Gov. Larry Hogan announced the launch of the Maryland Manufacturing 4.0 grant program, a new Maryland Department of Commerce initiative that provides grants to small and mid-sized Maryland manufacturers to invest in Industry 4.0 technologies to modernize their operations.
This pilot program is funded by $1 million in the fiscal year 2023 budget, which focuses on continuing the state’s strong economic recovery. Similar to smart manufacturing, Industry 4.0 represents the fourth industrial revolution. It focuses on the digitization and automation of manufacturing facilities to help companies remain competitive and drive business growth.
Examples of qualified projects and investments include the adoption of additive manufacturing; installing new robotic or automated equipment to modernize production; implementing IoT technologies, such as shop floor data sensors, smart warehouse systems, or new quality control systems; investing in big data and analytic systems to study operations; and employee training costs associated with the implementation of new technologies. Awarded grants will cover 50% of project costs, with a minimum grant of $15,000 and a maximum grant of $50,000.
Anticipated outcomes from investing in Industry 4.0 technologies could include increased productivity and sales, cost savings, retention of employees, and more. To learn more and apply for the program, visit www.commerce.maryland.gov/m4grant.