A local program to help manufacturers solve business problems will get nearly $2 million.
The program, called “Fastlane,” will benefit from a five-year Ohio Development Services Agency award, an announcement said.
Fastlane will receive $1.4 million, its office said. It also expects to receive an additional $500,000 to support new technologies and supply chains for aerospace materials and manufacturing in Ohio.
The program is located at the University of Dayton Research Institute’s Manufacturing/Technology Solutions Accelerator Office.
“We are proud to be awarded funding that will allow us to strengthen and grow manufacturing throughout our eight-county region,” Phil Ratermann, Fastlane director, said in a release. “This funding will be used to bring our specialized manufacturing consultants to companies, thus subsidizing some of the costs for services that are normally beyond the reach of small business budgets, and to continue to offer services and training sessions to help manufacturers become more competitive.”
Fastlane will subcontract to five partners: Sinclair Community College, Clark State Community College, Dayton Region Manufacturers Association, Dayton Better Business Bureau, and Champaign Economic Partnership.
Fastlane says it has helped manufacturers achieve more than $16 million in savings, $36.5 million in new incremental sales, the creation and retention of 165 jobs and additional investments for growth totaling more than $24.7 million.