Southern California small manufacturers reported an overall $243 million increase in sales in the previous year, as a result of implementing changes recommended through consulting services provided by the California Manufacturing Technology Consulting under the Federal Manufacturing Extension Partnership (MEP) program. When including the sales impact due to needed beneficial improvements, an additional $377 million in retained sales was noted, for a combined total of $620 million.
The survey results are from 500 companies receiving services and show an encouraging picture of small manufacturers ability to be successful:
- $620 million increased and retained sales
- $114 million in cost savings
- $88 million invested in plant and equipment
- 5,426 created and retained jobs
"Southern California manufacturers are benefiting from willingness to face competition and embrace new production and management strategies designed to boost competitiveness and improve their bottom-line," said David Braunstein, President and CEO of CMTC. "This allows many of these manufacturers to remain in business in California and provide high-paying manufacturing jobs."