Business People Standing Individually And A Green Cartography Of The World Above.Are you a manufacturer whose business has been negatively affected by foreign competition? There is a federal program administered by the Mid-Atlantic Trade Adjustment Assistance Center (MATAAC) which can help you identify industry-specific experts to help your business recover and become more globally competitive… and they’ll share 50% of the project costs. In early July, President Obama signed new trade legislation which included a re-authorization of the Trade Adjustment Assistance for Firms (TAAF) for another 6 years. Many companies are familiar with TAA for employees. This is a type of TAA for the employers.  New changes to the grant program include:

  • Lookback period to qualify a business as trade injured has been extended from the current 2-year period to 4 years.
  • The new lookback criteria applies retroactively to any firm that would have qualified for certification had these new rules already been in place, if company re-files its documentation by September 27, 2015.
  • A firm can be re-certified as trade injured & therefore apply for more assistance. The decision is made on a case-by-case basis & requires a compelling argument to the agency for a renewed classification.
  • MATAAC was allocated additional monies to offer assistance between now and March 31, 2016.

Check www.maatac.org for additional information. Contact one of the NWIRC Business Advisors to inquire about other mini-grants that can assist with projects to improve your competitive edge.