Sec. 5. (a) The purpose of the program is to assist the local economic development organizations that serve economically disadvantaged areas in the recruitment of new businesses.
(b) The corporation must find that an applicant for a grant under this chapter serves an economically disadvantaged area before approving the grant application.
(c) The corporation may provide a grant under the program to an organization to assist the organization in recruiting new business enterprises to the county or counties served by the organization. The grant may not be used by the organization to pay expenses for which the organization has received a grant under IC 5-28-11 (before its repeal).
(d) A grant under this chapter may not be used by the organization to provide direct financial assistance to a business or specific development project.
As added by P.L.35-2009, SEC.1. Amended by P.L.145-2016, SEC.8.