SCMEP PRODUCES STATEWIDE ECONOMIC IMPACT OF OVER TWO BILLION DOLLARS
The South Carolina Manufacturing Extension Partnership (SCMEP) released its record-breaking annual report numbers, resulting in a statewide economic impact of $2.82 billion in 2018, an increase from 2017’s impact of $2.45 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 2018, SCMEP worked with 497 companies, completed 550 projects, and created and retained 10,739 jobs. Additional impact report numbers:
- 2018 Statewide Economic Impact = $2.82 Billion
- 286 companies attended open enrollment training
- 550 completed projects
- New Sales – $116 Million
- New Investment – $335 Million
- Cost Savings – $68.7 Million
- Retained Sales – $2.3 Billion
- Jobs Created – 1,977
- Jobs Retained – 8,762