To amend sections 184.19 and 184.191 and to enact sections 122.09, 122.091, 122.092, 122.093, 122.094, and 122.095 of the Revised Code to create the Edison Jobs Development Program within the Department of Development and to make an appropriation.

Section 1. That sections 184.19 and 184.191 be amended and sections 122.09, 122.091, 122.092, 122.093, 122.094, and 122.095 of the Revised Code be enacted to read as follows:

Sec. 122.09.  (A) As used in sections 122.09 to 122.095 of the Revised Code:

(1) "Edison center" means a cooperative research and development facility that receives funding through the Thomas Alva Edison grant program under division (C) of section 122.33 of the Revised Code.

(2) "Technologies or markets of interest" includes advanced materials, manufacturing, bioscience, advanced energy, food technology, aerospace, automotive, medical products and devices, and instruments, controls, and electronics.

(B) There is hereby created the Edison jobs development program to support Ohio companies in making a transition to, or expanding their presence in, technologies or markets of interest identified by the department of development for the purpose of creating or retaining jobs in this state. The department shall administer the program in accordance with sections 122.09 to 122.095 of the Revised Code. Under the program, eligible companies may apply to the department for monetary assistance to be used for product development, product testing or certification, process improvement, workforce training, new market or new industry transitioning, or existing market expansion.

(C) To qualify for assistance under the program, a company shall meet the following requirements:

(1) The company is a manufacturing company based in Ohio.

(2) The company is seeking to convert its current manufacturing capabilities to produce products or provide services in a technology or market of interest identified by the department.

(3) The company attends an outreach seminar as required by section 122.091 of the Revised Code.

(4) The company is able to match the amount of the grant offered pursuant to the program.

Sec. 122.091.  To participate in the Edison jobs development program, a company shall first attend an outreach seminar offered by the department of development in conjunction with the appropriate Edison centers. The seminars shall include presentations from industry experts that are designed to educate attendees about opportunities in technologies or markets of interest; what factors must be taken into consideration when making the decision, such as business plan development, retooling or purchasing equipment, retraining workers, gaining regulatory approval to enter certain markets, and marketing and distribution strategies; and how to proceed through the process. Seminars shall be held at least monthly and in various regions of the state.

Sec. 122.092.  (A) The department of development shall provide an application form to each company that attends an outreach seminar. The application form shall be prescribed by the director of development, in consultation with the appropriate Edison centers, and shall, at a minimum, require information regarding all of the following:

(1) The current financial condition of the company;

(2) Company leadership commitment to the creation or retention of jobs;

(3) Company manufacturing capabilities and current capacity;

(4) Unique capabilities and experiences of the company;

(5) Condition and layout of the company's facilities;

(6) General company management of new opportunities.

(B) The department, in conjunction with the appropriate Edison centers, shall review each submitted application to determine grant eligibility and amount based on the company's potential and current readiness. As part of the grant eligibility assessment, the department and centers may hold discussions with individual applicants or make site visits to explore their applications further.

(C) The department shall notify each company that has been selected for a grant. A grant awarded under the Edison jobs development program shall be at least ten thousand dollars but not more than one hundred thousand dollars. The company shall be required to match the amount of the grant dollar for dollar.

Sec. 122.093.  Each company that is awarded a grant under the Edison jobs development program shall receive high quality training and consulting services financed with the grant and the company match. All such services shall be provided by industry experts or contractors selected and managed by the appropriate Edison centers. The centers shall consult with each grant recipient to design a comprehensive program of services that best serves the needs of that particular company. They shall also assemble and make available to each company information as to the availability of any other financial assistance offered by the state for which the company may qualify.

Sec. 122.094.  The department of development may contract with the appropriate Edison centers to facilitate the management of the Edison jobs development program, including with respect to grant administration and the collection and distribution of funds from the state and each company match. During the period in which a company is receiving assistance under the program, the centers shall monitor the progress of the company with respect to jobs created or retained, cost savings achieved, or increased company revenue or capital investment and, on at least a quarterly basis, submit their findings to the department. The centers shall also be responsible for ensuring that companies comply with all grant requirements.

Sec. 122.095.  The director of development shall, in accordance with Chapter 119. of the Revised Code, adopt any rules necessary for the implementation of the Edison jobs development program.

Sec. 184.19.  The third frontier research and development fund is hereby created in the state treasury. The fund shall consist of the net proceeds of the obligations issued and sold by the issuing authority pursuant to sections 151.01 and 151.10 of the Revised Code. Investment earnings of the fund shall be credited to the fund. Moneys in the fund shall be used in accordance with sections 122.09 to 122.095 and sections 184.10 to 184.18 and 184.20 of the Revised Code and for associated administrative expenses.

Sec. 184.191.  The third frontier research and development taxable bond fund is hereby created in the state treasury. The fund shall consist of the net proceeds of federally taxable obligations issued and sold by the issuing authority pursuant to sections 151.01 and 151.10 of the Revised Code. Investment earnings of the fund shall be credited to the fund. Moneys in the fund shall be used in accordance with sections 122.09 to 122.095 and sections 184.10 to 184.18 and 184.20 of the Revised Code and for associated administrative expenses.

Section 2.  That existing sections 184.19 and 184.191 of the Revised Code are hereby repealed.

Section 3. All items in this section are hereby appropriated as designated out of any moneys in the state treasury to the credit of the Third Frontier Research and Development Fund Group. For all appropriations made in this act, those in the first column are for fiscal year 2012 and those in the second column are for fiscal year 2013. The appropriations made in this act are in addition to any other appropriations made for the FY 2012-FY 2013 biennium.

Appropriations

Third Frontier Research and Development Fund Group

EDISON JOBS DEVELOPMENT PROGRAM

The foregoing appropriation item 195687, Third Frontier Research & Development Projects, shall be used to fund the Edison Jobs Development Program created in section 122.09 of the Revised Code.

Within the limits set forth in this act, the Director of Budget and Management shall establish accounts indicating the source and amount of funds for each appropriation made in this act, and shall determine the form and manner in which appropriation accounts shall be maintained. Expenditures from appropriations contained in this act shall be accounted for as though made in the main operating appropriations act of the 129th General Assembly.

The appropriations made in this act are subject to all provisions of the main operating appropriations act of the 129th General Assembly that are generally applicable to such appropriations.

Section 4. Sections 1, 2, 3, and 4 of this act are not subject to the referendum under Ohio Constitution, Article II, Section 1d, and section 1.471 of the Revised Code, and therefore those sections take effect immediately when this act becomes law.