Manufacturers Report Over $134 Million in Revenue, $12.6 Million in Profits as Results of NEPIRC Engagements
Wilkes-Barre, PA – The Northeastern Pennsylvania Industrial Resource Center (NEPIRC) Board of Directors recently released the results of NEPIRC’s operations for its 2013-2014 fiscal year, citing client impacts of over $134 million in new and retained revenues, $12.6 million in bottom-line savings and the creation or retention of 926 regional manufacturing jobs. The private, not-for-profit organization, which provides consultative services specifically designed for the emerging, small and mid-sized manufacturers is led by an private industry board of directors, which held its Annual Meeting on October 28th at NEPIRC’s Hanover Township offices.
“We hold the organization to very high performance standards to ensure that its clients and its stakeholders receive a great return on their investments in our services,” said James Teeple, the President of NEPIRC’s Board of Directors and Weiler Corporation’s Vice-President of Global Operations.
NEPIRC’s results are derived from client interviews performed by an independent market research firm commissioned by the U.S. Department of Commerce, which conducts its surveys in a way that ensures data integrity and objectivity. According to Eric Joseph Esoda, CPA, NEPIRC’s Executive Director, all NEPIRC clients are interviewed several months after the conclusion of their engagements with NEPIRC. Therefore, the organization’s performance is based upon actual engagement outcomes, not projections or estimates.
NEPIRC manufacturing clients reported a total of $134.9 million of annual sales impact as a result of NEPIRC’s services in areas such as industry certification, marketing, innovation, and strategic planning. They also reported $12.6 million of annual bottom-line savings as outcomes of NEPIRC’s continuous improvement, lean enterprise, leadership development and sustainability services.
According to client payroll rosters and client-reported data, NEPIRC services enabled regional manufacturers to create or retain 926 full-time jobs during the year and invest an additional $17.7 million in new technologies, new equipment or expansion.
“In terms of bottom-line profit, NEPIRC clients reported an average return of more than $26 for every $1 invested in NEPIRC services, which makes NEPIRC a smart investment for our clients, our Commonwealth and our federal stakeholders,” stated Bruce Daniels, the Vice-President of NEPIRC’s Board of Directors and Controller at Action-Lift, Inc. “These financial returns enable our regional manufacturers to create jobs within our communities, and while the immediate one-year creation and retention of 926 jobs is impressive in its own right, the long-term growth strategies and sustainable improvements that NEPIRC has worked with its clients to implement will surely have long-lasting impacts that go beyond those already reported,” he added.
NEPIRC works with manufacturers throughout northeastern Pennsylvania and Pennsylvania’s northern tier. NEPIRC leverages its federal and state support with private-industry service fees to bring world-class manufacturing practices to the smaller and mid-sized manufacturer market. NEPIRC’s goal is to work with clients to maximize their competitiveness, productivity and profitability, which ultimately stimulates regional job growth and facilitates regional economic expansion.
November 10, 2014