A resource for retaining and expanding manufacturing and traded sector companies
Image by Michal Jarmoluk
Are you passionate about supporting local manufacturing and keystone companies in your community? Are you looking for funding resources to share with companies as part of a business retention and expansion strategy?
The Northwest Trade Adjustment Assistance Center (NWTAAC, NorthwestTAAC) helps manufacturing, agriculture, seafood, wood products, traded sector, and some service companies access federal cost-sharing funding up to $75,000 to help companies recover from import competition. Once a company is accepted into the program, company owners pick the projects they would like to complete and select the vendor. NorthwestTAAC is primarily a funding partner.
Don’t rule a company out! Company qualifying requirements are simple, and NorthwestTAAC staff can help determine whether a firm can benefit with a quick confidential phone call.
NorthwestTAAC works with economic development professionals across the region, including local and state economic development organizations, chambers of commerce, MEP Centers, Small Business Development Centers, industry associations, and local governments.
Eligible companies pick the projects and the vendors
Trade Adjustment Assistance for Firms, funded through the U.S. Economic Development Administration, gives qualifying companies the control to pick the strategy, the projects, and the outside consultants to complete projects that company owners believe will help them rebuild sales.
Companies have up to 5 years to complete projects across a wide variety of categories including manufacturing, marketing, quality assistance, technology, training, financial management, and management.
A resource for your business retention and expansion (BR&E) strategy
You know your local companies and are in the best position to help them identify economic development resources. NorthwestTAAC works closely with economic development organizations when they refer a company that might be eligible. Additionally, confidentiality is crucial – all calls with companies are “business confidential.”
We understand that company executive leadership is busy running a business. That is why we focus the initial eligibility assessment on a quick, confidential phone call where NorthwestTAAC staff outline the following:
- The value of the program (up to $75,000 in federal cost-sharing) for companies
- The requirements to qualify include revenue and employee reductions
- Any additional questions from the company
- Options to use the program in the future if it is not the right fit currently
NorthwestTAAC staff are also available to speak at business events or share materials on Trade Adjustment Assistance for Firms for newsletters, social media, and other communication materials.