Manufacturing 4.0 Applications Are Open
March 10, 2023 | Economic Development & Workforce, Uncategorized
Manufacturing 4.0 grant applications opened for 2023 on March 1. These grants provide opportunities that encourage innovation through funding businesses and organizations that are developing new technologies and processes in the manufacturing industry. The impact from these grants can cause a ripple effect that positively impacts our community by promoting innovation, creating job opportunities, driving economic growth and even encouraging sustainability. The results can lead to increased efficiency and improved quality of life for the entire Cedar Rapids metro area.
“There will be more competition this year as our local companies are competing statewide for these funds,” said Ron Corbett, Vice President of Economic Development. “Applications are open until the funds run out. So, we encourage members to apply as soon possible.“
Last year, five Cedar Rapids Metro Economic Alliance members received Manufacturing 4.0 grant funds. The members that received Workforce Innovation grants include Crystal Group Inc. ($495,670), Midwest Metal Products ($500,000), New Leader Manufacturing ($86,250), Norman Scott Co. Inc., dba In Tolerance ($500,000) and Timberline Manufacturing Company ($500,000). Of the $21.9 million dollars awarded in Manufacturing 4.0 Workforce Innovation and Technology investmentgrants, Cedar Rapids businesses received $2,681,910 million dollars.
If your business or organization is interested their efforts to remain globally competitive within the manufacturing industry, consider applying for one, or both, of the Manufacturing 4.0 grants. The following grants are now open and available:
- Manufacturing Industrial Internet of Things (IIoT) Infrastructure Investment Grants. Eligible companies can apply for grants up to $25,000 for the purchase of specialized hardware or software in the Industry 4.0 technology groups.
- Manufacturing Innovation Equipment Grants. Eligible companies can apply for grants up to $50,000 for the purchase of specialized equipment aimed at helping manufacturers increase productivity, efficiency and competitiveness.
Companies have the opportunity to apply for a combined amount of $75,000 between the two grants over the lifetime of the business and a 1:1 match is required. Before applying for these grants, manufacturers must complete an Industry 4.0 assessment provided by Iowa State University’s Center for Industrial Research and Service (CIRAS).
The Economic Alliance is committed to helping manufacturers adapt and embrace the technological demands of the 21st century economy. According to the Iowa Economic Development Authority, advanced manufacturing generates more than $12 billion worth of exported goods and accounts for nearly 18% of the state’s GDP, making it the state’s largest industry. That is why Iowa Manufacturing 4.0 was born, to help companies invest in innovative solutions for the technological revolutions. For more information about these grant opportunities, make sure you check Iowa Economic Development Authority (IEDA) Manufacturing 4.0 guide. If you are a member of the Cedar Rapids Metro Economic Alliance and need assistance, please email firstname.lastname@example.org.
Corridor Companies awarded Iowa Manufacturing 4.0 grants
MANUFACTURING 4.0 TECHNOLOGY INVESTMENT GRANT PROGRAM PDF
Innovative Technology Infrastructure Grants