As a manufacturer in California’s network, you don’t have to go it alone. Federal funding is available to sponsor or aid in your company’s development. It may take a bit of seeking out to find just the right program to serve your needs, so our resource feature for the month aims to aggregate some helpful starting points.
Here are a few funding opportunities to get you started.
$24 B of Funding for 6 Manufacturing Categories
In the fiscal year 2020, federal-level funding for manufacturing contracts in the State of California ranked second in the nation at $24 billion. CMTC recently detailed this in Episode 1 of their Shifting Gears podcast, in which they discussed the qualifications needed to apply for various funding programs, how to get a proposal written, and what to prioritize on your application. Lakeview Consulting President and podcast host Micki Vandeloo describes the 6 main categories for funding:
- Research and Development + Commercialization (Small Business Innovation Research/Small Business Technology Transfer/STTR funding)
- Facilities and capital expansion
- Employee training
- Recycling
- Exporting
- Tech Programming
Check out the podcast for a full-fledged explanation about what each of these categories entails. Funding is available for anyone looking in the right places.
Calling For Speciality Food Producers
If you’re a specialized niche crop producer, find out if you’re eligible to receive financial assistance through the USDA’s Food Safety Certification for Speciality Crops Program (FSCSCP). Covered expenses can include developing, maintaining or updating your company’s food safety plan, earning a food safety certification and certification upload fees, microbio testing, and training expenses.
The application period to receive funding for any of the above-named items goes from now until January 31, 2023. Learn more about submitting your application.
The Transition to Sustainable Manufacturing
Energy efficiencies in facilities and equipment impact the environment, and work to bring down our carbon footprint. CalSEED looks to fund energy innovators in 21 of California’s counties, and is taking applications until January 2023. They want to fund early-stage developers working on Technology Readiness Levels (TRL) that match the DOE defined TLR scale. Given the correct match, you could receive $150,000-$450,000 of grant funding.
The List Goes On
Finding the right funding for your company takes a little bit of work, but launch points don’t end here. Tax credits and exemptions are another avenue to investigate, such as the Sales and Use Tax Exclusion Program (STE) that accepts ongoing applications.
If you’re looking to get specialized consulting to find the right funding program for your company, don’t hesitate to reach out to GMI. We exist to help you grow through partnership. Learn more about possible business opportunities through your GMI membership network.
