Description
• $25 million program administered by Connecticut DECD offering grants between $500,000 to $5,000,000
• Targeted at supply chain companies in CT's core industries: Manufacturing, Semiconductors, Insurtech/Fintech, Biomedical/Life Sciences, Clean Energy, and IT
• Key requirements:
- Minimum 50% funding match required (10% for distressed municipalities)
- Must commit to retaining existing workforce
- Collateral required
- Evidence of matching funds must be provided
• Eligible uses of funds:
- Machinery & equipment purchases
- Robotics and new technology implementation
- Infrastructure improvements
- Product/process innovation
- R&D activities
- Establishing new operations
• NOT eligible for:
- Routine maintenance
- Existing work/contracts
- Debt restructuring
- Loan payments
- Working capital
- Workforce training
• Primary goal is to increase production capacity to win new business, with secondary goals of accelerating onshoring and attracting out-of-state/international operations
Attached files
The solicitation documents live at the source — open the bid source above to download them.