WASHINGTON, DC — Dec. 2, U.S. Senators Cory Booker and Bob Menendez (both D-NJ) announced that the U.S. Department of Commerce (USDOC) awarded a $1.4 million federal grant to the New Jersey Manufacturing Extension Program, Inc. (NJMEP). The grant enables the NJMEP to provide technical assistance and other services to New Jersey manufacturers at lower fees than other business consulting firms, helping them develop new customers and create jobs.
“By supporting local manufacturing through federal investments like this, we are making a commitment to strengthening New Jersey’s economic competiveness and growing our region’s economy,” Sen. Booker said. “The fact is, small businesses are the backbone of our economy and a tremendous engine for innovation and job growth. This federal grant will ensure NJMEP can continue to help small and mid-sized manufacturers spur job creation, embrace innovation, and boost productivity.”
“This kind of federal investment is just what our small and mid-sized manufacturers need to compete, grow and win in a competitive global economy,” said Sen. Menendez. “When we connect business owners – some whose companies have been operating for generations in our state — with the technical consultation and services NJMEP provides, we see the results in new innovation, new jobs and new opportunities for the future. These are partnerships for success.”
The grant was awarded through the USDOC’s Manufacturing Extension Partnership (MEP) program, designed to assist small and mid-sized U.S. manufacturers create and retain jobs through innovative strategies, process improvements and green technology. The public-private partnership delivers a high return for taxpayers, generating $30 in new sales growth for every dollar of federal investment.
“This federal funding will allow NJMEP to continue its mission of supporting the over 11,000 manufacturers and STEM-Support Firms in the Garden State,” said NJMEP CEO John Kennedy. “NJMEP continues to provide the federal and state governments with significant ROI based on Year 2 of its new Cooperative Agreement with the USDOC, as 3rd party surveys and metrics have NJMEP as one of the top 5 centers in the national MEP System.”
NJMEP, a not-for-profit company that was established in January 1996 with the USDOC’s approval, is one of 51 MEPs across the United States that is working to support the manufacturing sector by delivering technical and business assistance resulting in substantial savings and growth. According to NJMEP, the organization recently topped $3.3 billion in Increased & Retained Sales, Process Control Savings, and Capital Investments since the year 2000 and created or retained over 28,000 New Jersey jobs during this same period.
As part of his ongoing efforts to boost manufacturing across the nation, Sen. Booker introduced the Scale-Up Manufacturing Investment Company (SUMIC) Act of 2015, legislation that increases access to capital for entrepreneurs looking to scale-up and commercialize their advanced manufacturing innovations.
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