This paper reports on a study that sought to determine the relationships between investment in education and training and performance in production, quality, and safety in manufacturing companies in northeast Alabama and northwest Georgia. The study also examined whether company size was a factor in predicting the ratio of the investment. One hundred and eight questionnaires from manufacturing companies with 50 or more employees were included in the study. These questionnaires supplied information about the companies; how the companies performed in production, quality, and safety; and the investment in education and training. The study confirmed the findings of the literature survey that not enough attention has been paid to the financial accountability of the education and training functions with manufacturing concerns. Results also supported the conclusion that there had been little systematic effort in neither the manufacturing industry nor academia to generate and gather empirical evidence concerning the veracity of the evaluation process and the contribution of education and training to the bottom line in manufacturing companies. Consequently, there appears to be a lack of understanding and appreciation for the contribution of education and training to business success. (Contains 28 references.) (DFR)