The state has launched a $3.5 million voucher program to help manufacturers solve engineering and marketing challenges, officials announced.
The vouchers, overseen by the Department of Economic and Community Development and the Connecticut Center for Advanced Technology, are a part of the state’s recently created $30 million Manufacturing Innovation Fund, which provides loans and grants to advanced manufacturers for training and other needs.
The legislature created the fund earlier this year to help manufacturers prepare for an anticipated ramp up in aerospace manufacturing activity starting next year.
The voucher program will provide matching grants between $5,000 and $50,000 on a first-come first-serve basis to manufacturers that need strategic or technical expertise from universities and other consultants. The money can also be used as leverage for federal grants.
Only manufacturers with 300 or fewer employees are eligible, and projects must have a value of at least $10,000.
In addition to the Manufacturing Innovation Fund, the legislature this year also approved a $100 million bond package for the 24-year-old Manufacturing Assistance Act, which provides low-interest loans and incentive-driven loans for projects with high potential for job creation or other economic benefits.
