INDIANAPOLIS – The Indiana Office of Defense Development (IODD) is now accepting applications for the Indiana Defense Industry Adjustment grant program.
This grant program, funded by the U.S. Department of Defense (DOD) Office of Economic Adjustment (OEA), assists small and mid-sized companies reduce their dependency on DOD procurement activity by helping them to diversify into new markets. By diversifying their revenue streams, potential cuts or changes in federal defense spending will have less detrimental impact on Indiana-based contractors. The grant helps companies withstand reductions, allowing them to increase economic activity and create jobs in the State of Indiana.
“This is a great opportunity for defense firms in Indiana to diversify their revenue streams and strengthen their business as a whole,” said Brandi Hughes, IODD Director of Operations .
Companies are eligible for up to $50,000 of consulting services in the following four areas: strategic planning, strategic communications, lean product development, and quality certifications. There are no cost requirements for participating companies other than time. Companies must meet the following four requirements to apply: (1) have been in operation in Indiana for a minimum of one year prior to application; (2) have at least one full-time employee; (3) be a defense contractor or subcontractor to a defense contractor; and (4) have experienced a loss of revenue due to reduced DoD expenditures.
IODD has engaged kglobal, a strategic communications firm with extensive OEA grant experience in three other states, to spearhead consulting and diversification efforts under the grant program. kglobal is working in collaboration with several other service providers, four of which are Indiana-based companies; Simon Everett, Indiana Strategic Research Group, Maple Hill Engineering, Mary Romeo and Associates, and QAI.
About the Indiana Office of Defense Development:
The Indiana Office of Defense Development (IODD) was created through an executive order in 2013 with a focused effort on growing the defense sector business in Indiana by keeping and growing high value defense and national security jobs for Hoosiers.
The IODD is part of Lt. Governor Suzanne Crouch‘s Family of Business which also includes the Office of Community and Rural Affairs (OCRA), Indiana State Department of Agriculture (ISDA), Indiana Office of Tourism Development (IOTD), and the Indiana Housing and Community Development Authority (IHCDA).