Just-In-Time Funding

 

Oct. 7, 2004--Small and medium sized manufacturers can rest easy now that a popular and successful form of government assistance will remain available to companies that need it.

On September 29, Congressional budgeters approved emergency funding for the Manufacturing Extension Partnership, a Commerce Department program that provides business consulting services, via a network of 350 nationwide not-for-profit centers, to small and medium sized manufacturers.

The new cash inflow of $8.5 million will allow the MEP to remain operational until fiscal year 2005 funds are dispersed. This emergency money was critical since the MEP's FY 2004 budget had been cut by approximately 70% to $39.6 million. Already, however, Congress has planned for the program's revival. The House has approved a FY 2005 budget of $106 million for the program while the Senate Appropriations Committee approved $112 million.