WEDC says Wisconsin’s manufacturing industry has the potential to establish a “globally competitive cluster” around electric vehicles.
In a recent report, the Wisconsin Economic Development Corp. highlighted the “tremendous opportunity” presented by the growing EV market given the state’s established automotive sector. It currently employs more than 92,000 workers around the state, the report shows.
WEDC highlights existing firms in Wisconsin that provide raw materials for the auto industry and produce parts for these machines, as well as original equipment manufacturers that assemble vehicles.
But to leverage these resources effectively in the EV space, report authors said manufacturing challenges in the state must first be addressed, pointing to “below-average productivity” and a shortage of qualified workers.
“Concurrently, the state will need to strengthen innovation and entrepreneurship around electrically powered technologies, and it will need to prepare the infrastructure and regulatory framework that enables widespread EV adoption,” they wrote.
And because this industry is so labor-intensive and therefore vulnerable to labor shortages, the report argues Wisconsin needs to boost productivity by investing in training workers as well as advanced manufacturing technologies.
The report, prepared for WEDC by California based research institute SRI International, includes six main recommendations for developing an EV manufacturing hub.
These include: improving productivity; scaling up the “middle-skill” worker pipeline through technical college investments; boosting access to out-of-state markets; building ties with the EV industry; aligning related policymaking with economic development priorities; and preparing for the “future of mobility and sustainability.”
WEDC Secretary and CEO Missy Hughes says the state needs to provide businesses with “the tools to help them invest and mitigate the risk associated with leaping into transitioning markets.”
See the full report: https://wedc.org/wp-content/uploads/2023/03/Wisconsin-EV-Supply-Chain-Strategy-2023-03.pdf
See the release: https://wedc.org/blog/wedc-report-shows-wisconsin-manufacturers-will-benefit-from-strategic-investments-in-expanded-ev-supply-chain/
