HTDC NEWS RELEASE: HTDC Awards Nearly $2 Million in Grants to Hawaii ManufacturersPosted on Aug 25, 2016 in Latest News
Money disbursed as part of the Manufacturing Assistance Program
HONOLULU – Fifty-one Hawaii companies will soon be able to streamline, improve, and optimize operations thanks to funding from the High Technology Development Corporation (HTDC) through Innovate Hawaii’s Manufacturing Assistance Program (MAP). The program awarded $1.9 million to local companies to help with specific expenses related to manufacturing to foster economic and/or employment growth in the state.
The majority of the funds, $1.7 million, were awarded for equipment purchases, while the balance will support energy efficiency measures, employee training, and feasibility studies to help improve manufacturing facilities.
The MAP grants cover up to 20 percent of the total company investment in the project, capped at $100,000. The companies themselves must fund the balance. The total investment in these 51 projects by the awardees amounts to more than $31 million.
“HTDC Innovate Hawaii’s MAP grants are an important way for the state to encourage and promote more efficient manufacturing processes among our local firms,” said Luis P. Salaveria, director of the Department of Business, Economic Development and Tourism, which oversees HTDC and promotes Hawaii’s innovation economy. “These companies have a pronounced effect on manufacturing in the islands, and play a pivotal role in strengthening our economy.”
“We were impressed by the quality of this year’s grant applications,” said Robbie Melton, executive director and CEO of HTDC. “The grants will allow these companies to improve their operations, create more jobs, and further diversify our economic base. HTDC Innovate Hawaii is proud to be able to work with these companies in developing our manufacturing sector.”
Twenty-nine grants were awarded to Oahu companies, while Maui, Hawaii Island and Kauai received 7, 6, and 9 grants respectively. Funding for the grants is projected to create about 360 new jobs, with nearly one-fifth paying an average of $80,000 annually.
“We’re thrilled to have been awarded a MAP grant for a project to upgrade our equipment,” said Dylan Butterbaugh, owner of Manoa Chocolate Hawaii. “As a local company dedicated to growing the agriculture and manufacturing industry in our state, this grant will help us grow and improve our business. We’re grateful to Innovate Hawaii for their assistance in bolstering our production capabilities.”
MAP grants are available to companies across the state and applications are currently being accepted for fiscal year 2017. For more information and to apply, go to www.htdc.org/mapgrant.
HTDC’s Innovate Hawaii is a federal program of the Department of Commerce’s National Institute of Standards and Technology Manufacturing Extension Partnership (NIST MEP). The program aids U.S. manufacturers in becoming more competitive in the global market through business assistance, grant matching programs, and expert consulting services.
About HTDC (High Technology Development Corporation)
HTDC is a state agency, attached to the state Department of Business, Economic Development and Tourism (DBEDT). HTDC’s mission is facilitate the development and growth of Hawaii’s high technology industry. HTDC is providing the capital, building the infrastructure and developing the talent to foster innovation and diversify Hawaii’s economy. HTDC 80/80 Initiative is to create 80,000 new tech and innovation jobs that will provide high paying jobs for Hawaii residents.
ABOUT DBEDT (Department of Business, Economic Development and Tourism)
DBEDT is Hawaii’s resource center for economic and statistical data, business development opportunities, energy and conservation information, and foreign trade advantages. DBEDT’s mission is to achieve a Hawaii economy that embraces innovation and is globally competitive, dynamic and productive, providing opportunities for all Hawaii’s citizens. Through its attached agencies, the department fosters planned community development, creates affordable workforce housing units in high-quality living environments, and promotes innovation sector job growth.
# # #