Manufacturers Can Access Funding for Projects to Help Beat Import Competition
Trade Adjustment Assistance for Firms (TAAF) Program Funding
The federal Trade Adjustment Assistance for Firms (TAAF) program continues to help Indiana manufacturers improve their competitiveness.
TAAF helps smaller manufacturers that are losing sales to imports. For Indiana companies, the program is managed by the Great Lakes Trade Adjustment Assistance Center (GLTAAC).
GLTAAC has 35 years of experience helping small manufacturers that have been hurt by imports improve their competitiveness. GLTAAC is part of the Economic Growth Institute at the University of Michigan. It manages the TAAF program for companies located in Indiana, Michigan and Ohio.
TAAF is the only federal program specifically designed to help companies that have been negatively impacted by imports. GLTAAC is funded by the Economic Development Administration of the U.S. Department of Commerce. Regional centers across the nation manage the program. The TAAF program helps qualified manufacturers invest in themselves by providing up to $75,000 in matching funds for key business improvement projects, and includes assessment and planning assistance to maximize project impact.
TAAF assists clients in projects to help both the top and bottom lines.
Here are some examples of projects TAAF has co-funded for GLTAAC’s Indiana clients:
- This Indiana mold maker recently completed a lead generation project, using an outside consultant with expertise in their industry. The effort was successful, producing quote requests, increasing awareness for the client, and expanding their geographic territory. The results were so impressive, that the GLTAAC client has chosen to continue using the consultant in a follow-on project, with TAAF funds paying for half the $23,000 cost.
- An outdated website just wasn't keeping pace with this Indiana furniture manufacturer's capabilities. As a new GLTAAC client, the firm chose to begin spending its TAAF co-funding on a project to revamp its site to reflect their quality products. The project is now complete, resulting in a website with refreshed images and updated content. Additionally, the site makes it easy for customers on all levels to contact the firm for quotes. TAAF funding picked up 50% of the cost for the new site. Learn more about the kinds of projects TAAF funds here.