Indiana gets $2.7 million strategy grant to plan around DOD budget cuts

The U.S. Department of Defense's (DOD) Office of Economic Adjustment (OEA) recently awarded Indiana $2.7 million in federal Defense Industry Adjustment (DIA) funds.

Indiana plans to use the grant to establish strategies for local businesses to deal with DOD spending reductions, fewer contracts and the uncertainty of the federal budgeting process, specifically for defense.

“We know that the defense industry has a profound impact on Indiana’s overall economy,” Lt. Gov. Sue Ellspermann said. “Through the OEA grant, we will continue to foster a culture that supports our businesses and helps to identify defense-related opportunities for continued growth and prosperity.”

The grant money will be part of the Indiana Defense Community Transition Strategy and will pay for an assessment to identify the businesses that are most likely to lose money from DOD budget cuts, as well as other avenues where they can look to supplement income.

“The Indiana Office of Defense Development (IODD) continues to be an advocate for Indiana’s strong defense ecosystem,” IODD Executive Director Duane Embree said. “It’s critical that we continue to help our defense companies diversify their scope and provide further assistance to ensure our workforce is equipped with the skill sets needed for the future. The OEA grant will aid in this mission as we continue to work together to enhance economic development throughout our state.”