(HARTFORD, CT) – Governor Ned Lamont and the Connecticut Department of Economic and Community Development (DECD) Commissioner Daniel O’Keefe today announced the launch of a $25 million state grant program to help supply chain companies in Connecticut’s core industries expand and increase production capacity and encourage the establishment of new operations in the state.
Administered by DECD, the Strategic Supply Chain Initiative will also be used to attract supply chain operations from other states and internationally.
“The support from this initiative will bolster Connecticut’s core industries – including high-tech manufacturing, renewable energy, information technology, and other key growth sectors – and take practical steps to strengthen these sectors and grow good-paying jobs here in our state,” Governor Lamont said.
“This is a time of change and uncertainty for businesses that could be impacted by the incoming administration’s new trade policies,” Commissioner O’Keefe said. “This program aims to fortify supply chains in sectors vital to our state’s economic future, to ensure they are fully capitalizing on growth and onshoring opportunities in the near term. Strengthening our economic pillars in this way will grow jobs and further improve our industries’ competitiveness in the national and international marketplaces. The program is also a powerful recruitment tool to attract new companies and capital investment to our state.”
Supply chain companies can apply for grants ranging from $500,000 to $5,000,000 for projects that will increase their production capacity. Eligible uses of funds include:
- Purchasing machinery and equipment
- Addition of robotics and new technology to boost productivity
- Making infrastructure improvements
- Investing in product and process innovation
- Enhancing R&D activities
- Establishing new operations in support of Connecticut’s core industries
Companies selected to receive state funding will be required to provide at least a 50% match unless they are in distressed municipalities, where a minimum 10% match is required.
Priority consideration will be given to supply chain companies in Connecticut’s core industries including, but not limited to, manufacturing, semiconductors, insurtech and fintech, biomedical instruments and life sciences, clean energy, and information technology, including artificial intelligence and quantum computing.
To learn more about the Strategic Supply Chain Initiative, click here.