The U.S. Department of Defense Office of Economic Adjustment has awarded Indiana $2.7 million in federal Defense Industry Adjustment funds. The state says the grant will be used to help businesses and communities plan for reductions in DOD spending.
Lt. Governor Sue Ellspermann’s office says the Indiana Office of Defense and Development will create an Indiana Defense Community Transition Strategy and will use the grant to identify small and mid-sized manufacturers and companies, along with cities and towns, that are most at risk to be affected by defense spending reductions. The grant will also be used to better understand the uncertainty in the federal budgeting process.
“We know that the defense industry has a profound impact on Indiana’s overall economy,” said Lt. Governor Ellspermann. “Through the OEA grant, we will continue to foster a culture that supports our businesses and helps to identify defense related opportunities for continued growth and prosperity.”
The state says the scope of the grant includes the development of a defense-related supply chain in Indiana, workforce development recommendations for sustained growth and identifying defense technologies to expand entrepreneurship opportunities.