Illinois § 605-328

§ 605-328.

Economic Development Matching Grants Program. (a) The Department, in its discretion, may establish a program of grants to be matched by economic development entities in the State to finance and promote local economic development. The Department is authorized to make grants, subject to appropriations by the General Assembly for this purpose, from the Economic Development Matching Grants Program Fund, a special fund created in the State treasury, to nonprofit organizations and local units of government whose primary objectives are to promote Illinois communities as sites for industrial and business location and expansion. The goal of the program is to enhance the marketing of Illinois by enabling regions and communities to market themselves and thereby attract new business and industry to the State and enhance the environment of growth for existing business and industry. (b) The applicant's proposed project must have a definable impact on business and industrial attraction, recruitment, or retention. Items eligible for funding consideration include, but are not limited to, specific, time-limited research studies related to industrial and business recruitment or retention, advertising and public relation expenses related to the applicant's proposed project, and production of printed materials and brochures, slide presentations and videotapes, and internet home pages for distribution to those involved in expansion or relocation activities. (c) In determining the recipients of the grants, consideration shall be given to the following factors: (1) Does the project demonstrate collaboration between more than one municipality, county, and region? (2) Does the project demonstrate substantial potential for economic return from an area outside the applicant's region and provide research measurement? (3) Does the project show creativity and good design qualities and appropriately target a specific market? (4) Does the project support the Department's economic development out-of-state marketing efforts? (5) Is the project a demonstrable part of a long-range marketing or strategic plan? (6) Are the projected costs for the project well-researched and reasonable? (d) State grant dollars shall be evenly matched by the applicant. (e) Moneys appropriated to the program of grants shall be deposited into the Economic Development Matching Grants Program Fund and shall not lapse into the General Revenue Fund at the end of a fiscal year. (f) The grants made under this Section shall be in addition to any other grant programs currently in place and administered by the Department. (g) The Department shall adopt rules to implement this program. (Source: P.A. 90-660, eff. 7-30-98; 91-239, eff. 1-1-00.)