La. Admin. Code tit. 13 § I-4705
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-4705 - Eligibility Requirements; Invitation to Participate; ApplicationA. At the invitation of the secretary or a local governmental entity of a participating parish, a business may apply for participation in the program by submitting certified statements and substantiating documents as required by LED.B. The secretary or a local governmental entity of a participating parish may invite a business to participate in the program, upon the secretary's determination that the business meets all of the following criteria:1. at least 50 percent of the total annual sales of the business from its Louisiana site or sites is to out-of-state customers or buyers, or to in-state customers or buyers who resell the product or service to an out-of-state customer or buyer for ultimate use, or to the federal government, or any combination thereof;2. the business will primarily engage in one of the following activities at the project site: a. corporate headquarters;b. distribution facilities;d. research and development operations; ore. digital media and software development centers; and3. the business shall make capital expenditures of at least $25,000,000 for the facility and create and maintain at least 50 new direct jobs during the contract period;4. except for a business providing at least 50 new headquarters jobs or shared service center jobs, a business primarily engaged in the following types of businesses shall not be eligible for participation in the program:c. professional services;d. natural resource extraction or exploration;e. financial services; orf. venture capital funds;5. no business engaged in gaming or gambling operations shall be eligible for participation in this program.La. Admin. Code tit. 13, § I-4705
Promulgated by the Department of Economic Development, Office of Business Development, LR 39:1420 (June 2013).AUTHORITY NOTE: Promulgated in accordance with R.S. 47:4351, et seq.