FOR IMMEDIATE RELEASE
Monday, March 6, 2023
Contact: Robynn Albert, VMEC Marketing & Training Manager
Vermont Manufacturing Extension Center (VMEC)
P.O. Box 12, Randolph Center, VT 05061
(802) 793-2078 / [email protected]
VMEC Releases 2022 Impact Report
Randolph Center, VT – VMEC, Vermont Manufacturing Extension Center, has released its annual impact report. As the only singularly-focused resource for manufacturers in Vermont, VMEC is the official representative of the MEP (Manufacturing Extension Partnership) National Network in the Green Mountain State. Since its inception over 25 years ago, VMEC’s federal partner, NIST, the National Institute of Standards and Technology, has used an independent third-party organization to conduct surveys of VMEC clients as well as other MEP Centers across the US and Puerto Rico.
As Vermont’s trusted, practical on the ground resource for manufacturing, VMEC generates a significant, positive return on its public investment; highlights of the FY 2022 annual report include:
- 443 jobs retained
- 930 total jobs created; this figure includes direct, indirect and induced jobs
- $69,600,000 employer wages & benefits for these jobs
- Over $9,000,000 in cost savings
- An average annual compensation of $64,000 for Vermont manufacturing employees, close to 9% more than the average Vermont compensation of $56,000
Additionally, based on company-reported data over the past three years (April 2019 through March 2022), VMEC client ROI is 350:1; every one dollar clients spent on VMEC assistance returned an average on that investment of $350.
“We are delighted to be able to work with Vermont manufacturers as part of the NIST MEP program. These numbers show how working with VMEC and our partners benefit individuals, companies and the Vermont economy,” states VMEC Center Director and CEO Patrick Boyle, who began leading the Center in summer 2021. “We would like to partner with more Vermont manufacturers in 2023 so we can build on these results.” To read the complete report, visit VMEC 2022 Impact Report.
About VMEC: Part of the nationwide MEP National Network and hosted by Vermont Technical College since 1995, VMEC operates as a not-for-profit with a primary mission, “to strengthen and empower Vermont manufacturers.” A local resource and trusted adviser to manufacturing enterprises of all sizes, the VMEC team brings world-class expertise in consulting, coaching, hands-on implementation support, training and education for leaders and workers. VMEC provides proven systems and solutions focused on strategies, processes, products, technologies and people.
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