Targeted at rural areas: The RCIF is specifically designed to benefit rural communities with populations generally under 25,000.
Focus on public infrastructure and real estate: Eligible activities are primarily focused on public infrastructure, utilities, land acquisition, and construction/renovation of buildings for business use.
Job creation/retention requirement: All funded projects must document job creation or retention within two years of project completion.
Grant amounts: Grants range from $50,000 to $500,000, with a total annual program budget of $400,000.
Complex application process: The application process is extensive, requiring significant documentation, public hearings, and approvals.
Economic Advisory Council involvement: Applications are reviewed by Commerce staff and the Economic Advisory Council (EAC).
Matching funds requirement: While not a set percentage, local match is necessary to be competitive.
Environmental review: Applicants must complete an environmental scoping form to identify potential environmental impacts.
Detailed project planning: Applicants must provide comprehensive project descriptions, budgets, and schedules.
Job quality considerations: The application process evaluates not just job numbers, but also job quality, wages, and benefits.
Company commitment: Requires either a formal job creation agreement or a commitment letter from the assisted business.
Long-term focus: Evaluation includes consideration of long-term program benefits and community impacts.
Clawback provision: The program includes a provision for businesses to repay funds if job creation goals are not met.
Extensive reporting and monitoring: Requires detailed recordkeeping and allows for monitoring by government officials.
Lack of specific job creation requirements: The program documentation does not provide clear minimum job creation numbers or formulas, raising concerns about transparency and accountability.
Potential for subjective evaluation: The absence of clear job creation metrics allows for potentially inconsistent application of the program across different projects.
Limited public disclosure: As evidenced by the Idaho Strategic Resources press release, specific job creation numbers are not always disclosed, even when projects are funded.