§ 42-64.29-4. Competitive program grants. (a) Competitive program grants of one hundred thousand dollars ($100,000) to five hundred thousand dollars ($500,000) shall be made available to support activities to overcome identified cluster gaps and documented constraints on cluster growth or to improve clusters' effectiveness. The commerce corporation shall establish, by regulation, both (1) the criteria for issuing competitive program grants under this section; and (2) a process for receiving and reviewing applications for grants under this section. The criteria that the commerce corporation establishes to evaluate applications for grants under this section shall include objective evidence of the entity's organizational capacity, degree of internal acceptance of the proposed program, economic rationale for the proposed activity to be funded and the entity's ability to raise future funds to sustain the activity when the grant has been expended.
(b) The commerce corporation shall have no obligation to make any award or grant any benefits under this chapter.
History of Section. (P.L. 2015, ch. 141, art. 19, § 12.)
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