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Lending to manufacturers is on the rise in Minnesota

Posted by Denise Johnson • March 14, 2012 •

“The manufacturing industry has gotten healthy again,” said Craig Veurink, regional small business sales manager at U.S. Bank.

Loan balances for the bank’s machine tool equipment group jumped 78 percent last year, he said. Outstanding balances on lines of credit by manufacturers more than doubled. The boom in lending activity suggests expansion, not just periodic investment, Veurink said.

In addition to buying equipment, manufacturers also are borrowing to renovate existing buildings, purchase new ones, or buy land to build their own, said Darin Zielsdorf, a vice president in the Twin Cities office of Wells Fargo. A recent report by Cushman & Wakefield/NorthMarq found occupancy of Twin Cities-area industrial space edging up and some new space being added with build-to-suit projects.

“It’s coming from a broad array of industries,” said Zielsdorf of the demand from manufacturers seeking financing for expansion. He added that Wells Fargo’s business loan activity is ahead of its goals so far this year.

Taken from the article, “Lending to manufacturers on the rise”,
by Susan Feyder, 3/2/12  – Star Tribune of Minneapolis, MN

Filed Under: News

Manufacturers: Your Voices Have Been Heard!

Posted by Sam • February 29, 2012 •

I recently started a discussiLinkedInon on LinkedIn about the need to attract youth to manufacturing and ways to do it.  This discussion quickly received numerous comments sparking a meaningful discussion between manufacturers from all over the globe.  I would like to share a few ideas from this discussion:

“I am VP of a machine shop in Oklahoma City. I’ve got plenty of work to do but not enough skilled labor. We started an “apprentice program” here and have been taking young people and training them how to be machinist. We’ve got two under the age of 24 and they have been doing great shadowing the more mature machinist we have! We hope it encourages them to continue on in this field!”

-Mary Jo Jerome

“One cool idea in the article was a new game called Plantville where players can simulate running a manufacturing plant. Teens love games like Minecraft which is all about building things; it’s like modern day legos. Maybe they’ll love Plantville as well!”

-Brian Baer

“I understand that we are all in business to make money, but maybe it is time for business’s in a geographic area to step up and create a training center that mainly targets our young people. Think about this, if 10-20 business’s in a large geographical area got together and provided the funding for a training center, what would the actual cost to benefit ratio be? It could provide our youth the training needed, give the employer a trained employee they did not have to spend time training on their floor along with the costs associated with that, give businesses a feeder program.”

-Martin Migliori

“We have several programs within the state and here locally in West Michigan to attract and retain talent, for these positions and others. There are several organizations that work with high school kids, not just vo-tech centers, but FIRST Robotics and others who help make kids aware of the job opportunities in the manufacturing world.”

-Rebecca Dutcher

 

I’d like to thank all the professionals that shared their thoughts and concerns about this widespread issue in the industry.  It is great to see so much enthusiasm from the several professionals that have joined this conversation.

Interested in reading more from this discussion? Want to share your own opinion and ideas? Then check out the full discussion here.

Filed Under: News, Youth in Manufacturing

New Page Puts Youthful Focus on Manufacturing

Posted by Sam • February 15, 2012 •

Manufacturing is one of the most important industries in the nation today.  Jobs created in the industry help to create other jobs, such as sales and administration.  Furthermore, despite the trend of outsourcing to foreign countries, the United State still remains the top manufacturer in the world.  But another trend exists in the manufacturing industry.  That trend is the aging of the current workforce and shortage of skilled laborers due to the declining interest from young people in pursuing manufacturing careers.

RiteWay recognizes the importance of encouraging the youth to pursue a career in manufacturing, so we created a new page under the tab of “Youth.”  This new page is centered around addressing the biases against manufacturing and demonstrating the true value that a career in the field really has.  On this page, we have included multiple links to non-profit organizations that educate students about the many opportunities in manufacturing and assist those that are considering a career in the field.

