SCMEP reports economic impact over $2B

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The S.C. Manufacturing Extension Partnership had a statewide economic impact of $2.82 billion in 2018, an increase from $2.45 billion in 2017, according to a news release.

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, the release said.

“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,” Chuck Spangler, SCMEP president, said in the release.

SCMEP’s client companies are surveyed by the National Institute of Standards and Technology through an independent third-party organization. “Obtaining the 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,” according to the release.

In 2018, SCMEP worked with 497 companies, completed 550 projects and created and retained 10,739 jobs.

Other benchmarks reported by SCMEP in 2018 included:

• 286 companies attended open enrollment training
• 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