ED Report Q3 CY23

For fiscal year 2023 (July 1st, 2022 through June 30th, 2023), MTC was appropriated and received spending authority for $23.5M of funding from the state of Missouri to be used to catalyze innovation and entrepreneurship throughout the state. This appropriation represented $15M for the establishment of the Advanced Manufacturing Resiliency Grant and $8.5M for MTC to fund active programs and administrative costs. The $8.5M in general revenue appropriation represented a significant increase from our fiscal year 2022 ($3M) and fiscal year 2021 ($1M) appropriations. In response to increased state funding and approval to manage the federal SSBCI program on behalf of the state, MTC awarded over $26M in funding for fiscal year 2023, which represents nearly 7.5 times additional funds awarded compared to fiscal years 2022 and 2021.