State funds are now available to subsidize the cost of conducting a machining process improvement project.
This program is called Innovative Technology Insertion (ITI) for Connecticut Manufacturers. Basics are as follows:
• 50% subsidy for projects conducted
o Historically, projects have priced between $5K and $10K. Milling projects have yielded 50-70% reductions in cycle time and turning projects have yielded 10-20% reductions.
o In addition to the cycle time improvements, the revised machining process typically improves tool life by 2-2.5X and lowers both peak power and overall kWh usage.
• Each company/location is eligible for up to $10,000 of co-funding on machining improvement projects.
• Funding available will assist approximately 15 companies (first come basis).
Milled parts that have a lot of roughing have shown the best ROI. By reducing cycle time of existing CNC programs, companies have lowered their per piece cost, balanced a cell, or obtained additional capacity without CAPX. There is no risk; if you are not satisfied with the improved CNC program, you will not be invoiced.