The report, conducted in January, was based on an online survey of about 100 business owners, VPs and directors at industrial manufacturing companies.
It found that 59% of respondents expect to see a revenue boost this year.
Also, 23% are planning new hires this year and 76% said they plan to keep their current employee base at the same level as 2007. Just 1% of respondents indicated that job cuts could occur this year.
More than 46% of respondents agreed that costs of raw materials (including stainless steel, nickel, copper and other metals and plastics) were a major concern this year. Energy costs were the second biggest concern (17.5%), followed by logistics and supply chain costs (16.4%).