La. Admin. Code tit. 13 § III-113

Current through Register Vol. 50, No. 11, November 20, 2024

Section III-113 - Submission and Review Procedure for Projects

A. Applicants must submit their completed application to LED or to LEDC. Submitted applications will be reviewed and evaluated by the staff of LED or LEDC. Input may be required from the applicant, other divisions of the Department of Economic Development, LEDC, and other state agencies as needed in order to:

1. evaluate the strategic importance of the project to the economic well-being of the state and local communities;

2. validate the information presented; and/or

3. determine the overall feasibility of the company's plan.

B. An economic cost-benefit analysis of the project, including an analysis of the direct and indirect net economic impact and fiscal benefits to the state and local communities, will be prepared and utilized by the LED or LEDC staff.

C. Upon determination that an application meets the general principles of § 105, the eligibility requirements under §107, and the criteria provided for this program under § 109, the secretary of LED and/or the staff of LED or LEDC will then make recommendations to the LEDC Board of Directors. The application will then be reviewed and approved or rejected by the LEDC board in its discretion, after considering the recommendations of the secretary of LED and/or the staff of LED or LEDC. The LED director or the targeted industry specialist in whose industrial area the applicant company participates may also make recommendations to the LEDC board as to the approval or disapproval of the award.

La. Admin. Code tit. 13, § III-113

Promulgated by the Department of Economic Development, Economic Development Corporation, LR 23:38 (January 1997), amended by the Department of Economic Development, Office of the Secretary, LR 23:1639 (December 1997), LR 25:238 (February 1999), LR 26:237 (February 2000), amended by the Department of Economic Development, Office of Business Development, Louisiana Economic Development Corporation, LR 29:863 (June 2003), LR 31:904 (April 2005), LR 35:873 (May 2009), amended by the Department of Economic Development, Office of the Secretary, Office of Business Development and the Louisiana Economic Development Corporation, LR 40:269 (February 2014).

AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104, 36:108, 51:2302, 51:2312, and 51:2341 et seq.