NJMEP Announces Impact of $2.7 Billion on New Jersey’s Manufacturers and Over 22,000 Jobs Created or Retained
The New Jersey Manufacturing Extension Program, Inc. (NJMEP) announces that its programs and services have helped New Jersey manufacturers realize more than $2.7 billion in value. NJMEP has also enabled Garden State manufacturers to create or retain more than 22,000 jobs for the state’s economy. The numbers reflect NJMEP’s impact from 2000 through 2013, and the most recent impact data was collected by an independent third-party, Fors Marsh Group.
The $2.7 billion in value was realized through the following: $2 billion in increased and retained sales, $311 million in cost savings and $436 million in investments.
NJMEP is a not-for-profit that helps New Jersey’s manufacturers become more profitable. NJMEP’s services are geared towards assisting state manufacturers increase sales, reduce costs, improve efficiencies and spur job creation. The organization is chartered by The National Institute of Standards and Technology’s (NIST) Hollings Manufacturing Extension Partnership (MEP), a network of more than 60 MEP centers across the U.S. and Puerto Rico.
“2015 is going to be a pivotal year for New Jersey’s manufacturing community,” says John W. Kennedy, CEO of NJMEP. “This year, we will continue to introduce more initiatives that will help manufacturers become more proactive, productive and globally competitive.”
NJMEP will seek to help manufacturers through programs such as MarketShift and the Pro-Action Network, which is designed for progressive New Jersey manufacturers looking to embrace innovation, new technology, higher efficiencies and market expansion. Programs such as Innovation Engineering and ExporTech™ will be emphasized to help manufacturers develop new products and enter foreign markets.
The organization will continue to provide lean manufacturing services, R&D tax credit services, training grants assistance and workforce development initiatives.