- A. Terms not otherwise defined in this Chapter shall have the same meaning given to them in R.S. 51:2402, unless the context clearly requires otherwise.
B. In this Chapter, the following terms shall have the meanings provided herein, unless the context clearly indicates otherwise.
- Applicant—a person requesting a grant award from LED under this program.
- Business Operations—the location where significant administrative or managerial activities of a business are conducted and research and development work is performed.
- Department—Louisiana Department of Economic Development.
- Federal Notice of Award—a document issued by a federal agency evidencing approval of a Phase II SBIR or Phase II STTR application, including but not limited to amount of funding awarded, agreement number and topic number.
- LED—Louisiana Department of Economic Development.
- LED Grant Letter—a letter issued by LED to a person for a particular calendar year, setting forth the amount, terms and conditions of the grant.
- Out of State Small Business—a business domiciled outside of Louisiana that qualifies as a small business according to the United States Small Business Administration’s size standards.
- Person—any natural person or legal entity including an individual, corporation, partnership, or limited liability company.
- REAL—Regional Economic Alliance of Louisiana.
- Recruitment Fund—Small Business Innovation Recruitment Fund.
- Relocate—relocate business operations from an out of state location to Louisiana. The company shall be required to maintain a physical location in this state, be licensed to conduct business in this state and shall be required to file a Louisiana income tax return.
- Secretary—Secretary of the Louisiana Department of Economic Development.
Authority Note
AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104 and 51:2402.
Historical Note
HISTORICAL NOTE: Promulgated by the Department of Economic Development, Office of the Secretary, LR 49:1032 (June 2023).