(20 ILCS 700/3515)
Sec. 3515.
Modernization grants.
(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.
(Source: P.A. 91-476, eff. 8-11-99.)
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