So please, feel free to visit our new page and let us know what you think or share any link you believe would be beneficial to include.

Filed Under: News, Youth in Manufacturing

Americans Favors U.S. Manufacturing

Posted by Sam • February 8, 2012 •

A recent Rasmussen Reports telephone survey revealed that the majority of Americans are in favor of U.S. manufacturing. The article showed that 55% believe that government funds should be used to subsidize manufacturers in the United States through tax credits and other incentives.  Thirty-one percent (31%) disagreed and 15% were unsure.

This is great news for the manufacturing industry.  It shows the revival of faith in American manufacturing, something that until recently had been slowly disappearing.  So as a fellow manufacturer, it is time for us to take pride in this support and rise up to build a better future for this country.

Filed Under: News

February Job Openings

Posted by Sam • February 1, 2012 •

Due to the growth of our company, RiteWay is offering many exciting job openings.  There are open positions in all our manufacturing divisions, from assembly to welding, and in our office as well.  We offer a competitive pay and benefits commensurate with experience. RiteWay is one of the leading metal fabrication and machining shops in the area and also a manufacturer of conveyor material handling systems, so become a part of the best team and apply today!

Please visit our careers page for more information on positions currently available.

Filed Under: News

Change is a Good Thing…

Posted by RiteWay Conveyors • January 17, 2012 •

Change, it’s a six letter word that can evoke so many different feelings in people. Some people fear it, some people embrace it, but no matter how you feel about it, change is a fact. The world is not static, but rather a dynamic, ever-changing environment full of transformation.

At RiteWay, we have accepted this fact and are determined to make a change for the better. We are dedicated to continuously improving in order to do things better, faster, and more efficiently than before. Change is a movement so we invite you to follow us as we begin and continue on into the future. And remember, change is not something that is to be feared, but rather accepted.

 

Filed Under: News

Bringing the Youth Back Into Manufacturing

Posted by RiteWay Conveyors • January 16, 2012 •

Over the last few years, manufacturers within the United States have been experiencing labor shortages due to the decrease in skilled laborers. This declining workforce has been fueled by a number of factors: a large number of laborers reaching retirement age, decreases in the number of shop classes offered in high school, and the misconception of manufacturing careers as unglamorous and low-paying. However, many manufacturing careers actually offer great pay along with advancement opportunities. Another plus is that many manufacturers are currently hiring, even during this slow economy.

Several organizations are looking to change the negative stereotypes of manufacturing. One of these is Nuts, Bolts, and Thingamajigs, a foundation created by the Fabricators & Manufacturers Association. The goal of this organization is to change the negative perceptions regarding manufacturing careers and inspire young people to pursue careers in the manufacturing sector. Partnering with colleges and manufacturers across the country, they hold several manufacturing camps for high school students and award scholarships to many students that plan on earning a degree or certification in manufacturing.

Manufacturing is an exciting industry offering plenty of rewarding careers, so it is important to keep the youth interested. So please, grab your gloves, your hammers, and your welding torches, and help us create the next great manufacturing generation!

Filed Under: News, Youth in Manufacturing

RiteWay Launches New Website with Vivid Image

Posted by RiteWay Conveyors • January 16, 2012 •

It’s the beginning of a New Year and with every New Year come changes. One of our changes as you can see is the launch of our brand new website that was developed by Vivid Image, Inc. of Hutchinson, MN. We have come a long way since we began 13 years ago and therefore required a website that was reflective of our growth.

With our new website we are able to better display the variety of products and services that we can offer. Just have a browse at our services page and you will be able to see that we can provide you with much more than just metal fabrication or conveyor systems.

Also with the new website comes added functionality. Take a look at our contact or quote pages and you will see the forms that you can fill out making communication easier than ever. You can also subscribe to our blog and keep up with all the news and updates about the company or receive helpful advice.

At RiteWay, we value the thoughts and opinions of our customers greatly. So please, let us know what you think of the new website with a comment below.

Filed Under: News

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