INDIANAPOLIS (June 10, 2021) – Applications for the Manufacturing Readiness Grant program, which was launched to stimulate private sector investments to modernize Indiana’s manufacturing sector, have re-opened to Indiana manufacturers across the state. Administered by the Indiana Economic Development Corporation (IEDC) in partnership with Conexus Indiana, this program has been extended through June 2023 with matching grants available to help respond to the global COVID-19 pandemic and position Hoosier operations for future growth and prosperity.
“The response we received from Indiana businesses to the Manufacturing Readiness Grant program is proof Indiana companies want to modernize and set themselves up for a successful future,” said Governor Eric J. Holcomb. “With one in five Hoosiers working in the advanced manufacturing industry, this funding can truly go a long way to promote future innovation and provide more quality career opportunities for Hoosiers across the state.”
First launched in 2020, the Manufacturing Readiness Grant program has awarded $6.7 million in grants to 87 Hoosier companies in 38 counties. The funding has supported technology-based capital investments that are projected to be more than $50 million. Based on the strong response to the program, the Indiana General Assembly appropriated $20 million in the two-year state budget that runs through June 30, 2023.
An array of innovative technologies are being adopted by grant awardees such as the Internet of Things (IoT), cloud computing and analytics, advanced modeling, additive manufacturing, artificial intelligence and cobots. These technologies are being implemented at dozens of small- and medium-sized manufacturers to increase production flexibility and responsiveness to customer demand, gain real-time visibility into equipment performance and operational efficiency and improve workflows that enhance health, safety and workforce productivity.
“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.”
Indiana companies are encouraged to review eligibility requirements and submit applications online.
Grants must be matched by the applicant on a minimum 1:1 basis. Grants undergo a rigorous peer review and recommendation process by a statewide committee of manufacturing professionals representing industry, academia, private equity and more.
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 state’s largest industry sectors and maintain Indiana’s competitive advantage. For more information, visit conexusindiana.com.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s 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, visit iedc.in.gov.