Illinois Administrative Code
Title 14 - COMMERCE
Part 545 - TECHNOLOGY ADVANCEMENT AND DEVELOPMENT ACT PROGRAMS
Subpart E - DIRECT GRANT, INVESTMENT, AND LOAN APPLICATION PROCEDURES
Section 545.450 - Program Specific Criteria

Universal Citation: 14 IL Admin Code ยง 545.450

Current through Register Vol. 48, No. 52, December 27, 2024

a) Technology Challenge Grant Program - Pursuant to the requirements of Section 2003 of the Act, applications determined by the Department to be complete shall be forwarded to the Illinois Coalition for their review and evaluation.

1) The Illinois Coalition shall consider the following criteria in determining recommendations to the Department:
A) the relationship of a proposed advanced technology project to the State's future economic growth;

B) the potential for adapting, commercializing or adopting the results of the applicant's project for the economic benefit of the State; and

C) the likelihood that the project has a potential for creating new jobs or retaining current jobs in the State. [20 ILCS 700/2003(a)]

2) The Department shall consider the recommendations of the Illinois Coalition and the following criteria in determining grant awards:
A) the qualifications and expertise of consultants, firms or organizations undertaking the effort;

B) the potential for leveraging federal or private research dollars, or both, for the initiative; and

C) the extent of the capacity of the applicant or the applicant partnership or consortium to finance the initiative. [20 ILCS 700/2003(a)]

b) Illinois Technology Enterprise Development and Investment Program - The Department shall determine the viability of matching funds. Per Section 3004(a) of the Act, in determining if direct qualified security investments or loans are to be made, the Department shall find that:

1) there is a likelihood of commercial feasibility given the state of development of the proposed product, process, service, or technical device; and

2) that there is a likelihood of increased job opportunities in the near term as a result of the security investment.

c) Modernization Retooling Loan Program - Per Section 3004(b) of the Act, in determining if a loan is to be provided, the Department shall determine whether there will be an expected improvement in production levels, quality of output, or timeliness of delivery and that the number of jobs to be created or retained is reasonable in relation to the loan funds requested. The applicant shall also demonstrate that the project will involve the purchase of advanced technology and other expenditures integral to technological improvement. The applicant shall demonstrate that the project will have a public benefit of providing a net increase or net retention of jobs for Illinois citizens and the project will have a private benefit of improving productivity, effectiveness, or efficiency of the firm's production activities or will increase revenues or reduce expenses.

d) Modernization Grants Program - Per Section 3515(c) of the Act, the applicant shall demonstrate the level of expertise of the consultant or firm undertaking the competitiveness assessment or productivity improvement services. The applicant shall further demonstrate that the project will result in a substantial improvement in the applicant's operations and will result in the creation or retention of jobs.

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