As reported in the Central Penn Business Journal Daily on Monday, April 17, 2017, an independent study credits the Pennsylvania Industrial Resource Center program with the creation and retention of 5,943 manufacturing jobs across the state in 2016.
Commonly dubbed the IRC program, the initiative has seven centers across Pennsylvania, including MANTEC in York County.
MANTEC is a private, nonprofit consulting firm that helps manufacturers grow and innovate.
The impact of MANTEC and other IRC centers on the commonwealth's labor market and economy was assessed by the Fors Marsh Group, a research firm in Arlington, VA.
In addition to job seeing creation and retention, Fors Marsh found that companies participating in IRC programs across the state saw $775.1 million of additional revenue, invested $174.4 million in modernization or expansion within Pennsylvania and realized $61.8 million in operating cost savings.
The study was undertaken using voluntary surveys of participating companies. Its results are provided to the Pennsylvania Department of Community and Economic Development and the U.S. Department of Commerce, each of which funds a portion of IRC operations.
"We at MANTEC are gratified by these results," organization President and CEO John W. Lloyd said. "This is the actual collective impact reported directly by our clients and we are pleased that they place such a high value on the work we’ve accomplished with them."
MANTEC and the other IRCs provide small and midsized manufacturers with technical, consultative and technology-based services.
While focused on traditional manufacturing disciplines, such as improving productivity, product quality and profitability, they also have expanded into revenue growth, supply chain optimization, advanced manufacturing technology and Industry 4.0 areas, such as cybersecurity, additive manufacturing, smart factories and broadband technologies.
In 2016, the IRCs performed substantial engagements with 867 companies, the majority of which reported that their local IRC was the only consulting resource available to them. Those companies reported the following 2016 results:
- Creation and retention of 5,943 jobs
- Retention of $634.4 million of at-risk sales
- Realization of $140.6 million of sales into new markets or new customers
- Operational cost savings of $61.8 million
- Investment of $174.4 million in expansion, including $95 million in facility projects or equipment upgrades and $48.5 million in new process or product development
As part of another study, IRC program outputs are being analyzed by the Regional Economic Studies Institute of Towson University in Maryland.
Preliminary results of that study suggest that IRC engagements added nearly $3.75 billion to the Pennsylvania in 2016 and provided a return of $14.42 to the Pennsylvania treasury for each dollar invested in the program.