State Extends Manufacturing Readiness Grant Program
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Indiana Economic Development Corp. is extending the state’s Manufacturing Readiness Grant program for another two years. The program was launched last year in partnership with Conexus Indiana to support technology-based capital investment by Hoosier manufacturers and help them respond to the pandemic.
Since its launch, the program has awarded nearly $7 million to 87 companies throughout the state. The Indiana General Assembly earlier this year approved a $20 million appropriate for the program in the newest biennial state budget.
The IEDC and Conexus say the initial grant recipients have used the funding for a variety of technologies to modernize their operations, including Internet of Things, cloud computing, artificial intelligence and cobots.
“While many Indiana manufacturers made digital transformation progress in 2020-2021 with investments in their first production 3D printer, autonomous mobile robot, cobot or other industry technology enabled by the grant, many more need to take steps to ensure their future and accelerate Indiana’s digital journey,” said Mitch Landess, vice president of innovation and digital transformation at Conexus Indiana. “These grants have given hundreds of companies the confidence to invest in smart manufacturing technologies. The expansion of the grants program will continue to hasten manufacturers’ adoption of industry 4.0 technologies and help our state lead in the Fourth Industrial Revolution.”
Interested businesses can learn about the eligibility requirements and how to apply for a grant by clicking here.