High-Tech Industrial Expansion Program

Application Period Open – March 17, 2014
Application Deadline – April 18, 2014
Investment Committee meeting – May 16, 2014 (tentative)  
Final Approval – June 27, 2014 (tentative)

To promote MTC’s vision of transforming Missouri through the power of entrepreneurship and technology-based innovation, MTC supports industrial expansion efforts in Missouri that result in significant capital investment and high-paying jobs in its targeted biotech and high-tech clusters with an emphasis on those that leverage Missouri’s rich agricultural history.  This strategy supports communities throughout the State by adding “strength to Missouri muscle” and accelerates our ability to attract private capital and create innovation hubs that foster entrepreneurship.  Through the High-Tech Industrial Expansion (HTIE) program, MTC makes investments that can be used to purchase equipment, facilitate construction, and hire key personnel.

Program Goals
The High-Tech Industrial Expansion program seeks to achieve the following goals in Missouri:

  • Accelerate the growth of companies and significantly expand MTC’s targeted bioscience and high-tech clusters with an emphasis on those that leverage Missouri’s rich agricultural history;
  • Accelerate private capital investment; and
  • Create and retain sustainable high-paying, private sector jobs.

Eligible Applicants
A Missouri-based company (or company expanding or relocating operations to Missouri) that can demonstrate a likelihood to achieve the following outcomes in Missouri:

  • Increase research and capital investment;
  • Strengthen one or more of MTC’s targeted high-tech clusters;
  • Create a successful research or intellectual property licensing relationship with a Missouri-based university or similar research institution or establish an internship program to provide career opportunities for high school and/or college students; and
  • Create and retain sustainable high-paying, private sector jobs.

 In addition, the company must meet the following minimum requirements:

  • Have an actual, conditional, or anticipated third-party funding commitment that (i) equals at least 100 of the total requested HTIE funds; and (ii) will be contributed to the project in connection with the HTIE funding.
  • Has less than 500 existing employees; and
  • Will not use the Missouri High-Tech Industrial Expansion funding for any prohibited purpose as set forth in the program application or by the U.S. Department of Treasury;

 Evaluation Criteria
The submissions by Eligible Applicants will be evaluated based on dimensions of the quality of the submission and a demonstrated likelihood to achieve the following outcomes in Missouri:

  • Increase research and capital investment;
  • Leverage MTC’s investment with private capital;
  • Strengthen one or more of MTC’s targeted high-tech bioscience clusters with an emphasis on those that leverage Missouri’s rich agricultural history;
  • Create a successful research or intellectual property licensing relationship with a Missouri-based university or similar research institution or establish an internship program to provide career opportunities for high school and/or college students; and
  • Create and retain sustainable high-paying, private sector jobs.

Funding Available
The amount of requested funds should be specifically and narrowly tailored to the plan outlined in the application submitted to MTC, but individual awards will not exceed $3,000,000.  Accordingly, it is not expected that each applicant will request the maximum amount of funds that may be awarded under this program.  Awards are typically in the form of a secured low-interest loan.

Application

 

MTC IDEA High-Tech Industrial Expansion Program Application
MTC IDEA Program Budget Form
MTC IDEA Participation Agreement (Non-convertible Debt)