Innovation still matters. Consider the history of Racine and Kenosha, which both have a proud history of innovation that made a good life for many. Whether it was manufacturing, machinist companies who were suppliers for Nash/AMC/Renault/Chrysler, and even Horlick, of which I still love malted milk balls and malted shakes. Innovation does allow everyone to receive full compensation.
Compensation is more than just salary; it is not just dollars per hour; it is about full health benefits (paid by employer), employee stock ownership, profit sharing, 401k or other employee controlled retirement fund with matching funds, educational support.
The problem that exists is that the philosophy of maximum economic advantage does not come with a job underclass that ride bikes on winter roads and streets and lives day to day; we are not a third world country.
Good companies know that it is a matter of building a team — not treating someone like their just another replaceable robot. It is about someone who worked in manufacturing would get full compensation in two weeks, could buy their home, raise two children, in an upper middle-class lifestyle, and afford to send their children to a state college. We can do it again and need to insist on it.
Innovation and manufacturing are important. Remember, when a country does not make things or says manufacturing is dead, it is a colony.