Program Success Stories
2015-2016 Matching Grant Program Success Stories
CNE Direct, Peabody
CNE Direct, which offers green recovery and disposal of used technology, applied to the SBANE program in 2015 to assist them in tying the technology and data output from the processing facility to the front office.
CNE contracted with RSM, a world leading provider of audit, tax and consulting services in Boston, to identify the inefficiencies caused by running non-integrated inventory and financial management systems, and to design an all-encompassing process to capture and account for the differences in the two systems.
“The process improvements have allowed for better revenue recognition practices and more accurate financial results and timely reporting, allowing for increased overall operating efficiency” said Nicole Simmons, VP of Production and Development.
“Gross Margin has increased from 18.19% to 22.3%, while Net Income has remained stable. This is a direct result of streamlined processes producing better reporting, allowing for selectivity in deal making that will ensure more stable and stronger revenue growth for the future.”
2013-2014 Matching Grant Program Success Stories
In the fiscal year of 2014, SBANE’s Manufacturing Matching Grant Program assisted 41 manufacturing companies, supporting 1,661 jobs throughout the Commonwealth. The consultants working with our applicants ranged from software consultants, to legal consultants, to marketing consultants, and more. The recipients of these grants were pleased with the meaningful impact these grants were able to make.
One participant, Koso America, manufacturer of Hammel Dahl Control Valves and REXA Actuators, finished their project a month ahead of schedule with great success. The company was grateful for the user-friendly grant process and was pleased with the work of the chosen consultant. The company’s recent 12/12 month results comparison include a 35% sales increase, a 10% export increase and 15 full time people added. They also have an LOI to lease a new building under construction for additional manufacturing capacity.
Additionally, recipients reported on how smoothly the program ran. Bixby International shared that the SBANE grant “process was streamlined and easy to navigate.” And NEDC Sealing Solutions (previously known as New England Die Cutting) stated that, “the SBANE grant process has been nothing short of terrific.” Having come out of an overwhelmingly successful round for FY2014, we are looking forward to witnessing the continued growth of SBANE’s Matching Grant recipients.
2012-2013 Matching Grant Program Success Stories
NEDC Sealing Solutions, Haverhill
NEDC Sealing Solutions, offering EMI Shielding Solutions to both military and commercial sectors applied to SBANE’s grant program in 2014 to help them implement an
RFID System in their facility.
“We have saved over $3,000.00 in material costs so far, because of RFID technology. We have thousands of different types of materials, so it’s hard not to lose material within a 20,000 sq ft building” said Kim Abare, President of NEDC Sealing Solutions. ” Now the RFID tells us within 5-10 ft, where the job is. This has saved us 4-5 times so far, that I know of. NEDC appreciates the grant received and hopefully SBANE can revel in the fact that the money has gone to good use”.
Headwall Photonics, Fitchburg
Headwall Photonics, a Massachusetts manufacturer of hyperspectral imaging spectrometers and spectral instrumentation, came to SBANE’s Matching Grant Program looking to maintain a competitive edge by manufacturing the next generation of sensor analysis.
Headwall identified a consultant to write an algorithm that allowed them to successfully create and sell their own software package
“Headwall has achieved a $10,000 return on our $14,000 grant investment from 2013 and hope to generate additional profits of between $50,000 -$75,000 in 2014,” said Peter Clemens, Director of Engineering at Headwall. “In general the grant program allowed Headwall to push its technical boundaries into areas often difficult to fund while meeting day to day manufacturing business expenses. This program is a good example how state funding can directly, quickly and efficiently help jumpstart economic growth within the small business community.”
Saloom Furniture, Winchendon
Since 1982, Saloom Furniture Company, has been specializing in handcrafted dining furniture designed by New England artisans.
In 2012, Saloom came to SBANE looking to hire consultants to increase Internet sales, marketing and distribution as well as protect the company from job loss. Saloom’s current website drives traffic to their brick and mortar stores and Linda and Peter Saloom worried about being left behind as more and more manufacturers moved to on-line retail.
“Sometimes a small investment at a crucial time can make a huge difference to help us modernize our business products, methods and distribution,” said Peter Saloom.
The new Saloom Furniture Company website will be launched in January 2014 and focus on two of their smaller collections, representing about 10% of their sales. “We hope to double our sales in this category” said Linda Saloom. “This is a big deal for us; we’ll be able to do some incredible things. There is a lot of potential for growth now.”