Kreg Tool gets $500,000 grant
Recently, Iowa Governor Kim Reynolds and the Iowa Economic Development Authority (IEDA) announced that Kreg Tool was awarded $500,000, the maximum amount possible, through the Manufacturing 4.0 Workforce Innovation grants, reported Kreg Tool.
Kreg’s award is part of $20 million in grants that were awarded to 46 companies in Iowa. This grant was geared toward Iowa manufacturers with 76 to 250 employees that are investing in Industry 4.0 technologies to address workforce issues exacerbated by the pandemic, said the company.
“Our Manufacturing 4.0 initiative focuses on one of Iowa’s largest industries and will help them unleash new potential to grow their businesses,” said Reynolds.
“To maintain our economic vitality in this sector, particularly as we work to mitigate ongoing workforce shortages, these grants serve as a critical resource to support advanced manufacturing businesses,” said Reynolds.
Kathy Anderson, who oversees Kreg’s community engagement and government relations, said, “We couldn’t be more thrilled to receive this grant, especially during this time when Kreg is working to implement innovative technologies.”
In addition to Kreg receiving these funds, the IEDA asked Anderson to serve as its industry co-chair who will be responsible for moving this entire effort forward for the state of Iowa.
“This grant will provide the opportunity for Kreg to grow and allocate existing human capital into more strategic roles,” said Anderson.
Founded in 1989 and headquartered in Ankeny, Iowa, Kreg Tool Company creates solutions that give woodworkers and do-it-yourselfers the confidence to create their own projects.