MAGNET Services to Manufacturers Produce Five-Year Total of Nearly $1 Billion in Economic Impact

Product Design and Engineering Services are the Most Popular MAGNET Offering; 6,142 Manufacturing Jobs Created or Retained through MAGNET Engagements

CLEVELAND—The Manufacturing Advocacy & Growth Network (MAGNET) today released the audited results of its work over the past five years aimed at strengthening the competitiveness of the manufacturing industry in Ohio. The goal of MAGNET is to help manufacturers in Ohio compete and grow.

The data indicates that the 796 process improvement and product development projects MAGNET has delivered to 398 manufacturers since July 2006 have helped those companies:

  • achieve $655 million in increased or retained sales
  • attain $83 million in cost savings
  • invest $195 million in their operations
  • and create or retain 6,142 manufacturing jobs.

The total documented economic impact of $993 million took place between July 2006 and June 2011. “This third-party audit shows very successful engagements by MAGNET with hundreds of manufacturers of all sizes across all iq option demo account registration industry groups during one of the most difficult economies since the Great Depression,” said MAGNET President and Chief Executive Officer Dan Berry.

Read the complete Nov. 22, 2011 press release here.

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MAGNET Global Product Management Service
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Assessment, Shipment, Payment—MAGNET Provides the Exporting Guidance

Globalization is a reality for all manufacturers—regardless of size, location, product or past performance. Even if your company is not exporting, globalization has changed your business.

Starting an export process or expanding an existing one can be challenging for small and midsized manufacturers in Northeast Ohio that lack on-staff resources and need guidance in choosing viable paths forward.

To assist Northeast Ohio manufacturers who want to enter the global marketplace, MAGNET offers its comprehensive new Global Product Management (GPM) service.

Learn more here.

The Manufacturing Advocacy & Growth Network supports and champions manufacturing in Northern Ohio. MAGNET is the voice for the region's manufacturers.

Since 1984, the Manufacturing Advocacy and Growth Network, MAGNET, has assisted thousands of manufacturers through its Edison Technology Center programs, Manufacturing Extension Partnership Services and Business Incubation programs. Recently MAGNET has expanded its mission to assist manufacturers through programs that address manufacturing-related Education, Competitiveness, Innovation and Regulatory Affairs. MAGNET is a “one-stop shop” for entrepreneurs and technology-driven manufacturers seeking resources to become or remain globally competitive.