Suction Regulators Manufacturer’s Success Story
When a suction regulators 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
When this Suction Regulators Manufacturer sought the assistance from MATAAC, their eligibility to participate in the TAAF program was established based upon:
- During a 12 month period, sales declines met the TAAF’s 25% of a production line rule,
- The firm experienced a 12% decline in employment.
- Imports of similar and like products had increased by 19% during the period.
Petition Certification as Trade Impacted Manufacturer was approved.
Solutions
With Petition Certification, MATAAC was able to prepare this Suction Regulators Manufacturer Business Recovery Plan.
After working in partnership with the client-firm’s management team, a complete diagnostic review, SWOT analysis, and other key business improvement strategies were reviewed and a Business Recovery Plan was developed.
Technical assistance was requested and approved. The client-firm received $92,500 for project implementation. MATAAC cost-shared $46,250 in federal funds in the implementation of identified improvement projects. Specific projects included but were not limited to:
- Customized Software
- Strategic Sales Solutions
- Marketing Studies projects
Success Story
One year after completion of the TAAF Program with MATAAC’s assistance, this Suction Regulators Manufacturer experienced the following improved performance metrics:
- Sales increased by over $4.5 million dollars (94.01% Increase in sales)
- Increased employment by 22 production positions (78.51% increase in employment)
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.