Governor Moore Announces Second Round of Funding for Maryland Manufacturing 4.0 Program
BALTIMORE, MD (August 7, 2023) — Governor Wes Moore today announced the fiscal year 2024 funding to support the Maryland Manufacturing 4.0 program, a growing initiative that provides grants to small and mid-sized Maryland manufacturers to invest in Industry 4.0 technologies. The new round of funding, administered by the Maryland Department of Commerce, will provide businesses with a total of $1 million to modernize their operations.
“Opportunities like the Maryland Manufacturing 4.0 grant program help to not only position our small and mid-sized businesses for advancement, but also ensure Maryland remains competitive in leveraging innovative technology,” said Gov. Moore. “Actively investing in our state’s companies will help strengthen Maryland’s manufacturing industry and unleash its potential for growth and success.”
Similar to smart manufacturing, which emphasizes the role of new technology in manufacturing, Industry 4.0 represents the fourth industrial revolution, focusing on the digitization and automation of manufacturing facilities to help companies remain competitive and drive business growth. Anticipated outcomes include increased productivity and sales, cost savings, retention and skills training of employees, and more.
The first round of funding for the Maryland Manufacturing 4.0 program was awarded earlier this year to 23 local businesses. Examples of qualified projects and investments included the purchase of 3D scanners and printers, a robotic painting system, and an automated canning system for quality control. For round two, awarded grants will cover 50 percent of project costs, with a minimum grant of $25,000 and a maximum grant of $500,000.
“We are pleased to continue building upon the success of the Manufacturing 4.0 grant program. Every corner of our state plays a crucial role in propelling the manufacturing industry forward,” said Maryland Department of Commerce Secretary Kevin Anderson. “Through providing the proper foundation for Maryland manufacturing, we can build an even brighter economic future for our state.”
Applications for the program are now being accepted and will close on Wednesday, October 18. To learn more and to apply, visit commerce.maryland.gov/m4grant.
About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the arts, film production, sports and other special events. For more information, visit commerce.maryland.gov.