Manufacturing responding, thriving

Departments - Medical Infographic

Positive results from the Hollings Manufacturing Extension Partnership (MEP)’s fiscal year 2021 manufacturing client survey, and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) funding through January 2022.

July 3, 2022

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Every $1 of federal investment in FY 2021 delivered

• $26.20 in new sales growth

• $34.50 in new client investment

The result: $14.4 billion in new, retained sales for U.S. manufacturers

Jobs

For every $1,193 of federal investment, the network created or retained one manufacturing job

In FY 2021, the MEP National Network interacted with:

• 34,307 U.S. manufacturers from nearly all manufacturing industries

• Helped U.S. manufacturers create, retain 125,746 jobs

• $14.4 billion in new, retained sales

• $5.2 billion in new client investments

• $1.5 billion in cost savings

Top 4 challenges over the next 3 years

63% - Employee recruitment and retention

60% - Cost reduction

46% - Identifying growth opportunities

38% - Innovation/product development

CARES Act impact

• NIST MEP awarded $50 million in federal funds

• MEP Centers served more than 5,300 companies with more than 7,300 CARES Act-funded projects

• 18,000 jobs created or retained

• Expanded reach of MEP Centers to serve more than 2,200 new manufacturing clients

• $1.4 billion in new, retained sales

• $480 million in new client investments

• $175 million in total cost savings

Source: https://www.nist.gov/news-events/news/2022/04/nist-mep-helps-manufacturers-respond-pandemic-and-thrive-despite-it