Economic Impact

Since 2005, Purdue MEP has had over $1.7 billion in economic impact throughout Indiana.

 

 

Purdue MEP is partially underwritten by federal funding from the NIST (National Institute of Standards and Technology) MEP program. This funding provides the needed support that allows us to remain an economical service provider.

To meet the requirements for continuation of this federal funding, our clients quantify the impact our services have had on their companies. These services include implementation projects where the client realizes significant operational improvements and increases in production capacity, sales opportunity, cost avoidance, and investment opportunites. And thus, both client satisfaction and impact measurement are essential and critical elements of all MEP projects.  This quantification of impact occurs via an independent, neutral third-party survey firm.

We are pleased to report the following results from our latest round of client surveys:

Lifetime Economic Impact
Description Totals
Jobs Created and Retained 13,181
Sales Created and Retained $1,275,579,894
Cost Savings $181,296,826
Investment $298,896,275
Total $1,755,772,995
July 1, 2005 - December 31, 2016
Annual Economic Impact
Description Totals
Jobs Created and Retained 2,733
Sales Increased and Retained $254,093,332
Cost Savings $64,060,477
Investment $40,747,165
Total $358,900,974
January 1, 2016 to December 31, 2016

 

Client Perspective

Through this partnership with Purdue, we realized our planned new product, the Smart Actuator, had more potential than we thought. By concentrating on its benefits and pricing, we identified several new markets. Our primary goal is to build on a century of innovation by developing new products and extending our market leadership to the next generation at Hansen for another 100 years.

- William Poyner, President, Hansen Corporation

NIST

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