According to data voluntarily provided by 575 small and mid-sized manufacturing firms across Pennsylvania throughout 2023, the statewide Industrial Resource Center (IRC) initiative, the Commonwealth’s flagship program for strengthening the competitiveness and resiliency of smaller industrial firms, generated significant positive results among users of their services. Over the past 12 months, manufacturers that utilized IRC professional services avoided 7,197 layoffs while adding 1,462 full-time workers to their rosters. They also realized $796.8 million in retained sales and secured $256.4 million of new customer orders as results of their IRC advisement and engagements.
In addition to growing their workforces and increasing their top-line revenue numbers, companies that performed consultative projects with their regional IRC reduced their non-personnel operating costs by $187.1 million over the past 12 months, avoided $36 million of unnecessary expenditures, and invested more than $376.8 million in new equipment, facility expansion, advanced technologies and workforce training.
Pennsylvania’s IRC initiative consists of seven affiliates across the Commonwealth including the IMC.
The revenue, cost savings, regional investment and job impacts reported by 575 IRC clients was gathered by an independent market research firm and confirmed by the U.S. Department of Commerce.