Grant assists manufacturers hurt by import competition

A federal grant is available to assist manufacturers across the Quad Cities and the nation, who have been adversely impacted by imports, improve their business competitiveness.

The Trade Adjustment Assistance for Firms (TAAF) is a matched-funds program for firms that have experienced at least 5% decline in sales and employment due to imports. Industries that were devastated by the COVID-19 pandemic may also be eligible.  

The program offers up to 50/50 cost sharing of projects aimed at improving a firm's competitive position. TAAF has a maximum of five years to cost-share up to $75,000 with a client. To qualify, a firm must have lost some domestic business to imports. Eligible firms are U.S. manufacturers who have been in business at least two years and derive at least 50% of their revenues from manufacturing.

The grant funding can be used to improve the firm’s internal operations and competitive abilities and can be applied toward the cost of hiring consultants, engineers and other outside professional service providers. Eligible projects range from marketing, engineering and production; to marketing and sales; financial and general management; and IT support systems.

The grants cannot fund hard assets such as equipment or material, payroll expenses, real estate, advertising or other regular costs of doing business. The projects must be completed by an outside vendor of the firm’s choice.

• In Iowa, more than 40 businesses are involved currently in the program including eight in the Quad Cities. The program has about $1 million available in matched-grant funds for Iowa businesses between now and Sept. 30.
• In Illinois, MTAAC has invested more than $2 million into Illinois companies through TAAF in the past few years. 

To apply or learn more about eligibility, contact:  

• Iowa -- Mark Allen can be reached at 816.666.9406 or [email protected]. For more information, visit taacenter.org. 
• Illinois -- Jack Dye can be reached at 312.368.4600 or [email protected].   For more information, visit appliedstrategiesintl.com.

TAAF is sponsored by the U.S. Department of Commerce Economic Development Administration (EDA) and administered by TAAF partners including Mid-America Trade Adjustment Assistance Center (MATAA) and Midwest Trade Adjustment Assistance Center (MTAAC), serving Iowa and Illinois, respectively.