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TechTrends e-Newsletter I March 2004 Page 1 of 6 <br /> ` II 1 <br /> Ii (. ]O ()! 1'. Print Close <br /> i <br /> TE 101 <br /> a publication of <br /> • rinroda Teclulkv;lac,a <br /> Volume 5, Issue 3 March 2004 <br /> Cover Story <br /> MTI Technology Directory: Info to Go! <br /> Looking for detailed information on Minnesota's manufacturing and technology <br /> sector? Look to the 2004 edition of the Minnesota Technology Directory . An <br /> essential guide to companies that use and produce technology, the Directory <br /> provides a direct point of entry to more than 2,000 state firms and features <br /> meticulously compiled information, including: names, titles, addresses, sales <br /> ranges, business descriptions, and phone/fax/e-mail contact data. <br /> Price for a print version is $155. A CD version—which includes a fully searchable, <br /> sortable database is $350. To order your copy, go here. or call 612-373-2900 or <br /> • 800-325-3073. <br /> 6 <br /> Innovation Trends 2004 <br /> Three currents that make a competitive difference to manufacturers. <br /> In some ways, it seems that the worst is over: Minnesota manufacturing is in the <br /> 0 midst of its fastest expansion in 20 years, keeping pace with a national cyclical <br /> rebound in exports and investment. While the National Association of Manufacturers <br /> (NAM) expects the sector to maintain a 6 percent rate of growth this year, the <br /> recovery still hasn't made it down to the supply chain—at least not in Minnesota. <br /> Many workers lost to the downturn simply haven't returned, and overseas <br /> competition is as intense as ever. What's more, soaring production costs plus <br /> limited pricing power will continue to dog manufacturers, taxing their workforces <br /> and most importantly, their capacity for innovation. To put this in perspective, NAM <br /> notes that while manufacturing comprised 17 percent of the U.S. economy in 2000, <br /> it accounted for 62 percent of technological research and development. With little <br /> room to recoup losses in production costs, innovation has been, and will continue to <br /> be, the bedrock of manufacturers' competitiveness—in lean times and good. <br /> How can small and mid-sized manufacturers respond to these projections? Three <br /> sector-wide currents are quickly becoming essential to long-term survival strategies <br /> built around innovation: <br /> • • <br /> • Innovate beyond product development. The "innovate or die" mantra echoes <br /> a <br /> loudly throughout the business world, observes MTI product development consultant <br /> http://www.minnesotatechnology.org/publications/techtrends/2004/March/printVersion.asp 3/17/2004 <br />