Last updated on May 13th, 2019 at 02:22 pm
Wisconsin’s small and mid-size manufacturers reported a record $148 million impact as a result of assistance they received from the Wisconsin Manufacturing Extension Partnership (WMEP) during the past fiscal year.
Manufacturers reported $98 million in increased and retained sales; $25 million in investment in new plant and equipment; and $23 million in cost savings.
WMEP, which helps small and mid-size manufacturers become more competitive, provided services to 557 manufacturers last year.
This year’s impact is especially significant given the economic challenges of the past year, said Michael Klonsinski, WMEP’s executive director. “Wisconsin’s small manufacturers are working hard to modernize and adopt world-class manufacturing strategies. This is important because it helps us keep jobs and business in Wisconsin.”
“Manufacturing is and will continue to be an engine for economic growth and prosperity,” Klonsinski added. “But manufacturing is changing and we need to change with it. That’s why it’s more important than ever to provide small manufacturers with the tools and expertise they need to succeed in a highly competitive marketplace.”
More than three-quarters of the manufacturers surveyed said they were more competitive as a result of projects with WMEP. Another 92% said they improved employee skills. Eighty-seven percent said they increased throughput; 76% reduced lead times.
Jim Lang, WMEP board member and president of West Allis-based AdvanTech Manufacturing Inc., said this year’s demonstrate WMEP’s effectiveness. “The numbers speak for themselves,” said Lang. “WMEP has a proven track record on helping small manufacturers improve their operations, reduce costs and win new customers.”
The impact data is based customer surveys compiled by the National Institute of Standards and Technologyˆ?s Manufacturing Extension Partnership.
WMEP provides technical expertise and hands-on business assistance to help small and mid-size improve productivity and profitability. Call 1-877-856-8588 for more information.
Sept. 13, 2002 Small Business Times, Milwaukee