Erie Chamber Blog
Tuesday September 4,  2018
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Using MAATAC Funds to Grow your Company

Bill Scholz, Business Outreach Specialist ERCGP

There are numerous programs to assisted distressed manufacturers. For example, the Steel Valley Authority can help a firm restructure their finances, streamline operations, and find new markets. These resources are available at little to no cost, and all firm information is kept strictly confidential.

Another important program is MATAAC (MidAtlantic Trade Adjustment Assistance Center). MATAAC provides technical assistance to businesses negatively impacted by imports. MATAAC awards federal grants that cover up to 50% of fees associated with knowledge-based consulting needed to grow your business’ global competitiveness.  

In that sense it is a trade remedy for firms who are affected. For example, a manufacturing company in another country might aggressively pursue U.S. market share at prices below the cost of materials leading to an unfair competitive advantage. If you’ve lost revenue due to imports, there is a likelihood that you are eligible for MATAAC’s assistance.  

Technical assistance is available for virtually any business process including but certainly not limited to marketing, sales, operations, financial management, IT, succession planning, training, new product development, new service development, software customization, certifications, etc., and only requires a 25%-50% match from the firm.

MATAAC was started in 1974 by the U.S. Department of Commerce. Since then, it has made a significant impact on manufacturers. In 2017, MATAAC helped firms in its Mid-Atlantic portfolio generate a 34% increase in sales revenue, a 29% improvement in productivity, more than 600% growth in earnings and 4% job growth.

The possibilities are limitless. For example, a laboratory instrument maker used MATAAC funds to upgrade its new product development process, develop a new website, redesign its sales business process, reinvent its management information systems and create a bulletproof cash management system.  

Frequently Asked Questions

How much TAAF assistance can a firm expect to receive?

  • A maximum of $150,000 (depending upon the size of the firm and the complexity of the trade injury) split between the firm and the Trade Center.

Are there any costs associated with the TAAF program?

  • There is no cost to enter the program.

How long does it take to get my grant?

  • Each company’s circumstances are unique, but the entire process has averaged about four (4) months over the past couple of years. Your experience may be longer, or it may be shorter.

What kind of projects does the program pay for?

  • Funds can be used for virtually anything under the umbrella of general continuous improvement. They can’t be used for assets, salaries, or normal and continuing business expenses.

The objective of MATAAC is to grow the global competitiveness of U.S. firms. If you think that your firm could benefit, simply contact their regional representative listed below.

Holly Fitzgerald

Director, Business Development

MidAtlantic Trade Adjustment Assistance Center (MATAAC)

 

Read the Brochure: (Link)

Watch Video Testimonials from Manufacturers: (Link

“We invested a tremendous amount of dollars into our talent, so they could have the best training possible on the technology we gave them. So they could make the machines run in a fashion that is best of breed, best in the world. MATAAC was a partner with us. MATAAC helped us train our talent so that we could harness this technology, these robots, this software, so that we could grow to the next level, we could prosper and thrive. We left the hellish world of commodity products and we ascended towards a place where we can thrive as a company for our employees.”

TAGS:
  • funding opportunities
  • growth
  • assistance

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