08 Feb WMEP wins top economic development award
Madison, Wis. – The Wisconsin Manufacturing Extension Partnership, a state-funded organization that is credited with providing taxpayers a substantial return on investment, has received the state’s top economic development award from the Wisconsin Economic Development Association (WEDA).
The award, presented at the 2007 Governor’s Conference on Economic Development in Madison, is given once every two years to an organization that has had a significant impact on economic development in Wisconsin.
WMEP was established to help manufacturers develop strategies to boost competitiveness, profitability, and growth, which is especially important in an age of intense global competition. Since 2001, more than 1,200 WMEP-assisted firms reported an overall economic impact of $849 million, including $589 million in higher sales, $117 million in cost savings, $143 million new plant and equipment investment, and more than 8,000 jobs created or retained.
One of the companies WMEP has worked with is Madison-based TomoTherapy, a growing medical device manufacturer that was the winner of the WEDA Business Award. WMEP has helped TomoTherapy with the implementation of lean manufacturing techniques throughout its plant.
The state’s investment in WMEP helps bring federal dollars to Wisconsin. Since 1996, the partnership has brought back $21 million to help Wisconsin manufacturers improve competitiveness, and recently secured a $3.2 million grant from the U.S. Department of Defense and nearly $600,000 from the U.S. Department of Commerce.
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