Zorn applauds grant to help cover new technologies – Michigan Senate Republicans
LANSING, Mich. — Sen. Dale Zorn on Wednesday applauded the Michigan Economic Development Corporation (MEDC) for approving a $22,500 grant to help cover the cost of new technologies for a local Monroe business.
Premier Industries is one of 24 small manufacturers in Michigan to have been awarded a total of $559,005 to help them adopt Industry 4.0 technologies.
“In an increasingly competitive global marketplace, it is critical that Michigan small manufacturers and businesses invest in new technologies,” said Zorn, R-Onsted. “This grant for Premier Industries and all the grants in the Industry 4.0 Technology Implementation Grant Program will help support these vital investments. By doing so, we can help protect thousands of good jobs in Monroe and our entire state.”
In September, 49 companies were awarded a total of $1.15 million in grants and 23 companies were awarded more than $500,000 in grants in July. In total, 95 companies have received $2.2 million through the program. The amount of increased revenue because of the awardees implementing these technologies is expected to be about $112 million, with an estimated 336 jobs created and 1,542 jobs retained. Additionally, these projects leverage $13.1 million in private investment from small manufacturers.
Grants are reimbursement-based and cover up to 50% of eligible technologies, including additive manufacturing, artificial intelligence, cybersecurity, robotics and automation, and more.
Grant applications will continue to be accepted on a rolling basis until all funds are allocated. To learn more about the requirements of the program and to view the grant application, visit: michiganbusiness.org/industry4-0/grant.
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