63N-3-1102. Manufacturing Modernization Grant Program -- Creation -- Purpose -- Requirements -- Rulemaking -- Report.
(1) There is created the Manufacturing Modernization Grant Program to be administered by the office. 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.
(2) An entity that submits a proposal for a grant to the office shall include details in the proposal regarding: the entity's plan to use the grant to fulfill the purpose described in Subsection; (1)(b) any plan to use funding sources in addition to a grant for the proposal; and any existing or planned partnerships between the entity and another individual or entity to implement the proposal. In evaluating a proposal for a grant, the office shall consider: the likelihood the proposal will accomplish the purpose described in Subsection; (1)(b) the extent to which any additional funding sources or existing or planned partnerships will benefit the proposal; and the viability and sustainability of the proposal. In determining a grant award, the office: may consult with the GOED board; and may prioritize a targeted industry or an entity with fewer than 250 employees.
(3) Before receiving the grant, a grant recipient shall enter into a written agreement with the office that specifies: the grant amount; 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 the expenses for which the recipient may use the grant, including: acquisition of manufacturing equipment; production, design, or engineering costs; specialized employee training; technology upgrades; or provision of a grant to another individual or entity for the expenses described in Subsectionsthroughor to otherwise fulfill the recipient's proposal. (3)(c)(i) (iv)
(4) Subject to Subsection, the office may, in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, make rules to establish: (2) the form and process for submitting a proposal to the office for a grant; the entities that are eligible to apply for a grant; the method and formula for determining a grant amount; and the reporting requirements for a grant recipient.
(5) On or before October 1 of each year, the office shall provide a written report to the Economic Development and Workforce Services Interim Committee regarding: each grant awarded; and the economic impact of each grant.