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The Wisconsin Profitable Sustainability Initiative (PSI), an innovative, customizable and highly-effective program of the Wisconsin Manufacturing Extension Partnership (WMEP), demonstrates the range of economic, social and environmental benefits that can be realized by the state's small and midsize manufacturers through the implementation of sustainable business practices.
As an established leader in the sustainable manufacturing sector, Wisconsin is just one example of a state using federal stimulus funding to support the Administration’s goals for investing in small businesses.
The Badger State has been tenacious in using sustainable practices and manufacturing sustainable products. For example, the Wisconsin Profitable Sustainability Initiative (PSI) is designed to implement sustainable business practices within small- and medium-sized manufacturers. Thanks to financial support from the Wisconsin Economic Development Corporation and funding from a grant from the Energy Department’s State Energy Program, this specific program has been able to increase its outreach and support to local organizations.
Established only two years ago, almost 100 small- and medium-sized businesses have already benefited from the program. In addition, come 2015 – only three years from now – electricity demand from these participants will be reduced by nearly 13 million kilowatt hours, and 9,000 tons of solid waste will be diverted from landfills.
The establishment of the PSI has resulted in a wide range of economic, social and environmental benefits in the long term. The three-year return on investment is projected to be 25 to 1, with more than $52.7 million of reported aggregate economic impact.
The PSI team includes energy, environmental, logistics, lean and finance experts who implement improvements in the participants’ business enterprises in order to achieve immediate and long-term results in fast-paced manufacturing environments. With 98 firms participating in the program, projections on the five-year economic impact is projected to be $75 million.
To learn more about the Wisconsin Profitable Sustainability Initiative, watch the video above – highlighting the team and a few of the local beneficiaries.