Ohio House Bill HB435

Ohio 2023-2024 Regular Session

• Introduced: 2/27/24

Caption

Create the manufacturing technologies assistance grant program

Impact

The implementation of this grant program will have significant implications for state laws regarding economic development and manufacturing regulation. It proposes a structured approach to support small to medium-sized manufacturers, particularly those employing up to 500 individuals. The legislation prescribes standards for eligibility, including the requirement of matching funds from private sources and adherence to various compliance regulations. By establishing a dedicated fund for this purpose, the bill marks a focused investment in the enhancement of Ohio’s manufacturing capabilities and infrastructure.

Summary

House Bill 435 seeks to establish the manufacturing technologies assistance grant program within the state of Ohio. This program will provide financial assistance to eligible manufacturers to help them adopt and integrate new manufacturing technologies. The grants can be utilized for projects aimed at increasing productivity, efficiency, and competitiveness of manufacturing operations, fostering innovation and modernization in the state’s manufacturing sector. This initiative comes as a strategic effort to bolster the local economy by providing the necessary support for manufacturers to stay competitive in a rapidly evolving industry.

Contention

However, there may be concerns regarding the allocation of funds and the criteria for grant approval, particularly the disparity in support between small manufacturers and larger enterprises. While the bill reserves funds specifically for manufacturers with fifty or fewer employees, the potential reallocation of these funds could lead to contention among different manufacturers vying for support. The requirement for grantees to maintain detailed records of expenditures and the stringent definitions of eligible expenses may also present challenges for smaller manufacturers attempting to navigate the application process.