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San Diego Company Celebrates Manufacturing Milestone
IPS Parking Meter Technology Is Warmly Welcomed by City Leaders by Providing Greater Public Convenience While Increasing Revenue
San Diego, December 11, 2012 /PRNewswire/ — IPS Group, Inc., an industry leader in intelligent parking technologies, celebrated a major milestone this month with its 100,000th parking meter being manufactured in the USA. The company’s success has benefited those locally by developing many multiple skill level jobs at its corporate headquarters based in San Diego, CA. The meter technology itself has also contributed positively to many cities across the U.S. and Canada by providing greater customer convenience, access to intelligent parking system data, and a highly cost effective solution to upgrade aging parking meter infrastructure.
“This is an accomplishment that has been years in the making,” said Dave King, President & CEO at IPS Group. “We’re obviously very proud of reaching this milestone. It’s testament to the strong work and dedication of our team, the quality of our products, and the customer–oriented passion we have for the great customers that we serve.”
As many small companies have been negatively impacted by the most recent economic downturn, IPS has thrived in providing cities with a technology that meets a significant unmet need in the marketplace. Not only does the technology cost significantly less than alternatives such as pay–stations or parking kiosks; the IPS single space credit–card meter makes paying for parking much more convenient versus those same alternatives. These facts have driven most cities to embrace the IPS single space meter approach in recent years. In addition, these intelligent meter systems are providing cities with valuable data that greatly enhances their parking management and meter operations.
Since 2007, with their first installation in Huntington Beach, CA, the company has helped cities increase revenue by over $50 million dollars collectively, with an average increase of 20% – 30%. That’s no small feat given the state of the the economy during the company’s explosive growth. Credit card capability and parking meter reliability have been two major factors in that achievement; in fact, credit card transactions account for an average of 45 percent of parking meter transactions and that percentage is growing.
“We have seen how IPS has changed the parking meter industry and we’re proud to have been a part of it from the beginning,” said Dennis Thompson, City of Huntington Beach parking meter supervisor. “Our customers enjoy the convenience of paying where they park and we like buying from a company that designs and assembles their products in the USA.”
IPS has frequently been referred to as “the company that saved the single space parking meter” by developing a meter mechanism that could easily retrofit into existing meter housings and offer additional payment options, such as debit/credit cards and smart cards. The company has meters installed in over 100 cities in North America.
IPS has grown from 5 to 80 employees in the last seven years and that number is steadily climbing. The company is also proud of giving back to the communities that it serves. IPS was recently honored with the prestigious Vic Kops Humanitarian Award by the Downtown San Diego Partnership for their donation of parking meters to be used as donation stations to help end homelessness.
About IPS: IPS Group is the only proven, patented provider of solar–powered, credit card enabled, single–space parking meters in the world. The end result is greater convenience for motorists, real time parking data for the city, and a technology that will grow with your parking programs needs. With 100,000 IPS meters and more on the streets every day, parking is only going to get easier.
For more information about IPS Group please visit www.ipsgroupinc.com or call 858.404.0607.
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