NEPIRC Clients Report $71 of Sales Impact for Every $1 Invested in NEPIRC Services

The Fors Marsh Group, an international applied research and data analysis firm, recently concluded an in-depth analysis of the way in which consultative services provided by the Northeastern Pennsylvania Industrial Resource Center (NEPIRC) impacted the performance of 19 regional manufacturers over the past year. Manufacturers that participated in the analysis were selected from a comprehensive listing of NEPIRC’s past-year clients.

Using data provided by those 19 manufacturers, the Fors Marsh Group concluded that NEPIRC services were directly responsible for: 

  • A total of more than $26.5 million in client sales impact, including $21.3 million in retained sales and $5.3 million in new sales. Based upon the amount of funds each company invested in NEPIRC’s consultative services, average sales impact was $71 in new or retained sales for every $1 invested.
  • A total of more than $578,000 in operating cost savings, which resulted in $1.54 of bottom-line profits for every $1 invested in NEPIRC’s consultative services.
  • The creation or retention of 182 high-paying manufacturing jobs.
  • The approval of over $4.1 million of corporate investment in new technologies, innovations, facility expansions or workforce training. 

Data also indicated that, as a result of NEPIRC’s services, those manufacturers are currently generating substantial sales from new customers, new markets, new products and new services. Overall, NEPIRC’s clients attributed 15% of their sales growth to new products or new customers. Three of the 19 companies that participated in the study attributed 100% of their sales growth to new customer or product ideas that they would not have identified without NEPIRC’s assistance. 

Of the companies that participated in the analysis, 74% indicated that NEPIRC was their only practical source of innovation, market development, process improvement, sustainability and similar services to improve their business performance and help them grow. The top reasons given for a manufacturer partnering with NEPIRC were the expertise of NEPIRC’s staff and the cost of NEPIRC’s services when compared to expected engagement outcomes. Of the 19 manufacturers interviewed by the Fors Marsh Group, 16 indicated a high willingness to recommend NEPIRC to a business associate or other regional manufacturer.    

NEPIRC is a not-for-profit corporation that provides regional manufacturers with services aimed at helping them achieve sustainable, profitable growth. NEPIRC is a public-private partnership that leverages funding received from the Pennsylvania Department of Community & Economic Development and the National Institute of Standards & Technology Manufacturing Extension Partnership program with client fees and other forms of private investment to generate quantifiable impact for its clients, stakeholders, region and nation. NEPIRC’s Executive Director can be reached at 570-819-8966.