The Indiana Economic Development Corporation (IEDC), in partnership with Conexus Indiana, announced the fifth round of awards totaling more than $3.6 million in Manufacturing Readiness Grants to 44 Indiana businesses to support a projected $23 million in technology-based capital investment across Indiana.
"Historically, manufacturing has been the bedrock of Indiana’s economy, and Hoosier manufacturers continue to prepare for the future by investing in smart technologies," said Governor Eric J. Holcomb. "Supporting advancements in the manufacturing industry through the Manufacturing Readiness Grants program, Indiana is accelerating our state’s digital transformation, preparing for the economy of the future and creating more opportunities across the state."
Launched in 2020, the Manufacturing Readiness Grants program was created to stimulate private sector investments to modernize Indiana’s manufacturing industry. Based on the program’s success, the Indiana General Assembly appropriated $20 million in additional funding to the two-year state budget that runs through June 30, 2023, to help position Hoosier operations for future growth and prosperity. Availability of the new funding on July 1, 2021, has enabled a total of 169 awards to date totaling more than $13.4 million in grants to Hoosier companies in 54 counties, supporting technology-based capital investment projected to be nearly $93 million.
The 44 grant recipients in this round include companies from 24 Indiana counties and cover a variety of specialties, including entertainment and decor, industrial applications, injection molding and medical devices.
"As Indiana continues its march toward Industry 4.0 technology adoption, we are seeing a lot of momentum with companies implementing cobots, machine vision, advanced sensor technologies and automation to increase quality, flexibility and agility, employ lights-out manufacturing and launch digital plant initiatives. There have really been some impressive digital investments," said Mitch Landess, vice president of innovation and digital transformation for Conexus Indiana. "At the same time, we are collecting and publishing substantial data on the technologies and their positive impact on the workforce and business growth to the Conexus Indiana website and later as part of a detailed study measuring the effectiveness of the program."
Recipients include:
Metal Forming Industries (Putnam County; $85,000 grant award) is a manufacturer that performs custom, cold-forming and precision machining of custom-designed industrial components. The company is purchasing a new, custom-built, 200-ton hydraulic forming press with Industrial Internet of Things (IIoT) capability as part of its migration to cobots.
Creative Works Inc. (Morgan County; $75,000 grant award), a company that designs, fabricates and installs immersive amusement experiences such as escape rooms, virtual reality, esports venues and indoor miniature golf courses, is investing in advanced equipment to manufacture products compatible with mixed, augmented and virtual reality technologies.
SHIELDS (Morgan County; $60,000 grant award) is a plastic parts manufacturer and post-coater offering a line of windscreens, windows, shields and canopies for heavy machinery, racecars and boats. The company is entering a multiphase growth strategy, starting with IT upgrades, including commercial Wi-Fi, mobile tablet deployment, production software implementation as well as 3D product scanner installation.
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.
