La. Admin. Code tit. 13 § I-1305

Current through Register Vol. 50, No. 12, December 20, 2024

Section I-1305 - Qualifications

A. To qualify for the Louisiana Biomedical Research and Development Park Program tax incentives an applicant must be a medical concern as defined in this rule, must provide documentation evidencing its location in the park area, as described in R.S. 46:813.A, and must demonstrate, by written statement, its viability and ability to contribute to the improved health care of citizens and through improved economic conditions, creation of jobs and to the development of the park area. The statement should include all factors which are relevant to the continued and expanded operations of the applicant including, but not limited to, the following:

1. the benefits to the state in terms of continued employment opportunities, expenditures for goods and services, contributions to the revenue base of the state and local governments, and the creation of new and additional permanent jobs;

2. competitive conditions existing in other states or in foreign nations;

3. the economic viability of the applicant, and the effect of any tax exemptions or credits on economic viability;

4. the effects on the applicant of temporary supply and demand conditions;

5. the effect of casualties and/or natural disasters;

6. the effects of United States and foreign trade policies;

7. the effect of federal laws and regulations bearing on the economic viability within the state of the applicant; and

8. the competitive effect of like or similar exemptions or credits granted to other applicants.

La. Admin. Code tit. 13, § I-1305

Promulgated by the Department of Economic Development, Office of Commerce and Industry, Division of Financial Incentives, LR 19:1541 (December 1993).

AUTHORITY NOTE: Promulgated in accordance with R.S. 46:811 et seq.