The Missouri Technology Corporation (MTC) announced today that it has awarded a total of $14.85 million to two recipients through the Advanced Manufacturing Resiliency Grant Program. Jordan Valley Innovation Center (JVIC) at Missouri State University and the API Innovation Center (APIIC) at Cortex Innovation Community will use grant awards of $5.4 million and $9.45 million to invest in the manufacturing of semiconductors and pharmaceuticals, respectively.
"We're pleased to invest in Missouri's technology industry and local manufacturing through the use of the Advanced Manufacturing Resiliency Grant Program," said Governor Mike Parson. "This program allows us to support our state's high-tech sector and its ability to make products important to national security. Our goal is always to strengthen Missouri's economy, and these investments are helping achieve that by keeping the production of essential goods right here in our state."
The Advanced Manufacturing Resiliency Grant Program provided grants to Missouri organizations that create infrastructure for industries that are fundamental to the national security of the United States, especially where the manufacturing of essential products have become reliant on foreign production, which potentially jeopardizes a reliable supply chain. Grants focus on manufacturing where Missouri has an inherent connection or advantage to create an environment for significant economic growth. Eligible sectors included, but were not limited to, the manufacturing of active pharmaceutical ingredients (API) and semiconductors.
When approving the proposals to be funded, MTC's Directors believed that both of these projects not only represented the best opportunities for the grant funding to be catalytic in nature, but were also opportunities where the grant funding would be used to support foundational elements critical to developing two emerging sectors – flexible semiconductors and API. MTC believes these sectors represent areas where Missouri could become a national leader, representing an excellent opportunity for innovation and the potential for a significant positive economic development impact for the state.
"The awards to JVIC and APIIC represent an opportunity, incubated in the MTC funding process, to provide catalytic investment that accelerates promising areas in pharmaceutical and semiconductor development within the state," said Dr. Dedric Carter, Chairman of MTC. "These areas are important to the health and quality of life of every Missourian. Our investments here help to greatly advance our contributions to local and national opportunities of significance with a stronghold in the state."
JVIC is a unique innovation center model focused on partnering with businesses to create and advance new technologies. JVIC, with private sector partners, is a leading force in technology development focused on research and development in nanotechnology, materials, and other advanced technologies, including semiconductor packaging and flexible electronics. JVIC supports and strengthens companies in the semiconductor industry and allows Missouri companies to collaborate with other U.S. companies to bring new technologies and jobs to the state. JVIC seeks to attract new semiconductor technology companies to Missouri and promote significant economic growth.
APIIC is developing a model to address issues created by the shift in manufacturing to other countries. It seeks to catalyze the sourcing, de-risking and deployment of innovative new technologies that will enable reshoring of API and drug product manufacturing. These efforts are aimed at addressing our national crisis while benefitting Missouri's economy and strengthening its pharmaceutical industry. APIIC leverages stakeholder partnerships and networks aligned around building a robust, scalable, and inclusive regional innovation ecosystem to protect U.S. security interests. This shared vision helps ensure a reliable supply of pharmaceutical ingredients needed for drugs essential to public health.
Categories: Missouri, Business