§ 9-12-1405 — Wyoming research and innovation program fund created; authorized expenditures from the fund; rulemaking

Wyoming § 9-12-1405

• Jurisdiction: Wyoming
• Title 09: Administration of the Government
• Ch. 12: WYOMING ECONOMIC DEVELOPMENT ACT
• Art. 14: ECONOMICALLY NEEDED DIVERSITY OPTIONS FOR WYOMING

Text

(a) The council shall administer a Wyoming research and
innovation program under which matching funds necessary to
access federal research and development grant funds or other
nonstate funds may be provided as specified in this section. To
be eligible to receive funding under the program an entity shall
present to the council its proposal to apply for or an existing
application for an externally funded grant specific to a
priority economic sector identified in the approved twenty (20)
year comprehensive economic diversification strategy under W.S.
9-12-1402(a)(iv). The entity shall demonstrate that further
research funding from nonstate funds is likely to be provided if
funding is provided under this section.
(b) The Wyoming business council, in consultation with the
ENDOW executive council and the University of Wyoming shall
promulgate rules necessary to carry out the provisions of this
section. The rules shall include but not be limited to
application procedures, eligibility requirements, the amount of
funding which may be provided for any single project, provision
for ensuring adequate consideration to the state in exchange for
funding any project which does not solely involve a state agency
or institution or political subdivision of the state, recapture
of funding if the recipient of funds breaches any agreement
under the program and prioritization for funding requests. In
establishing provisions for adequate consideration to the state,
the council may include, but is not limited to, assessment of
the following:
(i) The potential for the creation of a high-growth
company and number of new jobs created;
(ii) The amount of nonstate or private financing
leveraged to be used by the business in Wyoming;
(iii) Potential increase in Wyoming based patents;
(iv) Increase in Wyoming higher education
institutions' capacity to respond to new research developments.