SCMEP generates $3 Billion statewide economic impact
March 30, 2021
SCMEP works with 400 SC manufacturers to advance the state’s economic impact
The South Carolina Manufacturing Extension Partnership (SCMEP) released its record-breaking annual report numbers, resulting in a statewide economic impact of $3 Billion in 2020, an increase from 2019’s impact of $1.9 Billion.
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.
“This milestone proves SCMEP’s dedication to its mission of helping South Carolina companies grow. The significance of reaching this record-setting economic impact during a year like 2020 can’t be overstated. We look forward to continued growth for our State,” said Chuck Spangler, President of SCMEP.
SCMEP’s client companies are surveyed by NIST through an independent third-party organization. Obtaining this 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 organization’s capabilities.In 2020, SCMEP worked with 400 companies, completed 406 projects, and created and retained 7,099 jobs. Some additional impact report numbers include:
- 2020 Statewide Economic Impact- $3 Billion
- 200 Companies attended open enrollment training
- 406 Completed projects
- New Sales – $90 Million
- New Investment – $250 Million
- Cost Savings – $165 Million
- Retained Sales – $2.5 Billion
- Jobs Created – 641
- Jobs Retained – 6,458
About SCMEP
Founded in 1989 and an affiliate of the National Institute of Standards and Technology (NIST), SCMEP operates under the US Department of Commerce to promote innovation and industrial competitiveness. SCMEP is a private, nonprofit resource for small to mid-size South Carolina businesses that uses a strategic, hands-on partnering approach to help South Carolina businesses improve their competitiveness, performance, and profitability.
Website: www.scmep.org
