“We are excited and honored to remain a part of this incredible network,” says John W. Kennedy, Ph.D., CEO of NJMEP. “This is pivotal to our mission of helping New Jersey’s manufacturers become more globally competitive, and achieving this goal has reignited our commitment and passion towards helping New Jersey’s manufacturing community.”
For every dollar of federal investment, MEP clients generate nearly $19 in new sales, which translates into $2.5 billion annually according to NIST. For every $2,001 of federal investment, MEP creates or retains one US manufacturing job.
The funding was earned after a vigorous proposal and competition process. As reported by NIST, “proposals were reviewed by government and independent experts and evaluated against a number of criteria, including demonstration of a thorough understanding of market needs and how proposed service offerings would meet those needs.”
“The reviewers also looked at the proposed business models, performance measurements and metrics, partnership potential, staff qualifications and program management, as well as financial and non-federal cost-share plans. The new agreement reduces the centers’ cost-share burden by reducing the amount of required matching funds from non-federal sources.”
When asked about the selection, Senior New Jersey Senator Robert Menendez stated, “A robust manufacturing industry is an essential part of a healthy economy, so that is why I am delighted to see proven programs like NJMEP receive the funding necessary to continue providing critical support to our New Jersey manufacturers. This sound investment will allow NJMEP to continue boosting our economy by creating good paying jobs and keeping our state economically competitive in a global market. As our economy continues to recover, I remain committed to fight to give every New Jersey business a chance to prosper and create the jobs we need.”