Manufacturing and wholesale distribution companies in Iowa are optimistic about their growth prospects over the next 18 months, even though fewer than half said their businesses are thriving and growing, according to the RSM McGladrey 2007 Manufacturing and Wholesale Distribution National Survey.

The second annual report surveys CEOs, chief financial officers and senior industry executives about cost structure, profitability, technology initiatives, operations, globalization and more. Of the 947 surveys completed, 47 were from Iowa businesses.

Only 41 percent of the companies surveyed said their businesses are growing, down from 66 percent in 2006. The survey indicated that Iowa companies could be missing opportunities due to a lack of global growth strategies. Only 39 percent said working globally is part of their strategy. Many are also missing cost-savings opportunities by failing to apply for qualified tax credits. Forty-five percent of Iowa companies used research and development credits; more than half use no government programs.

Workforce shortages are also an issue with Iowa’s manufacturing and distribution companies, with 66 percent of respondents planning to expand their work forces within the next 18 months. Iowa businesses’ greatest hiring needs are for salespeople (51 percent), engineers (43 percent), machinists (40 percent) and entry-level workers (36 percent).

For the complete report, contact Debbie DeCamp at 558-6637 or by e-mail at debbie.decamp@rsmi.com.