Local Firm Earns Manufacturing Grant
Small businesses around the state were awarded manufacturing grants to promote industry innovation. Among the recipients was Compendium Federal Technology LLC.
The Lexington Park, MD-based firm will purchase a 3D modeling printer for its defense contracting design work, according to the Maryland Department of Commerce, which made the grants possible.
The Maryland Manufacturing 4.0 program, an initiative that provides grants to small and mid-sized Maryland manufacturers to invest in Industry 4.0 technologies, provided 23 businesses with a total of nearly $1 million to modernize their operations.
“Investing in Maryland’s manufacturing industry helps keep our state’s maker and business communities thriving,” Maryland Gov. Wes Moore (D) said. “Resources like the Maryland Manufacturing 4.0 grant program will ensure that the industries remain innovative and competitive, and ultimately bring more business opportunities to Maryland.”
Similar to smart manufacturing, which emphasizes the role of new technology in manufacturing, Industry 4.0 represents the fourth industrial revolution, focusing on the digitization and automation of manufacturing facilities to help companies remain competitive and drive business growth. Anticipated outcomes from investing in Industry 4.0 technologies could include increased productivity and sales, cost savings, retention of employees, and more.
Examples of the projects approved for funding include purchasing an automated canning system for brewing, investing in employee training software for machinery, and utilizing a robot to transport inventory.
To learn more about the program, visit the Commerce Department’s website.
