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Missouri’s Manufacturing Extension Center releases Q3 2018 impact report; shows demand for workforce

Today, Missouri Enterprise, a non-profit consulting organization that is an affiliate of the National Institute of Standards and Technology Manufacturing Extension Partnership (NIST MEP) network, released its third quarter impact figures for 2018. Missouri Enterprise provides a full range of consulting services that help Missouri manufacturers drive solutions and transform into high-performing, efficient, cost-effective operations. The figures showed that after utilizing Missouri Enterprise’s services, Missouri manufacturers reported investing more than $8.6 million into enhancing or adding onto their facilities and experiencing a cost savings of $7.3 million. Companies also reported experiencing increased/retained sales of $76 million, more than triple that of the previous quarter. Additionally, 92.7 percent of our clients in Q3 2018 reported that our services improved their competitiveness, which is 1.4 percent higher from the previous quarter and 6.8 percent higher compared to the same quarter in 2017. “One of the top issues we hear most often is manufacturing companies either not being able to find workers to fill vacant jobs or retaining the employees they have. This is a real challenge affecting the manufacturing industry nationwide and the numbers underscore this epidemic,” said Missouri Enterprise CEO and President Dusty Cruise. According to the Labor Department in December of 2018, openings in the manufacturing sector jumped to an all-time high of 522,000 (using most recent October 2018 data compared to 485,000 from the previous month). Manufacturers are also combatting the loss of workers who are facing retirement and transitioning out of the workforce, further impacting retention rates. Missouri Enterprise’s latest impact figures illustrate the manufacturing workforce challenge…. READ FULL RELEASE

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