La. Admin. Code tit. 13 § III-303
Applicant-the business entity or company authorized to do business in Louisiana requesting a training award from LED and LEDC under this program.
Award-funding of financial assistance, including performance-based grants, approved under this program for eligible training activities.
Award Agreement-that agreement or contract hereinafter referred to between the company, LED and LEDC through which, by cooperative endeavor agreement or otherwise, the parties set forth the amount of the award, the terms, conditions and performance objectives of the award provided pursuant to these rules.
Company-the business enterprise undertaking the workforce training project, and the successful applicant receiving or granted an award under this program.
Contract-a legally enforceable Award Agreement between LED, LEDC and the successful applicant or company governing the terms and the conditions of the training award.
Employee-a Louisiana resident hired by a company for permanent full-time employment.
Jobs-refers to permanent full-time jobs, direct jobs which are not contract jobs, that are permanent and not temporary in nature, requiring employees to work an average of 30 or more hours per week. This term also includes the term permanent full-time equivalent jobs.
LED-the Louisiana Department of Economic Development.
LEDC-the Louisiana Economic Development Corporation.
LEDC Board-the Board of Directors of the Louisiana Economic Development Corporation.
Net Benefit Return to the State-the determination of whether or not the value to the state is equal to or exceeds the amount of the award to the company.
Percentage of Achieved Performance Objectives as Provided in the Contract-an average of that portion achieved by the company of the permanent full-time jobs created or upgraded, and that portion achieved by the company of the annual salary levels to be reached, as provided in the contract. The two portions are to be added together, and the total figure is then divided by two, in order to yield the average percentage.
Permanent Full-Time Jobs-refers to direct jobs which are not contract jobs, that are permanent and not temporary in nature, requiring employees to work an average of 30 or more hours per week. This term also includes the term permanent full-time equivalent jobs.
Preference-the discretionary granting of an advantage or priority to one applicant or application over others; allows extra consideration to be given to one applicant or application over others, with regard to the availability of funding.
Program-the Workforce Development and Training Program.
Project-the workforce training endeavor that will enhance the qualifications and productivity of a company's workforce, its employees and prospective employees, for which LED and LEDC assistance is requested under this program as an incentive to influence a company's decision to locate, maintain or expand its operations in Louisiana, to increase its capital investment in Louisiana, to locate a facility in this state, and/or to employ residents of this state.
Secretary-the Secretary of the Louisiana Department of Economic Development, who is, by law, also the President of the Louisiana Economic Development Corporation.
La. Admin. Code tit. 13, § III-303