Small Manufacturers Modernization Grant

Small Manufacturers Modernization Grant is sponsored by Empire State Development (New York State). This program provides funding to New York State small manufacturers for capital projects that enhance competitiveness or productivity through modernization and the integration of advanced technology. Photonics is explicitly listed as a targeted industry.

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Up to $10 million was set aside for small manufacturers through the New York Empire State Development (ESD) Small Manufacturer Modernization Program. This program supports small manufacturers in New York State by investing in capital projects to improve competitiveness and productivity and preserve jobs through modernization and advanced technology integration.

Small Manufacturer Modernization Program (up to $10 Million) Funding: Up to 20% of eligible project costs. Grant Range: $50,000 to $250,000. Eligibility: Small manufacturers (both for-profit and not-for-profit) operating in New York State for at least 10 years, with 5-99 full-time permanent employees.

Focus: Operational efficiencies, market competitiveness, and business sustainability in New York. Application deadline: July 31, 2024, at 4:00 PM. Purchasing land, buildings, machinery, and equipment.

Demolition and environmental remediation. New construction, renovation, or leasehold improvements. Acquisition of furniture and fixtures.

Other costs/expenditures deemed eligible by ESD. Applications must be submitted before a project commences or expenses are incurred. It is also recommended that applicants discuss the project with ESD regional offices to gauge local support before submitting applications.

Given the importance of these programs and the approaching deadlines, small manufacturers in New York are encouraged to determine their eligibility and interest in the program to ensure timely submissions.

For additional information regarding the New York Small Manufacturer Modernization grant opportunity and its impact on your business or other state business credits and incentives opportunities, contact your CBIZ State and Local Credits and Incentives professional. “CBIZ” is the brand name under which CBIZ CPAs P. C.

and CBIZ, Inc. and its subsidiaries, including CBIZ Advisors, LLC, provide professional services. CBIZ CPAs P. C.

and CBIZ, Inc. (and its subsidiaries) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. CBIZ CPAs P. C.

is a licensed independent CPA firm that provides attest services to its clients. CBIZ, Inc. and its subsidiary entities provide tax, advisory, and consulting services to their clients. CBIZ, Inc. and its subsidiary entities are not licensed CPA firms and, therefore, cannot provide attest services.

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