(a)There is established the Research in Illinois to Spur Economic Recovery (RISE) program to be administered by the Department for the purpose of responding to the negative economic impacts of the COVID-19 public health emergency by spurring strategic economic growth and recovery in distressed industries and regions.
(b)The RISE Program shall provide for:
(1)Statewide post-COVID-19 research and planning. The Department shall conduct research on post-COVID-19 trends in key industries of focus for Illinois impacted by the COVID-19 public health emergency. The Department will complete an assessment of regional economies within the state with the goal of answering:
(A)How have prominent industries in each region of Illinois been impacted by COVID-19? (B) Where in Illinois are the key asset
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(a) There is established the Research in Illinois to Spur Economic Recovery (RISE) program to be administered by the Department for the purpose of responding to the negative economic impacts of the COVID-19 public health emergency by spurring strategic economic growth and recovery in distressed industries and regions. (b) The RISE Program shall provide for: (1) Statewide post-COVID-19 research and planning. The Department shall conduct research on post-COVID-19 trends in key industries of focus for Illinois impacted by the COVID-19 public health emergency. The Department will complete an assessment of regional economies within the state with the goal of answering: (A) How have prominent industries in each region of Illinois been impacted by COVID-19? (B) Where in Illinois are the key assets to leverage for investment? (C) What is the status of existing regional planning efforts throughout the state? (D) What regional infrastructure investments might spur new economic development? (E) What are the needs in terms of access to capital, business attraction, and community cooperation that need more investment? (2) Support for regional and local planning, primarily in economically distressed areas. The RISE Program will fund grants to local governmental units and regional economic development organizations to update outdated economic plans or prepare new ones to improve alignment with a statewide COVID-19 economic recovery. Grants will be prioritized for research in regions and localities which are most economically distressed, as determined by the Department. (3) Support statewide and regional efforts to improve the efficacy of economic relief programs. Adding to the research and planning effort, contracts, grants, and awards may be released to support efficacy review efforts of existing or proposed economic relief programs at the state and regional level. This includes conducting data analysis, targeted consumer outreach, and research improvements to data or technology infrastructure. (4) RISE implementation grants. The Department will prioritize grantmaking to establish initiatives, launch pilot projects, or make capital investments that are identified through research and planning efforts undertaken pursuant to paragraphs (1) through (3). Implementation efforts may also include investment in quality of life amenities and strategic national/international outreach to increase available workforce in areas of need. (c) The RISE Program may leverage funds from lump sum appropriations with an aligning purpose and funds appropriated specifically for the RISE Program. Expenditures from an appropriation of funds from the State CURE Fund shall be for purposes permitted by Section 9901 of the American Rescue Plan Act of 2021 and all related federal guidance.