The Small Manufacturer’s AdvantEDGE program, a first-of-its-kind business assistance program, was selected as a nationwide best practice among economic development programs by the Manufacturing Extension Partnership — the manufacturing assistance arm of the National Institute of Science and Technology (NIST).
A collaborative effort of the Colorado Manufacturer’s Edge, the Colorado Small Business Development Center Network, World Trade Center Denver and the Colorado Office of Economic Development & International Trade, the Small Manufacturer’s AdvantEDGE program provides small manufacturing companies with industry experts for coaching, consultation, and/or training. The type of coaching and training assistance includes business strategy, advanced marketing analysis, operational excellence, export gap assessment and compliance, quality systems and certifications, facility layouts, new product development, supply chain management and market diversification.
Representatives from Manufacturer’s Edge and the Colorado Small Business Development Center network will present the program as a national best practice to attendees of the Manufacturing Extension Partnership’s annual conference September 11 – 14 in Kansas City, MO. By sharing this innovative approach with other state economic development agencies and engaging more communities throughout the nation, Manufacturer’s Edge fosters additional innovation and continued support of the nation’s manufacturing industry.
The program was seed funded with a $300,000 Advanced Industry Infrastructure grant awarded by the Colorado Office of Economic Development and International Trade. To date, the program has had over 170 applicants, 100 of which were awarded some form of assistance. Economic impact recorded to date includes over $9,194,500 in capital formation, $2,807,071 in company sales increases, and 96 new jobs created around Colorado.