Sec. 3515. Modernization grants.

246 words·~1 min read·/il/chapter-20/act-700/3515

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(a)Subject to available appropriated funds, modernization grants may be made for the purpose of financing, competitive assessments, or productivity improvement services that the Department determines may result in technology enhancement, retooling, restructuring, or other competitiveness improvements. Grants may be made to, or on behalf of, Illinois' mature, small, or medium-sized businesses for

(i)undertaking feasibility studies, competitiveness assessments, and productivity audits to restore their businesses' competitiveness or

(ii)the modernization and installation of advanced manufacturing systems or processes that will improve the businesses' production systems and work organization, or will preserve and create private sector jobs by increasing the firms' long-term competitive viability.

(b)Assistance authorized under this Section may be in the form of direct grant agreements, agreements with private sector consultants on behalf of a firm, or agreements with participating intermediary organizations as authorized under Article 1.

(c)In determining the amount of a modernization grant, the Department shall:

(i)examine the level of expertise of the consultant or firm undertaking the competitiveness assessment or productivity improvement services;

(ii)evaluate the likelihood of an applicant's proposed competitiveness assessment or productivity improvement services resulting in a substantial improvement in the applicant's operations; and

(iii)determine whether improvement will result in the creation or retention of jobs. Modernization grants to eligible applicants shall not exceed $100,000 or 50% of the project costs, unless the Director determines that a waiver of these limits is required to meet the purposes of this Act.