Connecticut officials last week announced the launch of a new $25 million program that aims to bolster the state's supply chain providers.
The Strategic Supply Chain Initiative, administered by the state's Department of Economic and Community Development, would enable supply chain companies in Connecticut's "core industries" to expand their capacities and operations, as well as make overtures to companies currently located out of state.
Companies seeking to increase their capacity would be able to apply for grants of between $500,000 and $5 million. They would be required to match at least 50% of the award — or at least 10% in select distressed municipalities. Companies in manufacturing, semiconductors, life sciences and other high-tech industries would receive "priority consideration."
Connecticut officials said the program is intended to fortify supply chains at "a time of change and uncertainty" for the nation's trade policies.
“The support from this initiative will bolster Connecticut’s core industries – including high-tech manufacturing, renewable energy, information technology and other key growth sectors – and take practical steps to strengthen these sectors and grow good-paying jobs here in our state,” Gov. Ned Lamont said in the announcement.
