Manufacturing innovation is driving economic growth
Roseville, Calif.- From electric vehicle technology to medical devices, manufacturing plays an important role in the health of Roseville’s economy. Over the last year, Roseville’s manufacturing industry grew by 17.9% to approximately 2,900 jobs.
Because the manufacturing industry has the highest multiplier effect of any economic sector, it’s beneficial for driving economic growth. That means for every $1 spent on manufacturing, another $2.69 is added to the economy (National Association of Manufacturers).
Powering the future of mobility
Bosch is a recent example of Roseville’s expanding manufacturing sector. The company’s move toward investing $1.5 billion in the former TSI Semiconductor site is anticipated to spur growth in related businesses and suppliers.
Locally manufactured silicon carbide chips are critical for the expanding electric vehicle market, providing significant improvements in efficiency, range, and battery size. The worldwide market for silicon carbide devices is estimated to climb from $2 billion to $14 billion in value by 2030.
Roseville is Bosch’s first chip manufacturing location outside of Germany, joining plants in Dresden and Reutlingen. The first chips are estimated to be ready by 2026.
Following the most significant semiconductor deal in 30 years, manufacturing and technology investments from additional companies will further elevate Roseville as one of the best places to do business in California.
Our area has the advantage of a skilled talent pool and quality higher education. Local colleges play an important role in the workforce pipeline. Efforts are underway in collaborating with large employers to adjust curriculums to meet evolving manufacturing industry demands.
Recent data from the Greater Sacramento Economic Council reveals that the region is known for having a welcoming and collaborative business climate. These are key differentiators for companies seeking a location that fosters growth and innovation.
Additionally, reliable and affordable City of Roseville utilities are a major benefit to businesses operating in our community. This predictability continues to be a major reason for companies to locate and stay in Roseville.