Let’s all give a big “Thank You” to WNY Manufacturers for their continued commitment to improving!
As Exhibit One, consider that Insyte just passed another milestone this month when we reached $1.5 Billion in impact for our WNY manufacturing clients, according to the U.S. Department of Commerce. Here is the breakdown of that $1,505,769,345:
Over $760 million in New & Retained Sales
Over $235 million in New Capital Investment
Over $ 87 million in Cost Avoidance & Savings
8,693 Jobs Saved or Created worth over $420 million
Why should you care? Because this demonstrates that WNY manufacturers are continuing to invest here, continuing to get more competitive, continuing to grow their profits–all of which benefits our region tremendously. As the most important private sector industry in our area, manufacturing continues to provide the lion’s share of WNY’s GDP and exports. It is also our third largest employer, accounting for about 60,000 direct jobs and an estimated 80,000-110,000 indirect jobs. Clearly, we all owe the manufacturers in our area a tremendous debt of gratitude, so
NOTE: We are particularly proud of the fact that these figures are not our own guesstimates, but rather have been collected for the United States Department of Commerce through independent, third-party surveys of Insyte’s clients since 2000. It took us 12 years to reach $1 billion, but only two years to add another $500 million. We could not be happier about what this means for the health and commitment of WNY manufacturing and we look forward to continuing to serve manufacturers here for many years to come.