Substitute Senate Bill No. 449

Public Act No. 00-153

An Act Providing Matching Grants For Businesses New To Exporting.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

(NEW) (a) The Commissioner of Economic and Community Development may provide cost sharing or matching grant moneys, with funds available through bond authorization pursuant to section 32-235 of the general statutes, to assist and promote economic clusters representing businesses that are new to exporting or organizations representing such businesses. For purposes of this section, "cost sharing or matching grant moneys" means all contributions, including cash and third party in-kind donations that are approved by the commissioner.

(b) Such cost sharing or matching grant moneys shall be available to a group of businesses or the organization representing such group, for the following purposes: (1) Recruiting and organizing of member businesses for the purpose of collaborating on ways in which the member business may export their products and services to other countries; (2) researching and identifying the foreign markets where there is a demand for their products and services; (3) designating agents for the purpose of accessing the services of federal, state, local, private and non-private export service providers; and (4) identifying and contracting with foreign representatives in the identified markets to promote and sell the products and services of the member businesses.

(c) A group receiving grants shall provide the commissioner with information concerning goals, methodology, budget and program results. Such information shall be provided in a form and manner prescribed by the commissioner.

Approved May 26, 2000