Small Business Wins in Connecticut with Public Private Collaboration
Aug. 4, 2016
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A few years ago Connecticut had an enviable challenge. The manufacturing sector saw strong growth ahead and companies were concerned how they were going to keep up.
Catherine Smith, the commissioner of the Connecticut Department of Economic and Community Development, and Gov. Dannel Malloy went directly to the manufacturers seeking solutions.
“What we heard loud and clear is that our local companies, mostly midsized and small, felt there were growth opportunities in aerospace and shipbuilding, in particular, and they were concerned about being able to meet the needs of the OEMs that were increasing production,” explains Smith.
The state knew that it had to make an investment to ensure that the smaller companies would be able to provide the supply chain with necessary products.
The result was the creation of the Manufacturing Innovation Fund. It started in 2014 and last year was funded at $70 million. This year $60 million will be available. The fund’s goal is to keep the state's advanced manufacturing competitive.
Components of the fund include the Incumbent Worker Training Program, which helps employers keep their workers’ skills up-to-date, and the Apprenticeship Program, which helps companies turn trainees into skilled advanced-manufacturing workers.
An important element of the fund is the Manufacturing Voucher Program (MVP) which provides companies vouchers ranging from $5,000-$50,000 to be used for the purchase of specialized expertise that will help improve operations, including marketing, LEAN, compliance, and other technical assistance.
This fund has served more than 180 companies since 2014. With these funds 71% of the companies have purchased equipment, while 17% have used the money for training and 12% for new software, according to the CT Post.
Here are a few examples of companies that have benefited from the program:
Investment in Education
To ensure that the skill level of the workforce will be able to meet the demand,the state has been improving its community college education system.
The state has set up a program where students can earn a certificate in aerospace, submarines, biomedical technology and other fields in less than 10 months. The Advanced Manufacturing Technology Centers, which hosts the program, reports that the cost is as low as $1,000 out of pocket and the placement rate is 98%.
The centers recently got additional support in May when several manufacturers including Sikorsky, Pratt & Whitney and Electric Boat partnered with them to pair graduates with available jobs identified by the manufacturers.
To kick-off the partnership, Gov. Malloy launched a “300 Jobs, 300 Days” campaign to enroll and graduate a minimum of 300 students beginning in the upcoming fall 2016 semester.
The continual collaboration between the public and private sector is why Commissioner Smith feels hopeful that the state will add even more jobs to the sector this year than last.
“Our board teams is comprised of both government agencies and people running successful manufacturing companies, whether it is large, mid-sized and small, which enables us to focus on the solutions we need,” says Smith.