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(HARTFORD, CT) – Governor Ned Lamont today announced that the Connecticut Manufacturing Innovation Fund Advisory Board has voted to approve the release of $8.3 million in funding to support a series of technology and workforce initiatives designed to strengthen the long-term competitiveness Connecticut’s manufacturing sector, including several new programs.
The funding was approved through the state’s Manufacturing Innovation Fund, which received $20 million over the biennium in the budget signed into law by the governor this summer.
“Connecticut continues to make smart investments in its economic future,” Governor Lamont said. “We know the critical role manufacturing plays in our economy when it comes to jobs, exports, innovation, and productivity. These new programs demonstrate the comprehensive approach we are taking to ensure our manufacturing base is positions for success over the long-term.”
The new initiatives, which will receive a total of $3.7 million, include:
The Manufacturing Innovation Fund Advisory Board also approved investments in ongoing programs that provide valuable support to Connecticut manufacturers, most notably the Incumbent Worker Training Program ($1.5 million), Apprenticeship Program ($1.0 million) and Manufacturing Voucher Program ($2.1 million).
“I have met with scores of manufacturers throughout the state in the past two years and their feedback has been critical in shaping and prioritizing these programs and investments,” Colin Cooper, Connecticut’s Chief Manufacturing Officer and Chairman of the Manufacturing Innovation Fund Advisory Board, said. “The Manufacturing Innovation Fund strives to use state funds as catalyst capital to spur investments in equipment, workers, innovation and technology that otherwise might not be made. Through the end of fiscal year 2020, $57.4 million of this funding has been matched with $99.5 million of private and third-party capital.”
The State of Connecticut established the Manufacturing Innovation Fund to support the growth, innovation, and progress of Connecticut’s advanced manufacturing sector. It provides financial support for a broad range of initiatives that ensure Connecticut’s manufacturers remain leaders in productivity, efficiency, and innovation. It is administered by the Department of Economic and Community Development with the advice and counsel of an advisory board comprised of manufacturing business leaders.
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Governor Lamont Announces Funding for New Initiatives Strengthening Connecticut's Manufacturing Sector – CT.gov