The bill proposes the enactment of section 122.162 of the Revised Code to establish the Manufacturing Technologies Assistance Grant Program, aimed at enhancing the productivity, efficiency, and competitiveness of manufacturing operations in Ohio. The program will allow eligible manufacturers to apply for grants to fund projects that integrate manufacturing technologies and invest in industrial infrastructure. To qualify, manufacturers must meet specific criteria, including operating in Ohio for at least three years, deriving a majority of their revenue from manufactured goods, and demonstrating the ability to provide matching funds. The bill outlines the definitions of eligible projects, manufacturers, and expenses, as well as the application process and requirements for grant recipients.

Additionally, the bill allocates $24 million from the General Revenue Fund to the newly created Manufacturing Technologies Assistance Fund, which will be used to administer the program. The director of development will oversee the grant application process, ensuring a competitive review that prioritizes projects based on various criteria, including the percentage of revenue from manufactured goods and the urgency of project initiation. The total grant amount awarded to any manufacturer will not exceed $150,000, and strict record-keeping and reporting requirements are established for grant recipients to ensure accountability and compliance with the program's guidelines.