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Don't call it a renaissance just yet, but pockets of New York City are experiencing significant job growth in manufacturing.
The number of jobs in Brooklyn is growing at twice the rate of the rest of the city, according to state data, Crain's reports. Food manufacturing accounted for the largest share of manufacturing jobs in the borough. Apparel manufacturing accounted for 18 percent of the jobs, and was the fastest-growing segment.
While steadily declining across New York state and the U.S., apparel manufacturing has been able to make inroads in New York City and other smaller cities. Fueled by rising production costs overseas, more small merchants and independent designers are opting to make clothing in communities such as Raleigh, N.C., which boasts a long textile history; and Fort Wayne, Ind., deep in the Rust Belt.
The "Made in USA" apparel movement is part of a larger re-shoring push, as more small to mid-sized U.S. businesses make and export goods as part of their business strategy.
Triggered by changes in wages and energy costs, the difference between China and U.S. in manufacturing costs—before transportation—has narrowed to less than five points, as recently measured by The Boston Consulting Group in an April report. A decade ago, that gap between the U.S. and China was wider at 14 points.
Exports continue to rise and reached record levels in March this year, according to the U.S. Census.
The U.S. and Mexico are experiencing dramatic shifts in manufacturing, according the consultancy's report. Those countries are gaining in manufacturing, aided by multiple factors including moderate wage growth, energy advantages and stable foreign-exchange rates.
Top exporting economies experiencing manufacturing pressures, according to the report, include China, Brazil and Russia.
Go here for the Crain's report.