Up to $75k in funding to help Ohio manufacturers compete against imports
Import competition continues to hurt manufacturers’ sales. Fortunately, the federal Trade Adjustment Assistance for Firms program (TAAF) continues to help with planning assistance and money for projects to help them regain their competitive edge. For Ohio manufacturers, the TAAF program is managed by the Great Lakes Trade Adjustment Assistance Center (GLTAAC).
GLTAAC helps manufacturers invest in themselves by providing up to $75,000 of matching funds for projects to improve their competitiveness. We first work with qualified manufacturers to develop a recovery plan, and then bring that plan to life with 50% matching funds for critical projects.
GLTAAC works with manufacturers in all industries and co-funds a variety of projects. Here are some examples of how the TAAF program assists our clients in the Dayton region:
TAAF matching funds help foundry with ERP upgrade - This Ohio GLTAAC client knew that their 20+ year-old ERP system was holding them back in today’s market. So, the aluminum foundry decided to use TAAF matching funds to implement a complete ERP upgrade. Working with a consultant who has an understanding of their industry and specific needs, the multi-stage effort is now nearing completion. The company is already seeing value from better real-time outputs, increased functionality, and the improved usability of the new system. Final cost for the three-stage effort will be $102K (with TAAF paying 50%).
Ohio aerospace supplier works with GLTAAC to create TAAF recovery plan - When foreign imports hurt their sales, this Ohio metal parts manufacturer turned to the TAAF program for help. After completing the initial TAAF qualification phase, the firm is now working with GLTAAC to complete the TAAF planning phase. The plan looks at the firm’s opportunities and also outlines how the manufacturer will use their $75K in TAAF matching funds. The manufacturer is looking to spend TAAF funds to help with training for leadership skills, lean manufacturing, and to broaden their quality capabilities. The plan will also address ERP implementation, as well as sales assistance for lead generation.
How could TAAF matching funds help your company? If import competition has hurt your sales, don’t put off learning more about TAAF and GLTAAC. Here’s how to get started: