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Manufacturing group touts $226 million impact

Jeff Richgels  —  8/18/2008 7:08 am

The Wisconsin Manufacturing Extension Partnership said the help it provided to state companies produced an economic impact of $226 million for the 12 months ended June 30, including $85 million in south central Wisconsin.

The economic impact is based on 185 surveys completed by WMEP-assisted companies and compiled by an independent national research firm. Madison-based WMEP is a non-profit that provides expertise and business assistance that aims to help small and mid-size manufacturers grow and succeed.

WMEP-assisted companies reported $128 million in increased/retained sales; $16.9 million in cost savings; $81.3 million in investment, including new plant and equipment; and 1,235 created/retained jobs. WMEP said it provided services to 531 state manufacturers last year.

State tax revenues are projected to increase $11 million as a result of higher sales and job creation.

"This year's impact sends a strong message about the substantial gains that can be realized by manufacturers who invest in change and transformation," Michael Klonsinski, executive director of WMEP, said in a statement.

Regionally, manufacturers in Dane and surrounding counties -- Rock, Green, Iowa, Sauk, Columbia, Dodge and Jefferson -- reported an $85 million economic impact with 320 jobs created/retained. Manufacturers from these counties reported $24 million in increased/retained sales; $6 million in cost savings; and $54 million in investment.

This year's statewide survey data on business investment -- the highest ever reported at $81 million -- bodes well for future growth, WMEP said.

"Many manufacturers are investing in new technology and expanding their plants to accommodate increased demand for products and services from customers here and around the globe," Klonsinski said.

WMEP said in the past year it has significantly expanded its services to promote growth and innovation. Another core area of services -- lean manufacturing-- remains an essential strategy to promote efficiency, flexibility and lower costs for Wisconsin manufacturers.

Manufacturing contributes $47.7 billion to Wisconsin's economy and employs nearly 500,000. In the past five years, manufacturing's contribution to Wisconsin's economy has grown $5.9 billion, according to the federal Bureau of Economic Analysis (BEA).

During the past five years, WMEP-assisted manufacturers reported impact of $931 million with 8,635 jobs created/retained.

Jeff Richgels  —  8/18/2008 7:08 am