Launched in 2020, Manufacturing Readiness Grants have awarded $6.7 million to 87 Hoosier companies in 38 counties.
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. 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.
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.