KY-MEP announces: “Catalyst Equipment Match” Boosting Kentucky Manufacturing

Louisville, KY – Kentucky Manufacturing Extension Partnership (KY-MEP) and The University of Louisville were awarded $8 million from the Kentucky Cabinet for Economic Development tax base to launch “Catalyst” a New Technology and Capital Investment Equipment Match aimed at:

1. Increasing production efficiency, capacity, or quality.
2. Expanding and optimizing product offerings and performance.
3. Enhancing customer satisfaction and engagement.
4. Strengthening the competitive advantage of manufacturers throughout our state.

The KY-MEP was established to solve manufacturing problems. The KY-MEP is dedicated to supporting Kentucky Manufacturers with a suite of services targeting growth / innovation, operations / efficiency and leadership / culture. “The KY-MEP is proud to offer yet another service with the administration of the Catalyst Equipment Match. Our goal is to enhance Kentucky's manufacturing competitiveness by advising businesses and assisting them in acquiring essential equipment.” said Scott Broughton , Executive Director. He continued,

“The goal is to accelerate manufacturing competitiveness throughout the Commonwealth, with a focus not just on new equipment, but looking ahead into industry 4.0 and advanced manufacturing to help our regional manufacturing economy thrive.”

Kentucky boasts a robust manufacturing presence across diverse sectors such as automotive, metals, and food and beverage, and is home to over 5,000 manufacturing facilities, employing more than 250,000 people accounting for $40.2B of Kentucky-made products that were exported around the globe in 2023. ?

The Catalyst Equipment Match is designed to stimulate manufacturing investments that will position business operations for future growth and prosperity. For the next two years, the Catalyst will make $4 million per year available to Kentucky manufacturers in the form of equipment matching for companies committed to making capital investments in:

• New(er) Technologies such as CNC Machines, Robots, Self-Guided Vehicles, PLCs and IT / OT Systems.
• Industry 4.0 or Smart Technologies such as Additive Manufacturing, Artificial Intelligence, Autonomous Robots / Vehicles, Big Data / Analytics, COBOTS, Cybersecurity, Digital Twin, Industrial Internet of Things (IIoT), Machine Learning, Machine Vision / Visual Inspection, Sensor / Wearable Technology

Companies may apply for equipment match up to or equal to the amount of the qualified investment in New and / or Advanced Technology Equipment. Equipment match will be awarded up to $200,000 per qualifying company.

To be eligible, applicants must be registered to do business in the state with the Secretary of State’s Office and have plans to purchase New and / or Advanced Technology Equipment that will be located and utilized in Kentucky. Applications will be evaluated based on the project’s overall expected impact on the company’s operations and its workforce, training and wage increases; new jobs; and the state’s manufacturing capabilities.

Additional information and the online application are available at mepcatalyst.com. The portal opens October 1st, 2024. Interested Kentucky companies are encouraged to apply as soon as possible due to high demand. A volunteer board of industry professionals will review and evaluate all applications. Semi-finalists will be contacted for a site visit.