About :: Economic Impact

Economic Impact Data

Download MAGNET's 2005-2010 Economic Impact Summary to see how MAGNET has helped generate nearly $776 million of economic impact for manufacturers in Northern Ohio.
MAGNET 2005-2010 Economic Impact Report

"MAGNET is committed to strengthening the competitiveness of the manufacturing industry in Ohio. There are many wonderful opportunities for growth in this region and MAGNET is positioned to be a vital part of them. We have learned from experience that change is constant. We advise our manufacturers about the importance of diversification. Similarly, we constantly seek resources and innovative programs that benefit small businesses and entrepreneurs, especially those in the motor vehicle and parts industry," Dan Berry, MAGNET President and CEO.

Download MAGNET's 12-page 2005-2010 Economic Impact Summary (PDF, 1.3M).


As required by the NIST Manufacturing Extension Partnership Program, MAGNET requests that each of our clients provide information to a third-party auditor on the value of the work performed by our consultants.

By evaluating project related factors such as new and retained sales, capital investments, jobs created or retained, and cost-savings, the auditors provide MAGNET with the economic impact of our services.

Fiscal Year 2009

Increased/Retained Sales
$63,764,601
Cost Savings
$25,295,123
Investments
$33,636,175
Total Impact
$122,695,899
Jobs Created/Retained
926
Source: NIST Third-Party (Turner Marketing) Survey

Fiscal Years 2005 through 2009

Increased/Retained Sales
$500,376,601
Cost Savings
$87,583,877
Investments
$156,942,011
Total Impact
$744,902,489
Jobs Created/Retained
4,644
Source: NIST Third-Party (Turner Marketing) Survey