MM 088 - Who Wants Grant Money for Manufacturing Marketing?

     

    This week we learn about a government program that offers matching funds for marketing initiatives. Who’s interested in some federal grant matching funds? Did you know there is a federal program called Trade Adjustment Assistance for Firms (TAAF) that will match up to your $75,000 investment in certain initiatives including; production, information systems, management, quality and, of course, my favorite initiative, marketing.

    Guests: Tania Bahr-Torline & Amy Graziano, Program Managers at RMTAAC
    RMTAAC Website: www.rmtaac.org
    TAAF Website: www.taacenters.org
    Phone number: 303-499-8222

    Highlights:

    • [3:30] TAAF is designed to help small and medium size manufacturers affected by foreign competition.
    • [4:50] Amy shares the 5 criteria that a manufacturer must fulfill to be eligible for the matching funds.
    • [6:30] Tania talks about how the grant funds can be used my manufacturers.
    • [7:40] There is an approval process for consultants, but for the most part, the manufacturer chooses the consultant they want to work with.
    • [9:30] Learn how much your firm can get. Maximum benefit is $75,000 and usually the funds are spread out over multiple years.
    • [11:00] Listen to two great success stories where manufacturers who were facing stiff foreign competition and, with TAAF funds, were able to turn around their businesses.

    Interview Questions:

    Question 1: Tania, let’s start off with you, would you please give us an overview of the larger federal program, TAAF, and then how the regional offices fit in under that?

    Question 2: Amy, let’s talk specifics, how does a manufacturer qualify for the matching funds? Tania, what can the funds be used for?

    Question 3: Amy, who does the work? Does RMTAAC have specialists on staff or does the manufacturer go out and find a consultant?

    Question 4: Tania, I’m sure everyone is wondering, how much assistance can a firm expect to receive?  How often can a manufacturer take advantage of the program?

    Question 5: I’d love to hear from each of you on this one, what is your favorite success story? Amy, let’s start with you. Tania do you have a favorite success story?

    Amy's Takeaway: If you're interested in this program, don't rule yourself out. Let TAAF help you determine if you're eligible.

    Tania's Takeaway: There is another very important component of the program is a business planning phase. A lot of companies feel that planning process is as valuable, maybe more, than the money itself.

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