The Hollings Manufacturing Extension Partnership reported federal investments transformed into $14.4 billion in sales for U.S. manufacturers for the 2021 fiscal year.
The partnership's manufacturing client survey reported that for every $1 of federal investment, new sales grew by $26.20 and new client investment increased by $34.50. One manufacturing job was retained or created for each $1,193 of investment by the government, according to an April 7 Department of Commerce release.
“The survey shows that, even while navigating industrywide disruptions caused by the pandemic, the MEP National Network helped manufacturing clients achieve some of the highest impacts to date,” Jennifer Sinsabaugh, board chair for the Foundation for Manufacturing Excellence, said, according to the release.
The MEP report also included the impacts of Coronavirus Aid, Relief, and Economic Security Act funding through January 2021.
In 2021, the MEP National Network reportedly interacted with 34,307 U.S. manufacturers from almost every industry, helping them recover from the COVID-19 pandemic, according to the release. Approximately 9,000 manufacturing clients completed the survey. The survey in question shows that these services helped manufacturers create or retain 125,746 jobs and much more.
“Each of these impacts is critically important to the health of America’s manufacturers and to the U.S. manufacturing ecosystem overall,” Sinsabaugh, who also serves as the CEO of the New Mexico Manufacturing Extension Partnership, said.
MEP is a program of the U.S. Commerce Department’s National Institute of Standards and Technology, the release reported.
