RD562 - Commonwealth Center for Advanced Manufacturing Status Update – October 1, 2025
Executive Summary: Financial Update • CCAM continued its upward trajectory with record total, and federal, revenue in FY25. Commonwealth support has helped provide a firm foundation on which CCAM can grow. The primary focus for FY26 is further diversification within the industry and federal portfolios to mitigate risk of reliance on any one program. • CCAM is in the process of completing its annual audit for FY25. Final audit results are expected later this calendar year with an expected designation of an unqualified opinion. Audited financial statements for FY25 can be provided once received by CCAM. • CCAM's unrestricted cash position as of September 19, 2025, is [redacted]. • CCAM had a 29% increase in revenue YOY, for a total of $13.1M. • CCAM is estimated to have a Commonwealth economic impact of $53M annually, supporting over 225 high-paying jobs.(*1) • The Department of General Service's (DGS) acquisition of the CCAM building was finalized in January 2025, [redacted], as was envisioned when the associated legislation went into effect on July 1, 2021. • All trade debt is current as of September 30, 2025. Business Development • CCAM’s new membership agreement was ratified in February 2025, culminating 18 months of strategic planning, stakeholder engagement and final approval. This is the most significant structural change to CCAM's business model since its inception. It addresses critical barriers that previously hindered member recruitment and retention. • CCAM underwent a comprehensive brand refresh in 2025, highlighting its unique combination of industry-scale manufacturing equipment, in-situ analysis tools, digitally-enabled infrastructure, and diverse technical expertise. This has provided a clear framework for illustrating CCAM's differentiated role in bridging the critical gap between laboratory innovation and production-ready manufacturing solutions. • Three new Technology partners joined as industry members in FY25: WAAM3D, Hexagon and Quality Vision International (QVI). Federal Funding & Workforce Development • Annual federal award revenue grew to $3.1M in FY25, which is >600% increase in three years, validating the effectiveness of the Commonwealth’s investment in CCAM federal program development. • An additional $1.7M was awarded to CCAM in FY25 by its primary contract within the Marine Industrial Base (MIB) sector. • CCAM continues to lead one of 31 nationally designated Economic Development Agency (EDA) Tech Hubs, Virginia’s Advanced Pharmaceutical Manufacturing (APM) Tech Hub – on behalf of the Alliance for Building Better Medicine (ABBM). The team is currently developing their response to a federal notice of funding opportunity (NOFO) for FY26. • Named a VTOP Top Intern Employer for the fourth consecutive year • GO TEC® Expansion: CCAM was awarded a GO Virginia grant totaling $971K to implement Career Connections labs in five schools across Region 4. Operational Risks • The federal funding landscape is facing greater pressure under the current administration’s federal government reorganization. CCAM must continue to navigate potential funding risks that other organizations are experiencing due to proposed budget cuts, delays, new policies, termination or non-renewal, and capping of indirect cost rates on current and new grants. • New DoD contract solicitation requirements are increasing pressure to achieve Cybersecurity Maturity Model Certification (CMMC) 2.0 Level 2 compliance. This is a rigorous process, but necessary for CCAM if it continues to pursue awards that require handling of controlled unclassified information (CUI). Compliance efforts are underway. • CCAM must remain vigilant in its efforts to diversify its industry and federal portfolio to mitigate risk of reliance on any one contract or program. The new member model should greatly help this diversification and the CCAM team has been extremely active in its pursuit of additional federal programs. |
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