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Insyte Kicks Off 25th Anniversary Celebration

   

Delivers Over ½ Billion Dollars in Customer Benefits Since 2000

 
Insyte Consulting (Insyte), a leading provider of consulting services to manufacturing, technology and other WNY companies, is celebrating its 25th anniversary. Founded in late 1982 as the Western New York Technology Development Center, Inc., Insyte is now one of the largest management consulting organizations in WNY. Insyte supports the growth of WNY’s businesses by assisting manufacturing, technology, and other companies to improve their profitability so they can grow and remain in WNY.
 
Insyte has provided over $525 Million in benefits to WNY companies in the last seven years, from January 1, 2000 – December 31, 2007, according to independent surveys of Insyte’s customers conducted for the U.S. Department of Commerce. During that time, customers have received an average of approximately $39 in benefits for each dollar spent with Insyte. A breakdown of benefits includes:
  • Increased and retained sales ........... $235,103,620
  • Cost savings realized .................... $40,480,307
  • New investments in modernization .... $59,997,700
  • Jobs created and retained ............... 3,954 (worth $191,322,198*)
“Insyte has been fortunate to play an important role in the business life of WNY for the last 25 years,” said Benjamin Rand, President, Insyte Consulting. “We are excited to begin a year-long celebration of both our past and, just as importantly, our future. With emphasis on growth and profitability tools, we believe that we have even more to contribute to the economic success of WNY companies over the next 25 years.”
 
In the first year after its inception, Insyte helped found and operate the UB Incubator in Buffalo in partnership with the University at Buffalo to assist in university technology transfer and commercialization efforts. The partnership continued with the opening of the UB Foundation Incubator in Amherst in 1988.
 
By 1994, Insyte was receiving funding to provide hands-on assistance to manufacturers as part of the National Institute of Standards and Technology’s Manufacturing Extension Partnership (MEP) together with New York State’s Foundation of Science, Technology and Innovation. These relationships continue today with Insyte having assisted over 630 WNY manufacturers to become more competitive.
 
Edward Reinfurt, Executive Director of the New York State Foundation for Science, Technology and Innovation (NYSTAR), congratulated Insyte Consulting on its 25 years of assisting small businesses create economic growth in Western New York.  Ed states, “This type of innovative business assistance is the sort of valuable support required to revitalize our upstate economy.”
 
Over the years, Insyte has partnered with many local organizations in fulfilling its mission “to transform our region by stimulating the growth and creation of dynamic companies to provide a superior standard of living for our residents.” Work with the WNY Venture Association has created opportunities to promote investments in WNY by identifying quality investment opportunities and by creating interaction between entrepreneurs and investors. InfoTech Niagara grew out of a partnership between Niagara Software Executives, co-founded by Insyte, joining forces with other computer industry and economic development professionals. Insyte is the administrative partner for the WNY Business Development Fund (BDF), funded through a partnership of NYSTAR’s Small Business Technology Investment Fund (SBTIF), the Erie County Industrial Development Agency, the University at Buffalo Foundation and the TDC Foundation (Insyte support organization) to provide seed and growth capital to high-tech entrepreneurs.
 
Insyte Consulting is a not-for-profit economic development organization that works directly with regional companies to increase their competitiveness and profitability. Insyte receives significant financial support from the New York State Foundation of Science, Technology and Innovation (NYSTAR), New York’s high-technology economic development agency, and the National Institute of Standards and Technology (NIST) Manufacturing Extension Partnership. Insyte serves as NYSTAR’s designated Regional Technology Development Center for the Western New York region and is one of nearly 350 MEP locations across the country.
 
* Valued at $48,387 per job as defined by NYSTAR.
 
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