Imagine the strides your company will make as keep pace with manufacturing technology.
Exciting things are in store for Illinois’ small and mid-sized manufacturers (SMMs) in the coming year! If you haven’t heard already, IMEC recently announced the revolutionary Illinois Manufacturing Innovation Voucher program for SMMs to invest in R&D and technology adoption.
SMMs are vital to the economic well-being of Illinois, and to continue a thriving manufacturing industry in the state, the Illinois Manufacturing Innovation Voucher will lead to a total of $2.5 million in investments to assist with approximately 50 projects in the next year.
Eligible manufacturers will receive up to $25,000 in matching funds to gain access to external experts who can assist with technology adoption challenges and offer solutions that result in productivity gains. With new technologies transforming the industry, timing is perfect for companies to take advantage of this opportunity to adopt new manufacturing technologies in their products or processes that will result in:
- Improved organizational growth
- Enhanced productivity
- Increased employee retention
- Creation of new jobs
- Improved profits
- Economic equality through innovation in rural areas of Illinois
What kinds of projects are eligible for the Illinois Manufacturing Innovation Voucher?
The voucher will support projects that include new technology products or existing product enhancements that require technology insights, as well as productivity improving technologies for the operations. Examples of projects that meet eligibility requirements are:
- Consulting on product or service development
- Process redesign
- Development and implementation of technology solutions
- Feasibility and cost-benefit analysis
Expecting to assist with approximately 50 projects in the coming year, the Illinois Manufacturing Innovation Voucher will ensure a thriving manufacturing base in Illinois. Since the announcement in early November, applications have been rolling in from SMMs who are ready to make the next move to clear resource hurdles, break through growth barriers, and sustain a competitive edge. Are you? Learn more about the voucher and see if you qualify!
Click the link below to learn more about the voucher and see if you qualify!