 |
|
|
|
|
|
|
|
|
|
 |
|
||||||||
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
 |
 |
|
||||||
 |
|
||||||||
NYSTAAC helps secure Federal Financial Assistance for New York manufacturing and service companies that are striving to compete globally.
If import competition has resulted in your business experiencing a decline in sales or production, and also a staff reduction (or a pending staff reduction) NYSTAAC can help! Financial assistance is available to offset the cost of business-strengthening projects. Assistance available through this government subsidized program includes:
Federal Grants for Manufacturing and Certification
Federal Grants for Marketing and Sales
Federal Grants for Management and Financial Planning
Federal Grants for Information Technology
Federal Grants for Engineering and Product Development
There is no cost to determine eligibility!
NYSTACC provides free assistance for completing and submitting eligibility certification forms for these federal grants.
NYSTAAC Federal Grant Eligibility
Manufacturing and service firms doing business in New York State that have been adversely affected by foreign trade are eligible for assistance through the New York State TAAC.
In most cases, your company's eligibility for assistance is based on meeting 3 criteria:
1. Identify Significant Foreign Competition
Similar imported products or services have contributed importantly to the loss of sales and demonstrated by:
- Customers reducing their purchases in favor of imported products.
And / Or:- Quotations or bids that were lost in favor of imported products.
2. Decline in Sales Volume
Experiencing a recent decline in sales, production volume, or both:
- A decline in total sales or production in the most recent 12 month period compared with preceding 12 months. (The look-back period was recently amended from up to 36-months to 12.)
And / Or:- An interim decline in sales or production in the most recent 6 month period compared with the same 6 month period in the prior year.
3. Workforce Reduction
Experiencing a decline in workforce employment (or are anticipating one):
- Decline in average employment in the most recent 12 month period compared with the preceding 12 month periods. (The look-back period was recently amended from up to 36-months to 12.)
AND/OR- An interim decline in average employment in the most recent 6 month period compared with the same 6 month period in the prior year.
If you believe your business may qualify, contact the NYS TAAC directly by calling their Binghamton office at 607-771-0875 or 212-921-1662. They can assist you in a preliminary, confidential assessment of whether or not the TAAC program could assist you!
TAAC Federal Grant Assistance Process
The Process: 3 Phases of Qualification.
Qualification for Federal Grant funding through the TAA program is a 3-Phase process. As an applicant, NYSTAAC will work closely with you, providing guidance through each phase for optimum success:
Phase 1: QUALIFY
NYSTAAC assists your company — at NO COST— with applying for qualification. We review your company history, analyze qualification levels, and prepare and submit a “petition” that is reviewed by the EDA for Certification to participate in the TAA for Firms program. The timeframe for an EDA decision is typically 60 days from the date the petition is submitted.Phase 2: PLAN
With Certification received, NYSTAAC professionals visit your company to conduct a thorough audit and to identify your firm’s strengths and weaknesses. We then work with you to create a formal Adjustment Plan (AP) — a customized strategy designed to help your business grow and prosper through mission-critical projects.Proposed projects can include (but are not limited to) marketing, export assistance, manufacturing certification, product development, plant layout, worker incentives, cost systems, the preparation of business plans, and financial restructuring. The completed formal Adjustment Plan is then submitted to theDepartment of Commerce for funding approval. Approval of the AP usually takes two to three weeks. Costs for completing Phase 2 are shared between your and NYSTAAC, with NYSTAAC paying 75% and your firm paying just 25%.
Phase 3: IMPLEMENT
With your Adjustment Plan approved, NYSTAC then helps you find and manage resources while helping to fund customized, business-boosting projects.
- NYSTAAC pays 75% of grants totaling up to $30,000
- NYSTAAC pays 50% of grants totaling over $30,000 up to $150,000
For additional information, please contact:
Trade Adjustment Assistance Center [click here to visit their website]
81 State Street Suite 4
Binghamton, NY 13901-3315
You can also determine your eligibility for assistance by using the online qualification tool by clicking here.
If you are not sure which funding programs or resources are ideally suited to meet your needs, CITEC staff are well-versed and connected to a variety of programs available to North Country companies... just contact us today for expert guidance.
