Insyte is proud to announce that we have surpassed $3 BILLION in economic impact in Western New York since the year 2000. This is a testament to our clients: WNY manufacturers of all types, who continue to invest in themselves to improve their competitiveness and grow their businesses. Their optimism and dedication are good news for everyone who wants a strong, vibrant economy for our region.
What does “economic impact” mean? Simply put, it is the quantifiable benefit of all the project work that local manufacturers have done with Insyte over the last 19 years. Here is the breakdown of impact by type, as reported by our clients:
These figures are particularly meaningful because they are not our own estimates; they come directly from our manufacturing clients through an independent survey process conducted on behalf of the federal government. Insyte receives a portion of our funding through the U.S. Department of Commerce’s (USDOC) Manufacturing Extension Partnership (MEP) program. To ensure that these funds are put to good use, the USDOC hires an independent, third-party survey company to contact each of our clients to quantify any benefits that client has realized from each project with Insyte.
Our WNY manufacturing clients have been very good investments for the federal government. From 2013 through 2017, when the MEP metrics were changed, Insyte was the MEP program’s top performer nationwide, which includes more than 400 locations in all 50 states and Puerto Rico. Our WNY manufacturing clients generated the highest average quantified impact per dollar of federal funding received, meaning a dollar invested in WNY through Insyte generated more impact than any other MEP center in the country. We are particularly proud that our projects have created or saved almost 14,000 manufacturing jobs for our community at a cost of less than $1,500 per job in federal and state funds.
This $3 billion in impact is the culmination of thousands of projects with hundreds of small and medium-size WNY manufacturers conducted over almost two decades. Insyte’s philosophy has been to work hard every day—one project at a time, one manufacturer at a time—to accomplish our mission “to transform our region by stimulating the growth and creation of dynamic companies.” When you work with committed, dedicated manufacturers like we have in our region, even a little organization like Insyte can make a big impact. So, thank you to our many WNY manufacturing clients for everything you do for our region, and congratulations on reaching $3 billion!