Industry Study Finds Pennsylvania Home to Rising Vanguard of Innovative Learning Firms; Two-Thirds of Pennsylvania's Small to Mid-Sized Manufacturing

PHILADELPHIA, Dec. 13 /PRNewswire/ -- A new study commissioned by the Pennsylvania Industrial Resource Centers (IRCs) shows that 66 percent of Pennsylvania's small-to-mid-sized enterprises (SMEs) within the manufacturing sector have increased their profits in the last three years. The study, entitled "Innovative Manufacturers: Leaders Who Learn to Win," showed that firms in the 20-500 employee range were in a stronger competitive position than in 2003. The comprehensive study was conducted by Echo Strategies.

The findings indicate what it takes for Pennsylvania manufacturers to become Innovative Learning Firms (ILFs), characterized by their commitment to change, adherence to aggressive growth goals and investment in talent development. Specifically, the study found that there is an emerging vanguard of manufacturers in the Pennsylvania economy demonstrating committed investment in product, process innovation, learning, strategic planning and talent development. Additionally, the study concluded that there are a growing number of enterprises in Pennsylvania ready to respond to the example of ILFs and they are eager to emulate successes.

"Pennsylvania manufacturers are taking impressive steps towards developing innovative solutions in response to the challenges of the global marketplace," said Joe Houldin, CEO of the DVIRC, an economic development organization dedicated to assisting SMEs in the Philadelphia region grow business value and enhance their competitive position. "It's truly encouraging to see that business leaders are investing in innovation, learning, strategic planning and talent development."

From a leadership perspective, ILFs are led by CEOs who advocate open organizations that share as much information as possible, seek to improve processes, and listen to employees for improvement ideas and implementation. The study found that ILFs employ strategic plans, use third party resources to refine and validate planning and have a formal process to track industry and market changes.

"There are a number of key innovative learning tactics Pennsylvania manufacturers can use in order to grow their business," said Spencer Hoos, president & CEO of the Engineering Arresting System Division of the Zodiac Group. "Business leaders need to commit to change, set and perform to aggressive growth goals and invest in talent development. And it all starts at the top with leadership committed to learning."

About DVIRC

The DVIRC is an economic development organization established in 1988. The DVIRC assists small and mid-sized manufacturers grow the value of their business in three core areas: Consulting Services, Talent Development and Corporate Finance / Growth Capital. Our business focuses on improving the performance of the entire organization through four key pillars of excellence: leadership, strategy, culture and operations. We believe growing business value improves the standard of living and quality of life for those that live and / or work in the region. A diverse board of directors comprised of executives from the manufacturing, banking, legal and economic development communities govern the DVIRC.

About Echo Strategies

Echo Strategies is a Professional Services firm specializing in helping clients listen to their key stakeholders using novel but simple methods. The firm has a strong regional and national client base including organizations such as Bayer Corporation, Respironics, Carnegie Science Center, U.S. Pipe, University of Nevada Las Vegas, Home Depot and Carnegie Mellon University.

For more than 50 years, Engineered Arresting Systems Corporation (ESCO), the cornerstone of Zodiac's Emergency Arresting Systems Division (EASD), has led the world in the production of aircraft arresting systems, controlling and harnessing energy for safe emergency aircraft landings.

Our innovative, reliable products save lives... aircraft... and much more. ESCO's energy control expertise extends into areas that include perimeter security/containment, vehicle arresting systems (VAS) and unmanned vehicle launch/recovery (UAV). A strong product support service network, along with ISO 9001:2000 quality, enables these systems to be available and dependable when needed.

The success of our products is a reflection on our talented people, our state-of-the-art engineering and our streamlined manufacturing. As the future brings new challenges we believe Smarter is Safer.

CONTACT: John Miller for DVIRC, +1-215-564-3200 ext. 114,

jmiller@braithwaitepr.com ; or Mark Basla of DVIRC, +1-215-464-8550 ext. 240,

mbasla@dvirc.org

Web site: http://www.dvirc.org/

SOURCE DVIRC