Submitted by Great Lakes TAAC
Have your sales been hit by import competition? If so, the federal Trade Adjustment Assistance for Firms (TAAF) program may be able to help. For Ohio manufacturers, the program is managed by the Great Lakes Trade Adjustment Assistance Center (GLTAAC).
GLTAAC helps qualified manufacturers identify, develop, staff – and provides matching funds for –critical business improvement projects. Although TAAF matching funds are important, GLTAAC clients also value the planning assistance they receive from our team of manufacturing professionals.
Here are examples from the Dayton region of how a new and a graduating client each benefited from the TAAF program (and what they have to say):
“You get to see an objective view of your organization.” - This aluminum foundry was losing sales to imports. As a result, they were short on the cash they needed to strengthen internal capabilities. So, they turned to GLTAAC for assistance through the TAAF program. After working with GLTAAC to create a recovery plan, they were recently approved for $75,000 of TAAF matching funds. The company began implementing their plan right away with an ERP upgrade project – an effort that had been delayed due to lack of cash. After that, they’ll move on to use TAAF assistance for other projects to improve their global competitiveness.
“We now have better tools and products to compete.” – This GLTAAC client saw many changes in their market since beginning the TAAF program four years ago. During their time in the program, the electronics manufacturer used their $75,000 in TAAF matching funds to tackle projects such as worker training, strategic planning, market research and product development. Today, the firm states that they are more competitive than when they entered the program, and that their TAAF projects helped them to “…upgrade our products and marketing strategies.”
GLTAAC clients use their matching funds for a wide variety of projects to help their top and bottom lines. See a list of the projects we fund here.
If import competition has hurt your sales, don’t put off learning more about GLTAAC. Follow us on LinkedIn and check out our website (www.gltaac.org). Or, contact GLTAAC Project Manager, Jani Hatchett at email@example.com or 734.998.6227. Jani can quickly review the TAAF program with you and help you determine whether your firm would qualify for TAAF matching funds.