By Brittney Sherman
A report from the Federal Reserve states that manufacturing activity increased by 0.6% for the month in June after a 0.9% increase in May. Research firm Oxford Economics also says that industrial production is expected to increase next year from the current industrial capacity utilization of 78.8%. The growth in manufacturing includes industries such as construction, consumer products, defense, and technology.
Did you know: Morgan Hill has 100+ Manufacturing companies accounting for approximately 20% of all jobs citywide. There is 7.7M sq.ft. of existing industrial, R&D, and warehouse space in Morgan Hill. Where the City’s previous industrial vacancy rate was 2%, today it is over 12% largely due to the recent completion of the Butterfield 5 and Cochrane Technology Center Industrial Parks. Morgan Hill has some of the newest and largest industrial space available in Silicon Valley, positioning them as a preferred location for manufacturers looking to expand, condense, or relocate.