The state of Maryland has announced fiscal 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, which will cover 50 percent of project costs ― with a minimum grant of $25,000 and a maximum grant of $500,000 ― is being administered by the Maryland Department of Commerce, will provide businesses with $1 million to modernize their operations.
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 program was awarded earlier this year to 23 local businesses. Examples of qualified projects and investments included the purchase of 3-D scanners and printers, a robotic painting system, and an automated canning system for quality control.
Applications for the program will close on Wednesday, Oct. 18. To learn more, visit commerce.maryland.gov/m4grant.