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Memphis, Tenn., has manufacturing momentum

from Memphis Business Journal

While national unemployment continues to hover around 8 percent, little bits of positive signs continue to poke through. According to a story by The Associated Press, industrial production increased 0.6 percent in July. The report, which was released by the Federal Reserve, states factory output, including production of cars, computers and airplanes, increased by 0.5 percent in July. Factory output has risen 21.9 percent since its recession low in June 2009 and is just 1.7 percent below the prerecession peak for factory output reached in April 2007. In Memphis, Tenn., manufacturing jobs continue to increase. High-profile projects like Electrolux Home Products and Mitsubishi Electric Power Products are expected to create more than 3,500 direct and indirect jobs when those facilities get up and running. more


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