The Indiana Economic Development Corporation (IEDC), in partnership with Conexus Indiana, announced the sixth round of awards totaling nearly $4 million in Manufacturing Readiness Grants to 43 Indiana businesses, supporting a projected $46.1 million in technology-enabled capital investment across Indiana.
“Manufacturing is in Indiana’s DNA—we build things,” said Governor Eric J. Holcomb. “The demand for the Manufacturing Readiness Grants program has proven time and time again to us that these investments help Hoosiers build things better.”
Launched in 2020, the Manufacturing Readiness Grants program was created to stimulate private sector investments to modernize Indiana’s manufacturing industry. Since then, $17.4 million in grant funding has been awarded to 212 companies in 60 counties, prompting proposed projects with combined budgets of $138.9 million and $22 million in estimated new wages.
"Technologies play a critical role in Hoosier manufacturing and are key as we continue to build a tech savvy economy of the future," said Indiana Secretary of Commerce Brad Chambers. "Through the Manufacturing Readiness Grants program, we'll ensure new equipment secures Indiana’s competitive advantage globally, encouraging further capital investment and positioning us to become an even more dominant player in the advanced manufacturing age."
In recently published case studies, Conexus Indiana provides an in-depth look into various completed projects, highlighting business impact and outcomes. These, along with data analysis from applications and surveys, find:
- Rather than displacing workers, investments in technology are freeing workers from tedious tasks to perform higher-value, higher-paying functions.
- Awards support modernization at primarily small and midsized firms (average of 165 employees) with long histories of participation in Indiana’s manufacturing economy (average of 37 years in operation).
- The most adopted technologies include robotics, cobots, 3D printing and next-generation machines with sensor-enable features such as data analysis, machine learning and artificial intelligence.
- 68% of companies report Manufacturing Readiness Grants have enabled or expanded the scope of technology projects, and an additional 26% say the grant accelerated project timelines.
“The Manufacturing Readiness Grants program is clearly a powerful tool in our work to ensure that Indiana companies, at all levels of the globally competitive supply chain, adopt the new technologies important for the future of Indiana’s manufacturing economy,” said Mitch Landess, vice president of innovation and digital transformation at Conexus Indiana. “Conexus Indiana’s vision is to affirm Indiana as the center of innovation and digital transformation, and it’s clear we are squarely on the path of achieving that distinction.”