NHMEP Economic Impact Report

The Economic Impacts of the New Hampshire Manufacturing Extension Partnership Program on the New Hampshire Economy

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NHMEP Economic Impact Report

2 Year Executive Summary – March 2020

IMPACT TO NH MANUFACTURERS

The New Hampshire Manufacturing Extension Partnership (MEP) program is supported by the National Institute of Standards and Technology within the U.S. Dept. of Commerce to help small- and medium-size manufacturers identify and implement advanced manufacturing and management technologies. Through a network of resources, the MEP links client firms with local and national sources of expertise to address specific problems. This study estimates the total economic contribution to the New Hampshire economy from firms whose employment, sales, or investment activity changed as a direct result of assistance provided by the New Hampshire MEP.

New Hampshire MEP clients are surveyed, by an independent third party survey company, to determine the economic impact resulting from their relationship with the MEP program. Clients are surveyed roughly one year after the completion of a project and asked a number of questions relating to changes in efficiency and output as well as questions relating to the quality of the MEP services they received. 117 companies surveyed over the past two years reported that as a result of their relationship with New Hampshire MEP they have experienced:

Created Jobs

Retained Jobs

$M

Cost Savings

$M

Increased or Retained Sales

$M

New Investments

IMPACT TO NH ECONOMY

The effects of this increased economic activity extends beyond the client firms. Increased sales by New Hampshire MEP client firms require that they increase their purchases of intermediate goods and services from companies located in New Hampshire and elsewhere to support their increased output. The supplying companies, in turn, generate additional demands of their own. In this way, dollar expenditures for final demand can be traced backward to all of the affected industries in the regional economy. In addition, the income from new jobs generated by New Hampshire MEP clients and the supplying firm’s results in increased demand for consumer goods. Each of these effects, in turn, generates subsequent ripples throughout the New Hampshire economy. The sum of these direct, indirect, and induced effects suggests that small- and medium-size manufacturing companies that increased or retained jobs or sales and/or increased investments with assistance from the New Hampshire MEP are responsible for.

Created or Retained Jobs that paid $151M in employee wages and benefits

$M

Increased or retained economic output

$M

Contributed or Retained Gross State Product

$M

Generated or Retained in additional tax and non-tax revenues at the Federal, state and local government levels

$M

Generated or Retained in additional tax and non-tax revenues at the state and local level

1 No client is surveyed more than once in a 12 month period. Data is from 8 Quarterly Surveys, which were conducted from April 2018 through February 2020. Clients are asked about impacts experienced over the past year.
2 Reported impacts modeled using IMPLAN Pro version 3.0 software. Modeling procedures available upon request.