The Indiana Economic Development Corporation (IEDC), in partnership with Conexus Indiana, announced Thursday that 186 Manufacturing Readiness Grants totaling $22.7 million were awarded in 2022, supporting $352.7 million in technology-enabled capital investment among manufacturers. The innovative program, structured to allow Indiana-based manufacturers to increase production efficiency, invested in 60 counties across Indiana in 2022.
Six Readiness Grants were awarded to manufacturers in Marshall County.
- Ameri-Can Engineering manufactures portable sanitation trailers in Argos. In order to meet increased demand due to COVID-19, this third-generation, the family-managed company is modernizing equipment and processes to improve production efficiencies.
- BBS Enterprise dba Complexus Medical is a contract manufacturer for the orthopedic industry that provides CNC machining, welding, assembly, and finishing services of complex, multi-piece surgical instruments. They plan to invest in robot-tended CNC machining to allow unattended operations on nights and weekends.
- Culver Tool and Engineering (CTE Solutions) founded in 1950 and located in Plymouth, manufactures orthopedic implants and instruments for spinal surgeries. CTE also provides custom implants and instruments, including prototypes, for all segments of the orthopedic industry. The company is updating its forming and deburring processes with custom-built equipment, while upskilling employees.
- ITAMCO Co. is a gearing and precision machining manufacturer for heavy-duty industries, including mining, off-highway vehicles, marine, wastewater, construction, and aviation. The company is investing in automation and robotics to augment both the pre- and post-heart treat steps in its manufacturing process.
- ProTec Panel & Truss Manufacturing LLC is a manufacturer of engineered wooden roof trusses, floor trusses, and wall panels for residential, agricultural, multi-family and commercial projects. The company is investing in automated equipment to achieve capabilities necessary to enter new commercial markets for floor trusses and wall panels.
- Sequel Wire and Cable LLC is a startup company and manufacturer of copper fabricated and insulated wire and cable products for use in a variety of markets including OEM, wire and cable distribution, appliance, automotive, and RVs. The company is implementing automated data collection on production machines across its facility.
Launched in 2020, the Manufacturing Readiness Grants program was created to stimulate private sector investments to modernize Indiana’s manufacturing industry. Since then, a total of 384 awards totaling $39 million have been awarded to companies in 69 counties, prompting proposed projects with combined budgets of $484 million.
“Indiana’s rich manufacturing history paired with these new investments will ensure that Indiana continues to lead as the world transitions into Industry 4.0,” said Indiana Secretary of Commerce Brad Chambers. The Manufacturing Readiness Grants program is propelling Indiana’s innovative economy with strong returns on each dollar spent and is creating high-quality career opportunities throughout the state.”
In the 2022 Manufacturing Readiness Grants Impact Report, Conexus Indiana and the Purdue University Dauch Center for the Management of Manufacturing Enterprises provided an in-depth look into the impacts achieved via grant recipients through June 30, 2022. Key findings from the impact report, in addition to a revenue impact survey conducted in collaboration with the IEDC, include:
- Companies that adopted a smart manufacturing technology on average added five new positions; they also anticipated payroll to grow on average $196,000 per project.
- The average revenue impact to companies was $2.5 million, with 37% of those companies reporting that they anticipated revenue growth of more than 10%.
- The capital investment coupled with projected increases in both revenue and wages equate to a significant internal rate of return for the state’s investment in the Manufacturing Readiness Grants program.
“Conexus Indiana data show that the percentage of companies budgeting for Industry 4.0 technology, such as advanced robotics, cobots, machine vision and additive manufacturing, has doubled from 2020 to 2022,” said Mitch Landess, vice president of innovation and digital transformation at Conexus Indiana. “Manufacturing Readiness Grants have served as a catalyst to accelerate digital adoption projects for hundreds of companies, and recent findings support that this is leading to significant economic growth.”
Manufacturing Readiness Grants award recipients through December 31, 2022, can be found on the Conexus Indiana website.