(a) Funds have been set aside for technical assistance grants. Technical assistance grants will be available to for-profit or non-profit enterprises A maximum of $7,500 per technical assistance grant will be allowed.
(b) To be eligible for consideration, each technical assistance grant application must demonstrate a 25 percent (25%) cash match obligated to eligible project costs. The 25 percent (25%) cash match for technical assistance grants must originate from the benefiting business private investor, or the non-profit organization. The 25 percent match will be applied to the total project costs.
(c) Each APPLICATION must also address the following requirements: - (i) Description of the project;
- (ii) Impact on the community;
- (iv) Number of potential jobs to be created or retained;
- (v) Detailed budget for amount requested;
- (vii) Principals involved;
- (viii) National Objective involved (see Chapter 1, Section 3 );
- (ix) Existing businesses or non-profits must furnish three years of financial statements and their current business plan;
- (x) For new businesses, the principals must furnish current financial information on themselves and three years of pro-forma financial statements for the project;
- (xi) Consulting work must be obtained from a qualified, disinterested third party. APPLICANTS FOR TECHNICAL ASSISTANCE GRANTS ARE ENCOURAGED TO NAME THEIR CONSULTANT AT THE TIME OF APPLICATION;
- (xii) APPLICANT MUST DEMONSTRATE METHODOLOGY FOR FUNDING IMPLEMENTATION OF THE PROJECT;
- (xiii) A narrative explanation of how the project will either directly or indirectly provide for the creation and retention of jobs that are available to low and moderate income persons and aid in the diversification of the Wyoming economy or a narrative explanation of how the technical assistance will increase the capacity of the non-profit organization and how that benefits low to moderate incomes persons.
(d) Eligible activities for technical assistance. The purpose of technical assistance grants is to assist for-profit businesses to conduct project planning and research and to assist non-profit entities with capacity building. Only project development costs are allowed, costs associated with project implementation are not eligible. It is not the intent of the Technical Assistance grant program to infuse capital to pay for the costs of selling or manufacturing a new product, but rather to help pay the costs associated with research and development of new products and markets and capacity building. - (i) Payment of costs associated with the development of:
- (B) Marketing studies/strategies consultation;
- (D) Prototype development and testing;
- (E) Packaging design consultation;
- (F) Marketing, sales and cash flow management consultation.
- (ii) Technical assistance grants must demonstrate the potential for compliance with a national objective.
(e) Ineligible activities for technical assistance Grants. - (i) Payment of costs associated with the implementation of:
- (B) Marketing strategies;
- (ii) Payment of the salary costs of business principals or their employees.
- (iii) Payment of travel costs for anyone other than consultants.
- (iv) Payment of patent and copyright fees.
(f) Technical assistance numerical rating. In determining the process for selection of the projects, the Wyoming Business Council staff will evaluate each application for completeness based upon the requirements listed previously. Each application will be rated using the numerical system that follows (60 points possible). - (i) Proposed action -Up to 20 points. Emphasis is placed upon the probability of the project's implementation. If businesses or non-profits can demonstrate the commitment of funds from programs whose purpose is to bring new products into the marketplace or demonstrate that increased capacity will increase a programs' beneficiaries, a maximum of 20 points will be awarded. Businesses or non-profits that are either already in operation or (in the case of a manufacturing business) have secured necessary production financing will also receive a maximum of 20 points. Businesses requiring assistance to retain existing jobs will also be eligible for 20 points. If the applicant is a private individual or group intending to start a new business or organization, the sum of 10 points shall be awarded. Existing business entities that desire expansion, but are only in the process of formulating a concept, will receive 5 points.
- (ii) Job creation - Up to 20 points. Emphasis is placed upon the projected number of jobs created/retained should the results of the study prove positive. Applicants are cautioned to be conservative in estimating job creation since the rationale for the projections will be closely reviewed and actual jobs created or retained will require verification.
- (iii) Potential economic benefit - Up to 20 points. It is important to demonstrate the overall economic boost that would accrue to a community or region if the results of the study were implemented. Special emphasis will be given to those projects located in areas that are severely economically distressed.
- (A) Additional review criteria:
- (I) It is important that applicants have a clear view of how study findings will be implemented and financed. Therefore, when reviewing and approving proposals the Wyoming Business Council will give favorable consideration to projects that:
- (1) involve companies that have a track record of success, as well as the personnel and resources in place for project implementation, and
- (2) have funds available and dedicated for implementation of study recommendations;
- (II) The Wyoming Business Council may not approve a proposal if the applicant cannot demonstrate how the project would either directly or indirectly create or retain jobs in the community.