(The Center Square) – Maryland is launching a new manufacturing grant pilot program designed to help small businesses.
The Maryland Manufacturing 4.0 grant program, Gov. Larry Hogan said, is a new initiative funded by $1 million in the fiscal year 2023 budget to provide grants to small- and mid-sized businesses in the state to invest in new technology.
The program, according to the release, will be administered by the state’s Department of Commerce.
“Manufacturing and innovation have played a critical role in our incredible economic turnaround,” Hogan said in a release. “We are excited to launch the new Maryland Manufacturing 4.0 program as another tool to help our manufacturers stay competitive in a rapidly changing environment and to revolutionize how they do business.”
The program, according to the release, will focus on aiding companies to remain competitive while advancing digitization and automating facilities.
Grants would be focused on installing new robotic or automated equipment, using IoT technologies, including floor data sensors and smart warehouse systems. Other applications for the grants include new quality control systems, investing in data and analytics, and employee training, the release said.
The grants, according to the release, would cover half of the project costs, and a minimum grant awarded will be $15,000. The maximum grant award is $50,000.
“With thousands of manufacturers in Maryland, we are continuously looking for new and innovative ways to support our businesses across the state,” Maryland Department of Commerce Secretary Mike Gill said in a release. “This program has the potential to help dozens of companies modernize operations and further grow their presence in the state’s advanced manufacturing sector.”