TAAF and Mid-America TAAC results
Since 1974, TAAF has helped thousands of U.S. manufacturers strengthen and solidify their competitive positions and prosper in the global marketplace. Mid-America TAAC clients have had increases in net sales and employment of greater than 10 percent while participating in the TAAF program.
TAAF is a proven, easy to-use program managed by business professionals who understand manufacturing.
TAAF makes a dramatic impact on manufacturers’ bottom line.
The following findings were reported on the TAAF program in EDA’s FY2016 annual report to Congress:
- Despite its low cost, TAAF has a large footprint. A total of 841 trade-impacted firms received assistance through the TAAF program in 2015. In sum, these firms employed almost 67,000 workers at the time they entered the program, and generated annual sales of more than $11 billion.
- Firm cost share is significant. Client companies received $9.5 million in TAAF assistance during 2015. They contributed another $5.8 million to undertake business improvement projects via the program. The TAAF program thus provided $15.3 million in assistance to firms.
- TAAF assists small manufacturers. All of the companies certified into the program last year were manufacturing firms with an average size of 79 employees and $14 million in sales.
- The program has a major impact on participating firms. Only 10 TAAC clients went out of business in 2015 — a firm survival rate of 99 percent for the year. This is particularly impressive given that firms must have declining sales and employment to qualify for TAAF.
- Firm performance is strong. Recent TAAF graduates improved their sales, employment and productivity by an average of 18, 9 and 8 percent respectively while in the program.
- The program’s impact on firms is long-lasting (EDA tracks recent program participants and reports on firm performance two years following TAAF completion). Two years after completing the program, TAAF graduates added more jobs, on average, than other manufacturers. They also grew sales by an average of 6.6 percent each year since leaving the program. Furthermore, all firms that completed the program in FY2013 were still in business at the end of 2015.
- TAAF supports exporting. Almost one-fifth of all projects approved in new recovery plans last year were explicitly designed to help firms increase export opportunities (19 percent).
Mid-America TAAC results
Each year the Mid-America Trade Adjustment Assistance Center (TAAC) collects sales and employment data from manufacturing firms in their region that have received assistance from the TAAF program to help measure the program’s effectiveness.
The performance results for firms that have been certified for the TAAF program and then implemented strategic projects to expand capabilities and improve their competitive position during the FY2012–2016 within the Mid-America TAAC program are impressive:
|Sales revenue growth since certification||34.6 percent|
|Client sales revenues for 2016||$863 million|
|Employment growth since certification||13.5 percent|
|Firm employment for 2016||5,184 employees|
|New manufacturing jobs created since certification||619 new jobs created|
What Mid-America TAAC’s clients say
“The Mid-America TAAC team has been tremendously helpful. They worked hard through the approval process to get money for our contract projects. We had to put skin in the game too which made us appreciate every dime of the grant. It’s a great program.”
– Scott Livington, Prier Products, Inc., Grandview
“My TAAC project manager was a phenomenal resource in assisting us in defining the scope of the grant and projects that would best benefit Cardinal’s investment in matching the grant. Once we received EDA’s approval, my project manager walked us through each step of the process in a transparent way that minimized our paperwork while ensuring all requirements of the grant paperwork were being met. As we worked through the grant over several years, some of our priorities changed, and our project manager helped us make minor course adjustments to maximize our benefit. Our project manager was an indispensable team member. We are sincerely grateful for the opportunity to participate in this exceptional grant program and from our Cardinal staff, a big thank you to our project manager and all the staff who helped make it possible.”
– Larry Hicks, Cardinal Scale Manufacturing Co., Webb City
“My TAAC project manager has gone above and beyond so many times. I wish all of my consultants were as helpful. I really sincerely feel my project manager was a true partner. We all work with people and everyone is overworked and underpaid, so it’s nice when someone is on your side, a partner in your success like my project manager.”
– Margaret Fitzgerald, Milbank Manufacturing Company, Kansas City
To get help
Contact us at 816-666-9420 or toll-free at 800-336-8205 (IA, KS, MO or NE) or email: Midfirstname.lastname@example.org