Did you know that manufacturers in our area may be eligible for up to $75,000 in federal cost-share funding? Distressed firms that have experienced declines in both employment and sales, as a direct result of import competition, are eligible to apply for certification and assistance through the Trade Adjustment Assistance for Firms (TAAF) program.
The Southeastern Trade Adjustment Assistance Center (SETAAC) serves North Carolina and is one of 11 nationally operated centers responsible for the administration of the TAAF program. Over $500,000 of Federal cost-share funds is available each year to help U.S. manufacturers in the Southeast that have been hurt by import competition, including North Carolina; funding is provided to SETAAC by the U.S. Economic Development Administration under the Department of Commerce.
SETAAC is currently looking for manufacturers in North Carolina that would be interested in up to $75,000 of federal funding to help them improve their competitive position. Qualifying firms receive financial assistance through a cost-sharing model that helps U.S. firms develop and implement business recovery strategies to strengthen their competitive position in the global marketplace. Financial assistance is available for strategic projects such as marketing consulting, web site development, lead generation, sales literature, product development, process improvement, lean manufacturing, employee training, ERP installation, strategic planning and export assistance, to name a few.
For more information about the TAAF program, please contact SETAAC’s business development officer, Tracy Cole, at 770-531-4550 or via e-mail at firstname.lastname@example.org. More detailed program information may be found at www.setaac.org.