Help planned for companies facing military cuts
A group of universities representing Michigan, Ohio and Indiana is getting nearly $2.5 million to help small- and medium-size companies affected by military spending cuts.
The University of Michigan's Institute for Research on Labor, Employment, and the Economy has been awarded the grant in partnership with Ohio State University and Purdue University. It's for a regional Defense Manufacturing Assistance Program.
The federal funds announced Wednesday are from the Office of Economic Adjustment. The money is part of a project that will assist companies in Michigan, Indiana and Ohio in finding new markets, supporting business stabilization and implementing diversification strategies.
The Defense Department says defense manufacturers in the three states have announced more than 3,900 layoffs since 2012.
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