Manufacturing program looks to aid troubled industry
The Trade Adjustment Assistance program, which provides grants to fund business expansions, is administered by the San Antonio-based Southwest Trade Adjustment Assistance Center and according to Mary Weaver, director of international business development at the Fort Worth Chamber of Commerce, the program is an important one in today’s global economy.
“Looking at the current economic environment and the conditions that we find ourselves dealing with, I heard about this program and decided to do some research to learn more about it because it occurred to me that at this point in time, this could just be an ideal opportunity for area companies to be able to access some matching grant funds that would put them in a position to make the kind of improvements that could have some benefits for them long term,” Weaver said. “And ultimately help improve their bottom line and do it in such a way that they aren’t responsible for footing the entire bill. That’s basically what this program is designed to do.”
Though The Texas Workforce Commission continues to identify Texas as the No. 1 place in America to do business, the state has not been able to escape unemployment. In August, the Texas Workforce Commission reported through May 2009, the United States lost 654,000 manufacturing jobs for a 5.2 percent decrease. By comparison, Texas saw a 4 percent loss of manufacturing jobs for the same period.
According to the business executives responding to the Texas Manufacturing Outlook Survey, released September 28 by the Federal Reserve Bank of Dallas, Texas manufacturers are showing signs of bottoming out, indicating the beginnings of a recovery.
Weaver said the TAA program cannot stop job loss, but it can help struggling companies continue to grow and establish worldwide business connections so the business can prosper – and begin hiring – when the recession comes to an end.
“With the economy being the way it is right now, companies are looking for opportunities and strategies and really taking advantage of this time to position themselves for opportunities once the economy begins to turn,” Weaver said. “It’s about positioning. Staying relevant and staying competitive and this is something that will hopefully make what has been a comparatively strong environment even stronger in Fort Worth. It will make our companies even stronger.”
The Trade Adjustment Assistance program has been in existence for a few years through the U.S. Department of Commerce, but Weaver said it has not been accessed and used in this area.
The local program is available to both manufacturers and service providers in North Texas and can provide matching funds for identified business improvements up to $75,000.
There are some things the program will not fund such as wages or hardware and raw materials. The kinds of things the program can pay for includes strategic planning, international market research or supply chain management improvements, though the possibilities are endless because each grant is based on a specific business’ need.
“Those are all possibilities, but there are ones that wouldn’t be on anybody’s list, but would probably also qualify; things more specific to each business – anything that is an improvement with long-term benefits,” Weaver said. “This isn’t a Band-Aid solution to a chronic, long-term problem.”
And Weaver said TAA is available for any size of manufacturing or service provider company – small, medium or large – and they do not have to be members of the Chamber to participate in the program.
Weaver said the application process is simple: call and she will come for a visit.
“A company might call and say they’re interested. I would set up a meeting and go to the company and find out who they are and what they do, what some of the issues are, the challenges they’re facing, what it is they need to address,” she said.
Weaver said she would then get a representative from the San Antonio office involved and, once accepted, her office can even help local companies fill out all the necessary application paperwork.
“When you’re trying to run a business, the whole idea of stopping what you’re doing to figure out how to fill out a big application can be challenging and off-putting, so to have somebody there to put it together and guide you through it can be fantastic.”
Through the program, a consultant is hired for each business and specific needs are identified, Weaver said.
TAA can fund projects up to $150,000 with a $75,000 matching grant with no set limit of companies that can be involved, Weaver said. A company can, in fact, choose to tackle a project larger than $150,000, but the TAA will only match up to $75,000.
“There is some investment by the company, but this can make it possible for you to implement a game plan that otherwise may just be on the ‘to do’ list at some point,” Weaver said.
The local effort to round up manufacturing and service provider companies began in the past few months and Weaver said she is working with a few mid-sized manufacturing companies currently.
“The whole thing is unfolding in such a way that with these resources, a company can really position themselves,” she said. “And our goal is we just want to help and benefit as many companies as can.”
For more information, check the
Chamber’s Web site at www.fortworthchamber.com
