An independent study recently concluded that client projects performed by IMC were directly responsible for the creation or retention of 476 Central Pennsylvania manufacturing jobs in 2010. Those projects also enabled clients to realize over $44 million in new or retained sales and almost $9 million in cost savings.
Impact results were gathered by Turner Marketing, an independent marketing and consulting firm through client phone interviews and online surveys designed to determine the financial and employment impacts that were a direct result of IMC services.
“IMC is proud to serve the manufacturers of Central Pennsylvania and see this as the most important sector in Pennsylvania’s economy.” said Alan Gehringer, IMC’s Executive Director. “We look forward to continuing this essential work with our regional manufacturers.”
Since 1988, IMC has been a strategic resource for the manufacturers in our region. IMC has worked to improve manufacturers’ profitability and spur growth by providing information, education, expertise, cost effective consulting solutions and implementation strategies.
IMC has enhanced the competitive performance of progressive manufacturers by assisting them to:
- explore new technologies and markets
- innovate new processes and products
- succeed by delivering distinctive goods and services
IMC is one of seven Pennsylvania Industrial Resource Centers (IRCs). IRCs represent the Commonwealth’s only investment focused exclusively on manufacturing, the Commonwealth’s largest industry in terms of Gross State Product and fourth largest industry in terms of total employment. One of every nine Pennsylvania jobs is in manufacturing. Earlier this year, a research team led by faculty at Cleveland State University determined the IRCs collectively generated the following results during the 2009/2010 fiscal year:
- Creation of 1,498 new manufacturing jobs
- Retention of 4,833 manufacturing jobs
- Creation of 4,200 new indirect or ancillary jobs
- Additional $31 million in revenue to state and local taxing authorities due to sales growth reported by clients
- Additional $5 million in revenue to state and local taxing authorities due to increased wages reported by clients
Overall, the research concluded that the IRC program returned in excess of $8 in new tax revenue for each $1 of Commonwealth funds invested and created or retained a family-sustaining job for each $2,187 of Commonwealth funds.
Visit IMC at www.IMCpa.com or call 800-326-9467 to discuss how we can help you achieve similar results for your company.