(a) An applicant shall submit an application to the Association of Arkansas Development Organizations in the form and manner required by the association.
(b) To be eligible for a talent recruitment grant under the Talent Recruitment Grant Program, an applicant shall:(1) Be either a:(A) Municipality in the state; or(B) Nonprofit organization in the state that has a mission that includes one (1) or more of the following:(i) Economic development;(ii) Workforce and talent development; or(iii) Community development;(2) Provide a talent recruitment plan that identifies the:(A) Applicant's proposed incentives and criteria for awarding incentives under this subchapter;(B) Total estimated costs of the applicant's talent recruitment program, including separate estimates of the costs associated with the design, administration, marketing, and incentive initiatives of the talent recruitment program;(C) Estimated state and local tax impact of the applicant's talent recruitment program;(D) Estimated total economic impact of the applicant's talent recruitment program; and(E) Applicant's individual goal and the estimated cost of the talent recruitment program per individual relocated to the state;(3) Demonstrate the applicant's ability to contribute at least twenty percent (20%) of the total cost for the applicant's talent recruitment program, including local investments and in-kind donations; and(4) If the applicant has previously received a talent recruitment grant under this subchapter, demonstrate that the applicant met its individual goal for each previous talent recruitment grant awarded under this subchapter.
(1) Be either a:(A) Municipality in the state; or(B) Nonprofit organization in the state that has a mission that includes one (1) or more of the following:(i) Economic development;(ii) Workforce and talent development; or(iii) Community development;
(A) Municipality in the state; or
(B) Nonprofit organization in the state that has a mission that includes one (1) or more of the following:(i) Economic development;(ii) Workforce and talent development; or(iii) Community development;
(i) Economic development;
(ii) Workforce and talent development; or
(iii) Community development;
(2) Provide a talent recruitment plan that identifies the:(A) Applicant's proposed incentives and criteria for awarding incentives under this subchapter;(B) Total estimated costs of the applicant's talent recruitment program, including separate estimates of the costs associated with the design, administration, marketing, and incentive initiatives of the talent recruitment program;(C) Estimated state and local tax impact of the applicant's talent recruitment program;(D) Estimated total economic impact of the applicant's talent recruitment program; and(E) Applicant's individual goal and the estimated cost of the talent recruitment program per individual relocated to the state;
(A) Applicant's proposed incentives and criteria for awarding incentives under this subchapter;
(B) Total estimated costs of the applicant's talent recruitment program, including separate estimates of the costs associated with the design, administration, marketing, and incentive initiatives of the talent recruitment program;
(C) Estimated state and local tax impact of the applicant's talent recruitment program;
(D) Estimated total economic impact of the applicant's talent recruitment program; and
(E) Applicant's individual goal and the estimated cost of the talent recruitment program per individual relocated to the state;
(3) Demonstrate the applicant's ability to contribute at least twenty percent (20%) of the total cost for the applicant's talent recruitment program, including local investments and in-kind donations; and
(4) If the applicant has previously received a talent recruitment grant under this subchapter, demonstrate that the applicant met its individual goal for each previous talent recruitment grant awarded under this subchapter.
(c) After approving an application under this section, the association shall disburse:(1) Fifty percent (50%) of the talent recruitment grant award to the recipient upon approval of the application; and(2) (A) Fifty percent (50%) of the talent recruitment grant award to the recipient when the recipient demonstrates that the recipient has successfully met at least one-half (1/2) of the recipient's individual goal.(B) If a recipient of a talent recruitment grant under this subchapter fails to meet at least one-half (1/2) of the recipient's individual goal, the association shall not disburse the remaining fifty percent (50%) of the talent recruitment grant award to the recipient.
(1) Fifty percent (50%) of the talent recruitment grant award to the recipient upon approval of the application; and
(2) (A) Fifty percent (50%) of the talent recruitment grant award to the recipient when the recipient demonstrates that the recipient has successfully met at least one-half (1/2) of the recipient's individual goal.(B) If a recipient of a talent recruitment grant under this subchapter fails to meet at least one-half (1/2) of the recipient's individual goal, the association shall not disburse the remaining fifty percent (50%) of the talent recruitment grant award to the recipient.
(A) Fifty percent (50%) of the talent recruitment grant award to the recipient when the recipient demonstrates that the recipient has successfully met at least one-half (1/2) of the recipient's individual goal.
(B) If a recipient of a talent recruitment grant under this subchapter fails to meet at least one-half (1/2) of the recipient's individual goal, the association shall not disburse the remaining fifty percent (50%) of the talent recruitment grant award to the recipient.
(d) Talent recruitment grants awarded under this subchapter shall:(1) Be awarded on an annual basis; and(2) Not exceed five hundred thousand dollars ($500,000) per applicant in a fiscal year.
(1) Be awarded on an annual basis; and
(2) Not exceed five hundred thousand dollars ($500,000) per applicant in a fiscal year.