A new economic impact study confirms that the motor vehicle parts manufacturers industry, made up of the original equipment, aftermarket, heavy duty and remanufacturing sectors, is the largest employer of manufacturing jobs in the United States. The industry directly employs more than 734,000 American workers and generates nearly $355 billion in GDP contribution, or 2.3 percent of the total U.S. GDP.
The study, released by the Motor & Equipment Manufacturers Association (MEMA) in collaboration with IHS, the leading global source of information and analytics, shows that the total employment impact for motor vehicle parts manufacturers in the U.S. was more than 3.62 million jobs in 2012.
“Motor vehicle parts manufacturers are the largest creators of manufacturing jobs in the nation. With a presence in all 50 states, this industry is important to the health and success of American manufacturing, and to the future of this country,” said Bob McKenna, president and CEO of MEMA.
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“The study conducted by IHS provides valuable information for policymakers on the industry’s overall impact on the U.S. economy,” said McKenna. “We hope the data will be used as a resource for our nation’s leaders to continue working to create a sustainable and vibrant manufacturing environment.”
The economic impact study is available here.