First American Manufacturing Finance launched a scholarship for students who will pursue or are pursuing a degree related to the manufacturing industry.

The $1,500 Future Leaders of Manufacturing scholarship is meant to encourage and develop talent as more companies attempt to find and retain skilled employees. According to the National Association of Manufacturers (NAM) recent Manufacturers’ Outlook Survey, 72.9% of respondents listed attracting and retaining a quality workforce as a primary business challenge.

“We have the privilege of meeting with hundreds of manufacturing executives each year that are investing in software, robotics and automation projects,” said David Neighbour, senior vice president at First American. “Many cite a need for capable college graduates in the years ahead. We wanted to play a small part in addressing this long-term business challenge.”

Applications for the scholarship are now being accepted for students studying engineering, manufacturing technology, CAD drafting, tool design and robotics. Applications must submit an essay about how they plan to use their studies to become a future leader in the manufacturing industry.

“Exciting and groundbreaking advances are happening in the manufacturing space, and we are excited to encourage the next generation of manufacturing talent,” said Jen Fitch, senior vice president at First American.