The Missouri Technology Corporation (MTC) announced today that it has awarded a total of $14.85 million to two recipients through the Advanced Manufacturing Resiliency Grant Program. Jordan Valley Innovation Center (JVIC) at Missouri State University and the API Innovation Center (APIIC) at Cortex Innovation Community will use grant awards of $5.4 million and $9.45 million to invest in the manufacturing of semiconductors and pharmaceuticals, respectively.
“We’re pleased to invest in Missouri’s technology industry and local manufacturing through the use of the Advanced Manufacturing Resiliency Grant Program,” said Governor Mike Parson. “This program allows us to support our state’s high-tech sector and its ability to make products important to national security. Our goal is always to strengthen Missouri’s economy, and these investments are helping achieve that by keeping the production of essential goods right here in our state.”
The Advanced Manufacturing Resiliency Grant Program provided grants to Missouri organizations that create infrastructure for industries that are fundamental to the national security of the United States, especially where the manufacturing of essential products have become reliant on foreign production, which potentially jeopardizes a reliable supply chain. Grants focus on manufacturing where Missouri has an inherent connection or advantage to create an environment for significant economic growth. Eligible sectors included, but were not limited to, the manufacturing of active pharmaceutical ingredients (API) and semiconductors.
When approving the proposals to be funded, MTC’s Directors believed that both of these projects not only represented the best opportunities for the grant funding to be catalytic in nature, but were also opportunities where the grant funding would be used to support foundational elements critical to developing two emerging sectors – flexible semiconductors and API. MTC believes these sectors represent areas where Missouri could become a national leader, representing an excellent opportunity for innovation and the potential for a significant positive economic development impact for the state.
About Missouri Technology Corporation
The Missouri Technology Corporation is a public-private partnership created to promote entrepreneurship and foster the growth of new and emerging high-tech companies. MTC’s vision is to transform Missouri through the power of entrepreneurship by serving as a catalyst for technology-based innovation. MTC helps achieve sustainable economic growth through leadership and strategic investments that help entrepreneurs create and grow technology businesses in Missouri.
To learn more about MTC, visit missouritechnology.com.