2784-S AMH UPTH TAYL 026

SHB 2784 - H AMD

By Representative Upthegrove

   On page 2, after line 29, insert the following:

   "(4) The department of community, trade and economic development will provide assistance, up to a maximum of two hundred fifty thousand dollars, to one eligible small business incubator organization for the completion of a feasibility study and economic analysis for the creation of a center for advanced manufacturing. In order to receive the grant money, the eligible small business incubator organization must show that it has the resources to complete the feasibility study and the economic analysis in a timely manner and the state grant is not the sole source of funds.

   (5) For the purposes of subsection (4) of this section, an eligible small business incubator must be:

    (a)(i) Designated as a nonprofit organization under section 501(c)(3) of the internal revenue code, or (ii) a partnership between a designated nonprofit organization under section 501(c)(3) of the internal revenue code and a government or quasi-government agency; and

   (b) Focused on developing or supporting small, medium, and large manufacturing businesses;

   (c) Structured around a sound business plan; and

   (d) Compliant with the standards developed by the department of community, trade and economic development and included in the application."

EFFECT: Requires the Department of Community, Trade and Economic Development to contract out a feasibility study and economic analysis of an advanced manufacturing center to an eligible small business incubator.