SBANE, Mass Development announce $330K in defense grants

FALL RIVER – The Smaller Business Association of New England and Mass Development are introducing a “Defense Diversification Program,” which they said is an opportunity for defense-dependent businesses to diversify product lines and manufacturing processes.

The matching grant program, funded with $330,000 from the Office of Economic Adjustment within the Department of Defense, will connect businesses with private consultants. Grants up to $10,000 per company will be given.
To be eligible for the program, a business must be a prime defense contractor or subcontractor, deriving a minimum of 10 percent of sales from the Department of Defense (including STTR and SBIR projects), and can show how defense budget reductions or impending budget restrictions will affect operations.
A company also will need to provide documentation of a historical loss of at least 5 percent in sales (over the last 12 to 24 months) attributed to a defense sector cut or contract cancellation. Proof of the cancelled contract also will need to be provided to SBANE’s screening committee.

SBANE will host an informational session about the grant program on March 15 at the Center for Innovation & Entrepreneurship at 151 Martine St., Fall River. Participants include Raytheon, Mass Development, Massachusetts Manufacturing Extension Partnership and sponsor Nelson Mullins Riley & Scarborough LLP.
Registration begins at 11:30 a.m. with the program to follow at noon. Cost is $25 for members and $40 for non-members.
Registration is available HERE.

For information, contact Alan Eisner at (617) 320-3122 or alanseisner@hotmail.com.

- Advertisement -

No posts to display