La. Admin. Code tit. 13 § V-203
Applicant- the company or business entity, that pursuant to applicable Louisiana law, is duly authorized to do business in Louisiana and is in good standing as certified by the office of the Louisiana Secretary of State and/or any public entity requesting financial assistance from the state under this program that represents the set of circumstances through which funding may be applicable under these rules.
Award-funding of financial assistance, which may include a performance-based grant, loan, and/or loan guaranty, for eligible applicants under this program.
Award Agreement-the agreement or contract hereinafter referred to between the company and/or the public entity, and LED through which, by cooperative endeavor agreement, loan guaranty agreement, or otherwise, the parties set forth the amount of the grant, loan or loan guaranty award, the terms, conditions and performance objectives of the award provided pursuant to these rules.
Company- a company or other business entity, duly authorized to do business in Louisiana and in good standing as certified by the Louisiana Secretary of State, that pursuant to these rules may be eligible to seek the funding of a project under this program.
Default-the failure to perform a task, to fulfill an obligation, or to do what is required; the failure to create new jobs or the number of new jobs as agreed, to employ or to retain the employment of the number of employees as agreed, or to maintain the compensation or payroll levels as agreed; the failure to pay or to repay the loan or interest due thereon as agreed; or the failure to meet a financial obligation.
Department-the Louisiana Department of Economic Development.
Economic Development Project- the undertaking for which an award is granted, under the circumstances presented, that provides the opportunity for immediate funding of a project or portion of a project that will serve to finalize the commitment of a business entity for the creation and/or retention of jobs in Louisiana.
Jobs-refers to permanent full-time jobs, being 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. Also includes the term permanent full-time equivalent jobs.
LED-the Louisiana Department of Economic Development.
Program- the Governor's Economic Development Rapid Response Program that is undertaken and administered, overseen or supervised by LED, pursuant to these rules and an award agreement with the applicant after becoming an award recipient that serves the purposes of obtaining or retaining an Economic Development Project.
Project- economic activity that, in whole or in part, as determined appropriate by the Secretary of Economic Development and the governor of Louisiana, will result in the creation and/or retention of jobs and for which assistance is requested under this program as a decisive influence in the decision of an entity to locate in Louisiana, maintain or expand its Louisiana operations, or increase its capital investment in Louisiana in such a manner that will create and/or retain jobs.
Public Entity-the public or quasi-public entity that:
a. pursuant to these rules, may be eligible to seek funding, through a grant, a loan or a loan guaranty, for a project; or
b. that may, with a company, apply for funding through a grant, a loan or a loan guaranty pursuant to these rules; or
c. that, pursuant to the request of LED, may be responsible for engaging in the award agreement and thereby responsible for the performance and oversight of the project and for supervising with LED the company's compliance with the terms, conditions and performance objectives of the award agreement.
Secretary- the Secretary of the Louisiana Department of Economic Development.
La. Admin. Code tit. 13, § V-203