A new report by Summit Consulting and the Upjohn Institute finds the National Institute of Standards and Technology’s Hollings Manufacturing Extension Partnership (MEP) Program generates a substantial economic and financial return of 17.2:1 for the $175 million invested in fiscal year 2023 by the federal government.
The study finds that total employment in the U.S. was nearly 309,000 higher because of MEP Center projects. The study also examined areas of economic impact not previously reported by the MEP Program, finding (1) personal income is $22.5 billion higher and (2) GDP is $34.1 billion larger, translating into an increase of $3.0 billion in personal income tax revenue to the federal government than without the MEP Program.