Poly Electronics LLC, an Elkhart designer, developer and manufacturer of custom electronics, has been selected as a recipient of a $40,000 1:1 match grant from the Indiana Economic Development Corporation in partnership with Conexus Indiana.
“Hoosier manufacturers are preparing now for the industries of tomorrow,” said Governor Eric J. Holcomb. “Through the Manufacturing Readiness Grants program, these forward-thinking companies are modernizing their operations to set themselves up for a successful future, creating high-skill, high-wage jobs for Hoosiers in all parts of the state and propelling the long-term growth of Indiana’s strong manufacturing sector.”
The 34 grant recipients in this round include companies from 22 Indiana counties and cover a wide range of specialties, including aerospace and defense, automotive, custom, electronics and medical devices.
“We are thrilled to be awarded this grant to improve processes and increase our capabilities,” says Matt Kain, Poly Electronics President and Partner. We take the stewardship of these funds very seriously. Not only is it an opportunity to move forward in our mission of expanding our capabilities for customers, but it also gives our workforce hands-on training with new technologies.”
With this grant, Poly Electronics plans to invest nearly $100,000 in state-of-the-art Automated Optical Inspection (AOI) equipment to scan microchip and component placement on surface-mounted technology (SMT) assembled printed circuit boards (PCB) to improve quality and reduce rework in the manufacturing process.
The Manufacturing Readiness Grants program was launched in 2020 to stimulate private sector investments to modernize Indiana’s manufacturing sector. Based on the program’s success, the Indiana General Assembly appropriated $20 million in additional funding to the two-year state budget that runs through June 30, 2023, to help position Hoosier operations for future growth and prosperity. Availability of the new funding on July 1, 2021, has enabled a total of 122 awards to date totaling nearly $9.7 million in grants to Hoosier companies in 50 counties, supporting technology-based capital investment projected to be more than $68.6 million.