Sec. 5. Arts-focused economic development
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Title II of the Public Works and Economic Development Act of 1965 ( 42 U.S.C. 3141 et seq. ) is amended by adding at the end the following: In this section: The term business incubation program means a program that— accelerates the successful development of entrepreneurial businesses through business support resources and services, developed or orchestrated by incubator management; is designed to produce successful businesses; and provides management guidance, technical assistance, and consulting designed for young, growing businesses, including by providing— rental space and flexible leases; shared basic business services and equipment; technology support services; and assistance in obtaining financing necessary for growth of the business.
The term incubator means a multitenant facility with on-site management that directs a business incubation program. In providing grants and assistance under this Act (including through the local technical assistance, partnership planning, and comprehensive economic development strategies programs of the Economic Development Administration), the Secretary shall provide to State, regional, and local arts agencies, artists, and creative workers support through traditional economic development tools, including— incubators; and economic development planning and technical assistance, including assistance for State, regional, and local arts agencies in work related to comprehensive economic development strategies. .
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Sec. 5
Arts-focused economic development
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