SBA announces RIC funding supporting domestic manufacturing

The Small Business Administration (SBA) has announced that it has opened its Regional Innovation Cluster (RIC) funding of up to $7.5 million in support domestic manufacturers.

A statement from the SBA said that 8% of American manufacturers are small businesses. The funding seeks to bring jobs back to the U.S. and "strengthen" supply lines. 

“President Trump’s fair trade policy sets the foundation for the return of American industrial dominance – and at the SBA, we’re working to support this agenda with targeted resources for domestic manufacturers,” said SBA Administrator Kelly Loeffler. “Our new RIC funding and ongoing outreach serves small businesses with practical tools to reshore jobs and critical industries – reducing our reliance on foreign suppliers and protecting American strength and security."

"Not only will small businesses rebuild our industrial base – they will solidify America as the global leader in advanced manufacturing and innovation for the long term.”

The SBA is seeking proposals for the following: 

• Advanced Manufacturing
• Critical Minerals
• Nuclear Microreactors
• Quantum Tech & Emerging Systems Artificial Intelligence
• Information Technology (cybersecurity, cyber operations, data storage, etc.)
• Semiconductors

RIC solicitation closes on Aug. 8 at 4 p.m. More information can be seen at this link.