Manufacturing Innovation Fund Approves $10.8M in Project Funding
Connecticut’s Manufacturing Innovation Fund advisory board approved $10.8 million in funding for a number of projects at its October meeting.
Top of the list was the $5 million the board approved through June 30, 2024 for the Manufacturing Voucher Program, which provides eligible companies up to $100,000 for the purchase of specialized equipment or expertise.
The voucher program has awarded 600 companies over $27 million in matching grants since 2015, creating or retaining 1,532 jobs, according to the MIF’s 2022 annual report.
The Connecticut Center for Advanced Technology, which administers the voucher program, began accepting new funding applications Dec. 1.
The board also allocated $2.27 million over two years to support FIRST Robotics programs across the state.
FIRST engages young people in programs that motivate them to pursue education and career opportunities in STEM fields.
CBIA affiliate ReadyCT will lead FIRST Robotics programming in partnership with ingenuityNE/NE FIRST.
The board allocated another $2 million over two years to the Office of Manufacturing’s Hearts and Minds 2.0 campaign, which promotes and markets manufacturing as a career choice.
The Engineering Internship Program, which provides wage subsidies for qualified companies that hire interns, was awarded $1.08 million over two years.
Another $497,219 was allocated for two years to fund career roadshow programs that introduce middle and high school students to manufacturing careers.
The ReadyCT-managed roadshows engaged more than 5,000 Connecticut students this year.
The two-year state budget approved by the legislature earlier this year included $30 million for the MIF, which supports innovation, technology, and workforce initiatives for small and midsize manufacturers.
The fund has invested $90 million in the manufacturing sector since 2015, helping almost 2,200 companies create or retain more than Connecticut 21,900 jobs.
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