PRIA, Government Policy, Made Personal

Summary

The Appalachian Regional Commission can give money, technical help, or contracts to help start and grow new businesses in the region. A "business incubator service" means services a new business needs to get started and stay open. Examples include legal help (like making a basic charter or contract), help protecting ideas (patents or trademarks), help getting and using advanced technology (including internet services), and advice on planning, marketing, or advertising. The Commission can fund projects that teach entrepreneurs and students, help get loans or investment (for example by helping create venture capital funds), help communities plan economic development, build networks of business incubators, and support groups that run incubators. Grants can pay up to 50% of a project’s cost, but up to 80% in counties with a "distressed" designation and up to 70% in counties with an "at-risk" designation under section 14526. Money can come from these program funds alone, from other federal programs, or from other sources. The Commission may also use these amounts to raise the federal share of other programs when it thinks that is appropriate.

Title 40, §14505

Public Buildings, Property, and Works, Source: USLM XML via OLRC

(a)Business Incubator Service.—

In this section, the term “business incubator service” means a professional or technical service necessary for the initiation and initial sustainment of the operations of a newly established business, including a service such as—

(1)a legal service, including aid in preparing a corporate charter, partnership agreement, or basic contract;

(2)a service in support of the protection of intellectual property through a patent, a trademark, or any other means;

(3)a service in support of the acquisition and use of advanced technology, including the use of Internet services and Web-based services; and

(4)consultation on strategic planning, marketing, or advertising.

(b)Projects To Be Assisted.—

The Appalachian Regional Commission may provide technical assistance, make grants, enter into contracts, or otherwise provide amounts to persons or entities in the region for projects—

(1)to support the advancement of, and provide, entrepreneurial training and education for youths, students, and businesspersons;

(2)to improve access to debt and equity capital by such means as facilitating the establishment of development venture capital funds;

(3)to aid communities in identifying, developing, and implementing development strategies for various sectors of the economy;

(4)to develop a working network of business incubators; and

(5)to support entities that provide business incubator services.

(c)Limitation on Available Amounts.—

Of the cost of any activity eligible for a grant under this section, not more than—

(1)50 percent may be provided from amounts appropriated to carry out this section;

(2)in the case of a project to be carried out in a county for which a distressed county designation is in effect under section 14526, 80 percent may be provided from amounts appropriated to carry out this section; or

(3)in the case of a project to be carried out in a county for which an at-risk county designation is in effect under section 14526, 70 percent may be provided from amounts appropriated to carry out this section.

(d)Sources of Assistance.—

Assistance under this section may be provided entirely from amounts made available to carry out this section, in combination with amounts made available under other federal programs, or from any other source.

(e)Federal Share.—

Notwithstanding any provision of law limiting the federal share under any other federal program, amounts made available to carry out this section may be used to increase that federal share, as the Commission decides is appropriate.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 14505(a)40 App.:204(a).Pub. L. 89–4, title II, § 204, as added Pub. L. 107–149, § 6, Mar. 12, 2002, 116 Stat. 68. 14505(b)40 App.:204(b). 14505(c)40 App.:204(d). 14505(d)40 App.:204(c)(1). 14505(e)40 App.:204(c)(2).

Editorial Notes

Amendments

2008—Subsec. (c). Pub. L. 110–371 added subsec. (c) and struck out heading and text of former subsec. (c). Text read as follows: “Not more than 50 percent (or 80 percent in the case of a project to be carried out in a county for which a distressed county designation is in effect under section 14526 of this title) of the cost of any activity eligible for a grant under this section may be provided from amounts appropriated to carry out this section.”

§14505 Entrepreneurship Initiative