Financing
Services: Incentive and Financial Resource Programs
Contact: Jack Dye, Assistant Director- Vice President
Address: 150 N Wacker Dr 2240, Chicago, IL 60606
Phone: 800.333.2148
Email: info@appliedstrategiesintl.com
Description:Import-impacted manufacturers can receive matching funds for projects that strengthen operations and sharpen competitiveness through Trade Adjustment Assistance for Firms (TAA).
The U.S. Department of Commerce funds a network of eleven regional, non-profit organizations that manage the TAA, which are called Trade Adjustment Assistance Centers (TAAC). They have worked with thousands of manufacturers since the program's inception in 1974.
The TAAC's primary role is to be an advocate for interested firms. They simplify a firm's participation in the program by preparing the application and guiding a firm through each phase of the program. They are also available for presentations to trade associations, economic development groups, consulting firms, banks and other groups that work closely with manufacturers, for the purpose of having these groups better understand this unique federal assistance program.
Program Benefits
TAA offers 50/50 cost sharing of projects aimed at improving a manufacturer's competitive position. Specifically, these matching funds are applied toward the cost of consultants, engineers, designers or industry experts for improvement projects in areas such as manufacturing, engineering, marketing, information technology and quality. TAA pays for half of the cost of these services, up to $150,000 in projects with a maximum TAA share of $75,000. Actual levels of assistance depend on a variety of factors.
Participating companies pay only 50% of a project, but enjoy 100% of the results. With TAA, firms can expedite important improvement strategies that would otherwise be delayed due to financial constraints, thereby allowing faster realization of bottom line benefits from those projects.
Use TAA for certain improvement projects, freeing company resources for other expenses not covered by this federal program, such as equipment purchases.
This is NOT a “reimbursement” program. A firm is responsible for only half of the project costs, while TAA pays the consultant the remainder.
Referral Benefits
Whether you are a trade association, bank, economic development group, consulting firm or any other organization referring manufacturers to this federal program, TAA offers you an opportunity to…
Be a valuable resource
Pointing your members/clients in the direction of proven, substantive TAA assistance is another chance to reinforce and enhance your image as an excellent resource provider.
Meet new clients/members
Working with the nationwide network of Trade Adjustment Assistance Centers (TAACs) that administer this program could potentially give you coast-to-coast exposure to new clients/members in a wide variety of industries.
Support U.S. manufacturing
In a recent independent study of TAA conducted by the renowned Urban Institute, the program was found to be highly effective with dramatic and measurable results in sales and job growth. Participating firms grew sales by an average of 33.9%, a rate significantly higher than corresponding industry averages. By referring companies to this proven federal assistance program, your organization contributes to the positive effect TAA has on the manufacturing community, local economy and beyond.
Trade Assistance for Manufacturing Firms serves the Northland, Arrowhead, Duluth MN Superior WI MSA, Aitkin, Carlton, Cook, Douglas, Itasca, Koochiching, Lake, and St. Louis county areas.
