Second Round Of Manufacturing Readiness Grants Awarded To 31 Indiana Businesses – WBIW.com

(UNDATED) The Indiana Economic Development Corporation (IEDC), in partnership with Conexus Indiana, announced the second round of awards totaling approximately $3 million to 31 Indiana businesses in Manufacturing Readiness Grants, which Governor Eric J. Holcomb firstannouncedin May.

The grants are part of the Economic Activity Stabilization and Enhancement (EASE) program designed to stimulate manufacturing investments that will position Hoosier operations, and the sector overall, for future growth and prosperity.

Its truly incredible to see manufacturers across the state of Indiana rise to the unprecedented challenges of this year, said Indiana Secretary of Commerce Jim Schellinger. The response we continue to see from the Manufacturing Readiness Grant program is remarkable, and Im am encouraged by the progress weve seen in getting these businesses back on track.

The 31 manufacturers receiving grants represent 21 Indiana counties and cover a wide range of specialties, including automotive, aerospace and defense, agriculture, machinery and construction, consumer packaging products, and health care and medical. Together, these businesses plan to invest more than $19.3 million in technology and equipment to position their businesses for future growth by increasing capacity and modernizing operations. Four of the manufacturers EARL Solutions LLC, Helmer Scientific LLC, Hightech Signs and Trinity Guardion LLC are accelerating operational investments in health care manufacturing technology to support critical COVID-19 response efforts.

Recipients include:

The IEDC initially made $4 million available for Indiana Manufacturing Readiness Grants and has since been able to expand the awards for Hoosier manufacturers with support of CARES Act funding. The awards are issued in the form of matching grants up to or equal to the amount of the qualified investment in new equipment and machinery (minimum 1:1 investment match).

While the allocated program funding has been exceeded, Conexus, with the input of a peer review panel, will continue to assess applications and make funding recommendations to the IEDC, which will fund select applications if and when additional funding becomes available. Eligibility requirements and the grant application are availableonline.

Digital transformation is critical for the future of Indianas manufacturing base, said Mitch Landess, vice president of innovation and digital transformation at Conexus Indiana. Conexus Indiana is pleased to help support so many small- and medium-size manufacturers make investments in smart manufacturing technologies.

About Conexus Indiana For more than a decade, Conexus Indiana, one of the Central Indiana Corporate Partnership (CICP) non-profit initiatives, has been positioning the Hoosier State as the best place for advanced manufacturing and logistics industries to invest, employ and succeed. By collaborating with industry, academic and public sector partners on a shared vision for an innovative, skilled workforce and stronger business climate, Conexus Indiana has helped to create opportunities for advanced manufacturing and logistics companies, prepare Hoosiers to succeed in the states largest industry sectors and maintain Indianas competitive advantage. For more information, go towww.conexusindiana.com.

About IEDC The Indiana Economic Development Corporation (IEDC) leads the state of Indianas economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visitwww.iedc.in.gov.

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Second Round Of Manufacturing Readiness Grants Awarded To 31 Indiana Businesses - WBIW.com