Legislation recently introduced in the state House of Representatives would support advanced manufacturing technologies by incentivizing investments in equipment, infrastructure, and retention of top-tier talent.
House Bill 1388 would establish grants for equipment to be used in an advanced manufacturing project. It would issue state-administered low-interest loans for the purchase, construction, rehabilitation, and retrofit of facilities for advanced manufacturing infrastructure.
In addition, the bill imposes powers and duties on the Department of Community and Economic Development and the Pennsylvania Economic Development Financing Authority, encourages advanced manufacturing facilities and infrastructures to engage in business partnerships with state-related institutions, and establishes the Advanced Manufacturing Initiative Fund and the Advanced Manufacturing Venture Loan Program.
“Advanced manufacturing technologies depend on the use and coordination of information, automation, computation, software, sensing and networking,” Rep. Valerie Gaydos (R-Allegheny), who introduced the bill, said. “In addition, it may include the use of materials and capabilities enabled by physical and biological sciences. Advanced manufacturing enables new methods of manufacturing existing products, as well as the creation of new products emerging from new technologies. Anything we can do to incentive this expanding industry will produce tangible economic activity.”
The bill is currently under consideration by the House Commerce Committee.