Sec. 1. As used in this chapter, “economically disadvantaged area” means a county that has an unemployment rate exceeding the state unemployment rate by at least two percent (2%). As added by P.L.35-2009, SEC.1.
Sec. 2. As used in this chapter, “local economic development organization” (referred to as “organization”) includes the following: (1) An urban enterprise association established under IC 5-28-15 (or IC 4-4-6.1 before its repeal). (2) An economic development commission established under IC 36-7-12. (3) A nonprofit corporation established under state law whose primary purpose is the […]
Sec. 3. As used in this chapter, “program” refers to the new business recruitment grant program established by section 4 of this chapter. As added by P.L.35-2009, SEC.1.
Sec. 4. (a) The new business recruitment grant program is established. (b) The program is administered by the corporation. As added by P.L.35-2009, SEC.1.
Sec. 5. (a) The purpose of the program is to assist the local economic development organizations that serve economically disadvantaged areas in the recruitment of new businesses. (b) The corporation must find that an applicant for a grant under this chapter serves an economically disadvantaged area before approving the grant application. (c) The corporation may […]
Sec. 6. A grant under this chapter may not exceed: (1) fifty thousand dollars ($50,000), in the case of a grant to an organization that serves only one (1) county; or (2) seventy-five thousand dollars ($75,000), in the case of a grant to an organization that serves at least two (2) counties. As added by […]
Sec. 7. The corporation may adopt policies and guidelines governing application criteria and procedures for organizations applying for grants under this chapter. As added by P.L.35-2009, SEC.1.
Sec. 8. Money appropriated for the program may be used for the costs of administering this chapter. As added by P.L.35-2009, SEC.1.
Sec. 9. (a) The local economic development organization recruitment fund is established within the state treasury as a dedicated fund. Money in the fund must be spent by the corporation exclusively for grants and other purposes described in this chapter. (b) The fund consists of: (1) appropriations from the general assembly; (2) interest deposited into […]
