SCMEP PRODUCES RECORD-BREAKING STATEWIDE ECONOMIC IMPACT
The South Carolina Manufacturing Extension Partnership (SCMEP) released its record-breaking annual report numbers, resulting in a statewide economic impact of $2.45 billion in 2017, a dramatic increase from 2016’s impact of $1.443 billion.
All companies that engage in projects with SCMEP are surveyed to demonstrate both quantitative and qualitative impacts on how the organization helps manufacturers improve their performance and achieve their goals. This impact is measured quarterly, and reported annually, in terms of dollars earned, saved and invested.
“This milestone proves SCMEP’s dedication to its mission of helping South Carolina companies grow. The significance of reaching this ground-breaking economic impact is remarkable and we look forward to continuing our work throughout the State,” said Chuck Spangler, President of SCMEP.
SCMEP’s client companies are surveyed by NIST through an independent third-party organization. Obtaining this objective data ensures that SCMEP stays on-target in working to help small and mid-size South Carolina businesses enhance their global competitiveness by driving top-line growth, improving productivity, and developing their organizations’ capabilities.
In 2017, in addition to impacting SC by over two billion dollars, SCMEP worked with 498 companies, completed 545 projects, and created and retained 7,326 jobs. Please view SCMEP’s Impact Report Numbers Below:
- 2017 Statewide Economic Impact = $2.45 Billion
- Worked with 498 companies
- 230 companies attended open enrollment training
- 545 completed projects
- New Sales – $337 Million
- New Investment – $365 Million
- Cost Savings – $125 Million
- Retained Sales – $1.62 Billion
- Jobs Created – 1,159
- Jobs Retained – 6,167