Thirty-one businesses in Indiana have been awarded a total of $1.5 million in grants to stimulate manufacturing investments in the state.
The Indiana Economic Development Corporation (IEDC) and Conexus Indiana announced the third round of matching grants which were launched last spring as part of the Economic Activity Stabilization and Enhancement (EASE) program.
“As a state, it’s critical that we support manufacturers as they modernize their operations and efficiencies to succeed in today’s 21st century economy,'' Gov. Eric Holcomb said in a statement. “Like many industries, this sector has faced unprecedented challenges this year yet these Hoosiers are pushing full steam ahead. We’re encouraged by their continued commitment to enhancing and growing their businesses, solidifying our state’s reputation as the top manufacturing state in the nation per capita.”
The 31 manufacturers, from 21 Indiana counties, have plans for $15 million in investments in technology and equipment, according to news release. The grants require the companies to match the awards in purchases of new equipment and machinery.
Five of the companies are ramping up production to support the response to the COVID-19 virus, the news release said.
Aero Machine & Manufacturing LLC in Porter County, which received a $40,000 grant under the program, is installing a new, high-tech lathe, the news release said. The company offers engineering and fabrication services.
DQE Inc. in Monroe County, which received a $133,648 grant, is buying a company a new cutting machine to boost its manufacturing of safety and preparedness products for the health care industry.
Another company, Culver Tool and Engineering Inc. in Marshall County received a $79,455 grant. It makes orthopedic implants and instruments for spinal surgery.
“It’s a very positive indicator when this many manufacturers, this geographically dispersed throughout the state, and operating in so many sectors are making investments in smart manufacturing technology,” Mitch Landess, vice president of innovation and digital transformation at Conexus Indiana, a nonprofit organization. “It leaves you very optimistic about the future.”