State awards $20M in Manufacturing 4.0 Workforce Innovation grants to 46 companies
BPC Staff Mar 3, 2022 | 9:28 pm
1 min read time202 wordsAll Latest News, Economic Development, Manufacturing & Logistics, Tech & Innovation
Gov. Kim Reynolds and the Iowa Economic Development Authority announced today that $20 million in Manufacturing 4.0 Workforce Innovation grants has been awarded to 46 companies in Iowa. The grants are geared toward Iowa manufacturers with 76 to 250 employees investing in Industry 4.0 technologies to address workforce issues exacerbated by the pandemic. Recipients received up to $500,000 in grant funding; a minimum match of 25% was required. An additional $1.9 million in Technology Investment grants was awarded to 37 companies with three to 75 employees for projects that encompass the adoption and integration of smart technologies. These smaller companies received grants of up to $75,000; a 100% match was required. Reynolds originally appropriated $30 million in federal American Rescue Plan Act funds for these grant programs in October 2021. Iowa’s Manufacturing 4.0 plan, a road map to help Iowa manufacturers remain globally competitive through a fourth industrial revolution that emphasizes automation and smart technology, was launched in February 2021. A full list of the Manufacturing 4.0 Workforce Innovation grant recipients can be found at this link. A list of the Technology Investment grant recipients can be found at this link. To read a related Business Record article about the grant programs, click here.