emphasize the county’s dedication to supporting a thriving workforce.
Top Sub-Sectors
As reflected by substantial economic figures, Morris County’s manufacturing sector demonstrates remarkable strength in various sub-sectors. The Light Truck and Utility Vehicle Manufacturing sub-sector leads the pack, boasting an impressive $499,291,757 in economic output. Iron and Steel Mills and Ferroalloy Manufacturing follow closely with $169,616,246, while Automobile Manufacturing contributes significantly with $144,497,718.
The Semiconductor and Related Device Manufacturing sub-sector also adds to the county’s economic prowess with $115,222,638. Other Motor Vehicle Parts Manufacturing and Aircraft Manufacturing contribute $79,811,013 and $86,661,576, respectively. These robust numbers underscore Morris County’s dominance and market impact in crucial manufacturing segments.
Total Top Sales
A deeper dive into the total top sales further unveils the economic dynamics driving Morris County’s manufacturing sector. Elevator and Moving Stairway Manufacturing leads in total sales with an impressive figure of $313,357,179. Other Communications Equipment Manufacturing follows closely, contributing significantly with $193,535,106. The Aircraft Engine and Engine Parts Manufacturing sub-sector adds substantial value with $191,338,931 in total sales.
Iron and Steel Mills and Ferroalloy Manufacturing also maintain a strong presence, with total sales amounting to $186,094,712. Other Aircraft Parts and Auxiliary Equipment Manufacturing and Motor Vehicle Metal Stamping contribute significantly with real sales figures of $136,240,068 and $135,735,072, respectively. These substantial sales figures highlight Morris County’s manufacturing sector as a key driver of economic activity, making significant contributions to the regional economy.
Infrastructure Advantage
Leveraging its existing freight rail infrastructure, Morris County ensures cost-effective and efficient transportation of raw materials. This strategic advantage reduces operational costs for manufacturers within the county and enhances Morris County’s overall competitiveness in the broader manufacturing landscape.
Book an Appointment with the MCEDC
Morris County, NJ, emerges as a beacon of manufacturing excellence, seamlessly blending innovation, talent, and strategic infrastructure. Its commitment to diversity, a skilled workforce, notable companies, and advantageous infrastructure solidifies Morris County’s status as a manufacturing powerhouse, driving economic growth and resilience in a global landscape characterized by rapid change.
If you are interested in learning more about the manufacturing industry in Morris County, or if you are looking to relocate your business to the area, please get in touch with the EDC today. We would happily answer any of your questions and discuss how membership, business counseling, and our resources will benefit your business.