The Strategic Early Warning Network (SEWN) is charged with early identification of manufacturing firms that are in trouble and providing business retention services in the form of technical assistance and investment banking related activities to these firms, once identified.
SEWN maintains research and outreach capacity and its staff continually monitor the regional and national economic environment in an effort to connect with companies and indeed entire manufacturing segments that may be experiencing problems. In addition, SEWN maintains a small, specialized internal capacity to provide a core set of services to these companies.
The SEWN program developed and administers an ever-growing external network of partners to augment its in-house capacity. SEWN has, from its beginning, attempted to build bridges and partnerships between the public and private sectors, labor and management, economic development and workforce development and in doing so created the Regional Retention Team ("RRT").
The Economic Development components of the RRT consists of county as well as select regional development professionals such as the Pittsburgh Regional Alliance and the SBDC's in the SEWN region. These team members represent the counties throughout SEWN's territory, as well as representatives from the Governor's Action Team whom can provide a direct conduit to the Governor's office. These professionals are often the first to hear of problems through their local business calling programs and deep local networking ties. They are often key to any public financing applications and often know of local angel investors. In addition, private sector development professionals representing major utility companies such as First Energy, Allegheny Power and Duquesne Light are represented.
The Workforce component draws a diverse group of labor leaders, representatives from the Pennsylvania Department of Labor's Rapid Response Team (The primary funder for the SEWN program), and the Workforce Investment Boards. In addition to providing more "ears to the ground" in learning of situations early, they provide critical bridges to training, regional market trends and in labor-management relations initiatives.
Through team members from the private sector, including various major Chamber of Commerce leaders and the SBDC's, the Regional Retention Team has an important link into the private sector network as well.
The Regional Retention Team meets on a periodic basis to discuss major strategic issues common to the region and operates on an informal basis as individual retention issues arise. The Steel Valley Authority provides a focal point for marshaling the resources of the network and provides the following types of in house services:
- Financial Restructuring - to enable the business to meet its current financial obligations and investment needs.
- Buyouts - to secure the investors, management, and new business plans necessary to change the ownership, organization, and direction of the business.
- Succession Planning - to enable closely-held, family businesses to make the transition from one generation of owners to the next.
- Labor-Management Relations - to enable the business to implement strategies that will improve its productivity and competitiveness.
- Operations and Cost Management - to assist the business in reducing its cost of goods sold, securing new markets for its services, improving the quality of its products, and utilizing new technologies in order to return it to competitiveness in the marketplace.
