Submitted by Carey Schoenig, GLTAAC
Get Funding for Projects to Help Beat Import Competition
Manufacturers that are directly affected by import competition may qualify for help from the Trade Adjustment Assistance for Firms program (TAAF). This federal program, offering up to $75,000 in matching funds, is specifically designed to help smaller firms recover and improve their global competitiveness.
For Ohio manufacturers, the TAAF program is managed by the Great Lakes Trade Adjustment Assistance Center (GLTAAC). Through the program, GLTAAC helps qualified import-injured companies identify, develop, staff, and pay for critical business improvement projects.
Here are some examples of projects TAAF has co-funded for manufacturers in the Dayton region:
Machine Builder begins TAAF with Marketing Projects to Support Diversification - Even in today’s challenging environment, this machine builder was looking to diversify beyond the automotive market. When their TAAF funding was approved, they started with projects designed to help them do just that. They began working with consultants on 2 different projects to increase awareness of their capabilities in the medical device market. The two projects - a comprehensive website re-design and a digital/social media campaign - had a total price tag of $54K (TAAF paid half).
Product Development effort expands market for Ohio foundry - This GLTAAC client saw the potential to expand their product offerings, but needed outside engineering help. After selecting a consultant, the manufacturer began a 12-month project which resulted in the development of a new product to help the foundry secure additional business. The consultant also provided ongoing training for employees. TAAF funding paid half of the $25K project cost.
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.