The bill proposes the establishment of a new manufacturing technologies assistance grant program under section 122.162 of the Revised Code. This program aims to support eligible manufacturers in Ohio by providing grants to fund projects that enhance productivity, efficiency, and competitiveness through the adoption of advanced manufacturing technologies and investment in industrial infrastructure. To qualify for the program, manufacturers must meet specific criteria, including operating in Ohio for at least three years, deriving a significant portion of their revenue from manufactured goods, and demonstrating the ability to provide matching funds. The bill outlines the application process, eligibility requirements, and the types of expenses that can be funded, while also specifying ineligible expenses.

Additionally, the bill allocates $24 million from the General Revenue Fund to the newly created Manufacturing Technologies Assistance Fund to support the program's implementation. The director of development will oversee the grant process, including the assessment of applications and the distribution of funds. The program is designed to prioritize projects that show a clear potential for increasing productivity and competitiveness, with a competitive scoring system in place for applications. The bill also mandates that recipients maintain detailed records of expenditures and submit reports on project implementation, ensuring accountability and transparency in the use of grant funds.