The term “industry cluster” means a broadly defined network of interconnected firms and supporting institutions in related industries that accelerate innovation, business formation, and job creation by taking advantage of assets and strengths of a region in the business environment.
The term “high-wage job” means a job that provides a wage that is greater than the median wage for the applicable region, as determined by the Secretary.
The Federal share of the cost of any activity carried out using a grant made under paragraph (1) shall be not greater than 80 percent.
The Secretary may extend the term of a grant under paragraph (1) for an additional period of not longer than 2 years if the Secretary is satisfied, using the evaluation under subsection (e)(2), that the grant recipient has successfully established a jobs accelerator and related programming.
Subject to subparagraph (B), not more than 10 percent of a grant awarded under subsection (b) shall be used for indirect costs associated with administering the grant.
There is authorized to be appropriated to carry out this section $10,000,000 for each of fiscal years 2019 through 2023.