We are pleased to announce the results of our Central Pennsylvania Manufacturing Tariff Poll. This initiative aimed to gather insights from regional manufacturers regarding the potential impact of proposed tariffs on the region’s manufacturing sector. We extend our sincere gratitude to all participants for their valuable contributions.
Key Takeaways:
- Mixed Revenue Impact: While nearly half of respondents foresee no change in revenue, 31% expect a decline, indicating that some manufacturers anticipate financial challenges, while 23% expect an increase in revenue.
- Pricing Adjustments Are Likely: The majority of respondents plan to increase prices for customers in response to tariffs, while a smaller portion intends to absorb the added costs, reflecting varied pricing strategies.
- Supplier Diversification is a Common Strategy: With 72% of respondents diversifying suppliers, many manufacturers are exploring new sourcing strategies to adapt to potential supply chain disruptions. Twenty-nine percent foresee no significant impact.
- Limited Workforce Impact Anticipated: Despite potential cost pressures, most respondents do not expect to change their workforce size, suggesting stable employment levels across the region.
- Few Formal Response Plans in Place: Only 26% of respondents have created or plan to create response teams, while the majority are either undecided or not pursuing formal strategies at this time.
Visit Central PA Manufacturing Tariff Survey Report for the full report.
IMC remains committed to supporting Central Pennsylvania manufacturers by providing resources and support based on these insights. We encourage industry stakeholders to stay engaged through our e-news and social media channels for ongoing updates and initiatives.
For further information or to discuss the report’s implications, please contact IMC at (570) 329-3200 or email info@imcpa.com.
