Greendale, Versailles Businesses Awarded Manufacturing Readiness Grants

Hoosier businesses plan investments to modernize manufacturing operations, increase health care production to support ongoing COVID-19 response efforts

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(Indianapolis, Ind.) – Two local manufacturing businesses have received a grant from the Indiana Economic Development Corporation.

Nearly $2 million in grants have been awarded to 20 Indiana businesses in Manufacturing Readiness Grants, which Governor Holcomb first announced in May.

The grants are part of the Economic Activity Stabilization and Enhancement program. Funding is designed to stimulate manufacturing investments that will help the grant recipients with future growth and prosperity.

Locally, Greendale-based Bed Techs Inc. was awarded $150,000. The business, which was established in 2000, produces used, refurbished and reconditioned Hill-Rom hospital beds, stretchers, medical equipment and replacement bed parts.  

Bed Techs Inc. is also in the process of developing an innovative antimicrobial copper coating that can be applied to surfaces for the health care industry and kills 99.9 percent of bacteria within two hours, while continuing to kill 99 percent of bacteria even after repeated contamination.

Versailles-based Beverly Industrial Services Inc. received a $10,000 grant from the IEDC. They specialize in tool making, machining and engineering the metal-working field. Beverly Industrial Services is investing in updating equipment to manufacture knives, spacers and tooling for the slitting industry, including aerospace, medical, textile and automotive.

“The response we received from Indiana businesses to the Manufacturing Readiness Grant program was incredible, as manufacturers across the state have been enduring the pandemic and are moving forward with positive momentum despite shared challenges,” said Indiana Secretary of Commerce Jim Schellinger. “We couldn’t be more grateful to these companies for contributing to Indiana’s bright economic future.” 

The Indiana Manufacturing Readiness grant program made available $4 million in the form of matching grants up to or equal to the amount of the qualified investment in new equipment and machinery (minimum 1:1 investment match).

The program has received significant interest since it was announced in May and additional grant applications are currently under review. While these applications, if approved, would exceed the allocated program funding, Conexus, with the input of a peer review panel, will continue to assess applications and make funding recommendations to the IEDC, which will fund select applications if and when additional funding becomes available. Eligibility requirements and the grant application are available online.