This summer, The Indiana Economic Development Corporation and Conexus Indiana announced that the Manufacturing Readiness Grants would be extended through June 2023. What does this mean for Hoosiers? An additional $20 million is available for Indiana companies investing in smart manufacturing technologies.
The Manufacturing Readiness Grants, which debuted in 2020, was created to stimulate private sector investments that would help modernize Indiana's manufacturing sector. To date, 122 Hoosier companies have been awarded $9.7 million in grants, creating growth and prosperity in a dynamically changing marketplace.
APPLY FOR THE MANUFACTURING READINESS GRANT PROGRAM
Am I eligible for the Manufacturing Readiness Grant?
If you are a manufacturer in the state of Indiana planning on investing in smart technologies like artificial intelligence, 3D printing, cloud computing and analytics, cobots, etc. There are no restrictions on the size of the company but the degree to which the applicant is a manufacturer and the relationship to Indiana are significant considerations.
What is the application process like?
Applications are submitted through the Conexus portal and are reviewed by a committee of volunteers. Once a determination has been made, Conexus will notify the applicant. A realistic expectation to hear results is 3-4 months. Click here to view a sample application.
How big are the award amounts?
Grants can be any size, with the maximum being $200,000. The award must be matched by the applicant on a minimum 1:1 basis.
To learn more about smart manufacturing projects and how you can apply for Manufacturing Readiness Grants, visit conexusindiana.com.
Accounting for Manufacturing and Distribution