Commercial & Institutional Air Conditioning Units Manufacturer’s Success Story
When a commercial & institutional air conditioning units manufacturer faced steep declines in sales and rising foreign competition, they turned to MATAAC for help. What followed was a powerful turnaround, fueled by strategic planning, federal funding, and expert support through the TAAF program.
Challenges
Eligibility to Participate in the TAAF Program (Keep & h3 or id you don’t like remove)
When this Commercial & Institutional Air Conditioning Units Manufacturer sought the assistance from MATAAC, their eligibility to participate in the TAAF program was established based upon:
- Overall sales had decreased by 32.35% compared to the previous year.
- The firm’s total workforce had undergone total separation and decreased by 27.11% over a 12 month period.
Petition Certification as Trade Impacted Manufacturer was approved.
Solutions
With Petition Certification secured, MATAAC was able to prepare this Commercial & Institutional Air Conditioning Units Manufacturer’s Business Recovery Plan.
Technical assistance was requested and approved for Marketing, Sales, Manufacturing, IT, Engineering and Managerial Finance improvement projects. The client-firm received $150,000 of project implementation. MATAAC cost-shared $75,000 in federal funds in the implementation of identified improvement projects. Some of the projects implemented by the firm included:
- Sales Upgrades
- Website development
- Web-based Product Quotation
- Marketing Strategy products
Success Story
One year after completion of the TAAF Program with MATAAC’s assistance, this Commercial & Institutional Air Conditioning Units Manufacturer experienced the following improved performance metrics.
- Sale increased by $11.6 million dollars ( an 116.71% increase)
- Employment increased by an additional 46 positions (74.67% increase)
- Operating profits improved by over $914 thousand dollars
How MATAAC Serves Mid-Atlantic Manufacturers
This exciting success story is just one of many examples of how a company successfully recovered and thrived through MATAAC’s expertise and funding support through the TAAF program.
For over five decades, MATAAC (MidAtlantic Trade Adjustment Assistance Center) has helped manufacturers tackle trade challenges, regain competitiveness, and boost profitability. MATAAC provides solutions to manufacturers located in Delaware, Maryland, Pennsylvania, Virginia, West Virginia, and Washington D.C. MATAAC has been chartered by the Economic Development Administration of the U.S. Department of Commerce with responsibility for the management of Trade Adjustment Assistance for Firms (TAAF) program. The TAAF program is a crucial resource that supports businesses in navigating global market shifts. With TAAF resources, MATAAC was able to help this manufacturer overcome trade challenges.