63N-3-1102. Manufacturing Modernization Grant Program — Creation — Purpose — Requirements — Rulemaking — Report.
| (1) |
Terms Used In Utah Code 63N-3-1102
| (a) |
There is created the Manufacturing Modernization Grant Program to be administered by the office. |
| (b) |
The purpose of the program is to award grants to existing Utah businesses to establish, relocate, retain, or develop manufacturing industry in the state and lessen dependence on manufacturing overseas. |
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| (2) |
| (a) |
An entity that submits a proposal for a grant to the office shall include details in the proposal regarding:
| (i) |
how the entity plans to use the grant to fulfill the purpose described in Subsection (1)(b); |
| (ii) |
any plan to use funding sources in addition to a grant for the proposal; and |
| (iii) |
any existing or planned partnerships between the entity and another individual or entity to implement the proposal. |
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| (b) |
In evaluating a proposal for a grant, the office shall consider:
| (i) |
the likelihood the proposal will accomplish the purpose described in Subsection (1)(b); |
| (ii) |
the extent to which any additional funding sources or existing or planned partnerships will benefit the proposal; and |
| (iii) |
the viability and sustainability of the proposal. |
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| (c) |
In determining a grant award, the office:
| (i) |
shall consult with the GO Utah board; and |
| (ii) |
may prioritize a targeted industry or an entity with fewer than 250 employees. |
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| (3) |
Before receiving the grant, a grant recipient shall enter into a written agreement with the office that specifies:
| (b) |
the time period and structure for distribution of the grant, including any terms and conditions the recipient is required to meet to receive a distribution; and |
| (c) |
the expenses for which the recipient may use the grant, including:
| (i) |
to acquire manufacturing equipment; |
| (ii) |
production, design, or engineering costs; |
| (iii) |
specialized employee training; |
| (iv) |
technology upgrades; or |
| (v) |
to provide a grant to another individual or entity for the expenses described in Subsections (3)(c)(i) through (iv) or to otherwise fulfill the recipient’s proposal. |
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| (4) |
Subject to Subsection (2), the office may, in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, make rules to establish:
| (a) |
the form and process for submitting a proposal to the office for a grant; |
| (b) |
which entities are eligible to apply for a grant; |
| (c) |
the method and formula for determining a grant amount; and |
| (d) |
the reporting requirements for a grant recipient. |
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| (5) |
On or before November 30 of each year, the office shall provide a written report to the Economic Development and Workforce Services Interim Committee regarding:
| (a) |
each grant awarded; and |
| (b) |
the economic impact of each grant. |
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Enacted by Chapter 296, 2022 General Session
Technically renumbered to avoid duplication of enacted Part also enacted in HB 17, Chapter 22, HB 326, Chapter 361, and HB 333, Chapter 362.
