Philly manufacturers are getting a financial shot in the arm with a new grant program introduced by the city’s Department of Commerce. The PHL Made Grant aims to fuel the growth of the local manufacturing sector and spur innovation. Eligible city-based manufacturing companies can start applying now for a piece of the funding pie, as posted on the official announcement.
The clock is ticking for interested parties, with the application deadline pegged for May 4, at 11:59 p.m. Defined broadly, the manufacturing industry within this initiative includes, but is not limited to producers of consumer and industrial goods, and medical devices. Companies can apply for up to $30,000 in matching grants, provided they have the cash to match the grant amount requested.
In terms of who can throw their hat in the ring, the conditions are clear: companies must be up and running in Philadelphia for at least a year and be in the business of producing goods. There's also an opportunity for previous winners of the PHL Made Grant — so long as they haven't bagged over $10,000 from it in the past three years, they're welcome to apply again.
Preference will be given to applicants with a solid action plan for the grant money, particularly for projects that could boost business operations, increase efficiency, or launch new products. Job creation is also on the agenda, with a nudge towards Philly-based hires. To toss their name into the hat, companies must come prepared with a comprehensive business plan, a rundown of their products and services, and a detailed proposal on how they'll use the funds. They also need to provide a list of top brass in the company, highlighting their experience.
