SBANE is dedicated to helping small and mid-sized businesses grow and thrive by offering a specialized grant programs, including the Defense Diversification Program and the Manufacturing Matching Grant Program.
Defense Diversification Program
From May 2016- June 2017 SBANE and MassDevelopment offered the “Defense Diversification Program," an opportunity for Massachusetts defense-dependent businesses to diversify their product line and manufacturing processes to other industry verticals through high-powered private consulting expertise. Funding for this program was provided through the Office of Economic Adjustment within the Department of Defense. The program awarded grants to 30 companies, supporting 1,018 jobs throughout the Commonwealth.
This program has not been renewed for the current fiscal year.
SBANE plays a major role in supporting Massachusetts manufacturing companies through the Manufacturing Matching Grant Program, formerly known as “Lay-off Aversion Program Through Management Assistance.
The program, which is funded through an appropriation from the Massachusetts State Legislature, seeks to provide targeted grants to manufacturing companies for projects that enhance the company’s top or bottom line, and has recently been approved for a ninth year of state funding. SBANE has allocated $1,637,500 in public funds to over 187 Massachusetts manufacturing companies that supported 9,364 jobs and approximately $478 million in total payroll since the program’s inception.
Click here for more details on the Manufacturing Matching Grant Program and to see program success stories.