More than $2.8 million has been awarded to 34 companies across the state in the fourth round of Indiana’s Manufacturing Readiness Grant program, the state announced Thursday morning.
Recipients in the latest round of grants stretch across 22 counties from northeastern to southern Indiana. Four manufacturers in the Indianapolis area were chosen to receive a combined $571,500 in this round.
The companies cover a range of specialties, including aerospace and defense, automotive, custom electronics and medical devices.
Manufacturing Readiness Grants were launched last year as a pilot program in a partnership between the Indiana Economic Development Corp. and Conexus Indiana to stimulate state private sector investments in modernizing Indiana’s manufacturing sector. The state Legislature moved to extend the program through 2023 by adding $20 million for grants to the state budget this year.
A total of 122 awards have been given out to date totaling nearly $9.7 million to companies in 50 counties. The recipients are expected to make technology-based capital investments projected at more than $68.6 million.
The following companies in the Indianapolis area were awarded grants for various technology projects in the latest round:
— Addman Engineering, Hamilton County, $150,000: The Westfield-based manufacturer plans to use the funds on the purchase of a Velo3D Sapphire laser powder bed fusion additive manufacturing machine for production parts.
— Diver’s Supply Co. Inc. (Ikelite Underwater Systems), Marion County, $50,000: The family-owned, Indianapolis-based manufacturer of underwater photographic equipment is using the grant to acquire advanced equipment for process development.
— Fatheadz Inc., Marion County, $200,000: The Indianapolis-based manufacturer of sun and optical frames is investing in injection molding and specialty machines to bring lens production back to the U.S. from an overseas location.
— Tech Castings LLC, Hancock County, $171,500 grant: The Shirley-based supplier of vacuum and air melt superalloy investment castings will use grant money to implement robotics to increase capacity and quality while alleviating employees from lifting heavy items.