Insyte Consulting, a non-profit management consulting organization, has announced it has helped its manufacturing clients reach $1 billion in economic impact in Western New York. The figure is the sum total of the benefits reported by Insyte Consulting clients since 2000 to independent third-party survey companies working for the U.S. Department of Commerce. Part of the $1 billion includes saving or creating more than 7,200 jobs.
"This $1 billion is good for all of us, because it shows that Western New York manufacturers continue to invest in making themselves more competitive and profitable," said Benjamin Rand, president of Insyte Consulting. "Manufacturing ranks No. 1 in gross domestic product and No. 3 in employment in WNY, so it is still the most important economic engine in our region."
Here is a breakdown of the $1 billion impact:
•New and retained sales: $458,323,595
•Capital investments: $147,527,999
•Cost avoidance: $73,923,887
•Jobs created or saved (7,201*): $348,725,109
Insyte works side-by-side with its clients to help each company make lasting, positive changes using proven and cutting-edge tools and methods to help them innovate, grow and profit. Services range from innovation engineering and new product development to strategic planning and operational excellence.
Among the companies that contributed significant economic impact are:
Insyte's experienced team has been working with local manufacturers for more than 30 years to help them innovate, grow and profit in competitive global markets. With a focus on growth, Insyte is already working with its clients to reach the next $1 billion milestone in record time.
"I'm confident that we can help any manufacturing company, big or small, improve," Rand said. "This $1 billion proves that, if you make a little progress every day, every week, every month, company by company, it really adds up."
To learn more, visit www.theotherbuffalobillion.com.
Insyte Consulting, a non-profit organization, is the NYSTAR-designated Regional Technology Development Center for Western New York.
For more information, visit www.insyte-consulting.com.