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Manufacturing Is Alive and Well in St. Louis
While U.S. manufacturing growth may have slowed in recent decades, its rate of growth and performance is not out of line with trends from other developed countries. In fact, eight countries account for about 82 percent of OECD manufacturing activity globally, according to economic research conducted by the Federal Reserve Bank of St. Louis. Of that activity, the United States accounts for around a third. Within the United States, St. Louis is a strong player in the manufacturing industry.
St. Louis's Robust Manufacturing Industry
According to the Bureau of Labor Statistics, manufacturing is the second largest farm industry employer in St. Louis, coming in after the mining, logging and construction sector. While the top employing sector lost 2.5 percent of its jobs from July 2017 to July 2018, manufacturing gained jobs at a rate of 1.4 percent.
The Missouri Economic Research and Information Center further classifies businesses in St. Louis into clusters. Top manufacturing clusters include food manufacturing, equipment manufacturing, chemical manufacturing and machinery manufacturing. Data published by the Center indicates that business isn't just alive and well for manufacturing companies in St. Louis — it's also a growing benefit for many employees in the sector. From 2009 through 2014, for example, wages in the chemical manufacturing space increased an impressive 24 percent.
St. Louis Is Home to Numerous Manufacturing Companies
The metro hosts several manufacturing companies, including global and national players such as Boeing, Ralston Purina and United States Steel Corporation. A history of manufacturing and a network of large and small companies makes St. Louis a large exporter of goods, both to the rest of the country and globally. While the industry is certainly well established in the area, there's always room for new players or business owners looking to take over from a seller.
Recent Manufacturing Business Sales in St. Louis
Another thing that's alive and well in St. Louis is the buying and selling of businesses. In the manufacturing industry, companies frequently change hands between private owners, equity firms and larger corporations. Some recent business sales and starts in St. Louis manufacturing are summarized below.
- American Piping Products, a steel distribution company, as sold to Center Rock Capital Partners LP, which is a private equity firm
- Adolphus Busch V, the heir to the Anheuser-Busch fortune, launched a disposable vaporizer pen product to enter the cannabis-related manufacturing market
- MasterPac Corp. was acquired by St. Louis-based VisiPak, which manufactures clear plastic packaging products
Getting Involved in St. Louis Manufacturing
The St. Louis manufacturing industry is one with staying power. It's been around for many decades and seems likely to stay put for many more; many of the businesses in the area have weathered recent economic storms and remain ready to export their goods. This overall stability makes manufacturing a good place for St. Louis entrepreneurs to invest in.
If you're looking to purchase a new business or get into the manufacturing sector in St. Louis, contact the brokers at LINK St. Louis. Call (314) 487-0005 or email email@example.com to speak to an experienced, professional business broker. They understand how to match buyers with potential business opportunities and have networks of owners looking to sell their companies.