29 Aug Manufacturing assistance generated $137 million in economic impact
Madison, Wis. – Wisconsin manufacturers report that assistance they received from the Wisconsin Manufacturing Extension Partnership produced an economic benefit of $137 million last year, much of it in sales growth, according to WMEP’s annual survey of partner companies.
Michael Klonsinski, executive director of WMEP, said in a release that Wisconsin manufacturers are investing in change, and benefiting from higher sales and increased competitiveness.
“The impact we’re reporting demonstrates that we can compete and win in the global marketplace – as long as we understand the old rules of success no longer apply,” Klonsinski said. “Innovation and transformation are the new currencies of the global economy.”
WMEP is a non-profit consulting organization that assists small and mid-size manufacturers with programs like lean manufacturing and the identification of strategies to promote sales growth and market expansion.
WMEP-assisted companies reported improvements included:
• $75.7 million in increased or retained sales.
• $16.7 million in cost savings.
• $44.8 million in investment, including new plant and equipment.
• 855 created or retained jobs.
• A projected increase in state tax revenues of $6.2 million.
The organization’s fiscal year 2007 economic impact is based on 136 surveys completed by WMEP-assisted companies and compiled by an independent national research firm. In the survey, manufacturers are asked to report higher sales, cost savings, and investment impact that they attribute to WMEP assistance.
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