3 AAC 59.030. Eligibility for grants

(a) For purposes of meeting the eligibility requirements set out in AS 45.81.020 (a), a new business or a business that is opening a new branch in the state

(1) must have a valid business license

(A) issued by the department under AS 43.70 and 12 AAC 12; and

(B) specifying manufacturing as the line of business within the meaning of 12 AAC 12.990, as indicated by the department's corresponding

(i) two-digit business category code for that line of business; and

(ii) four-digit or six-digit business classification codes for related primary and secondary business activities within that line of business;

(2) must be primarily engaged in manufacturing a product for export outside the state, or manufacturing items for a business for use in manufacturing a product for export outside the state;

(3) may not directly compete, as determined by the department, with an existing business that is located in the state and that is assigned the same four-digit or six-digit business activity code as described in (1)(B)(ii) of this subsection;

(4) if that business or branch is to be located within a municipality, may not receive a new business incentive grant unless the municipality

(A) through its governing body, consents to the location of the business and provides support to the business in the form of cash or in-kind services in an amount not less than 25 percent of the amount of the grant to be awarded under this section; and

(B) memorializes the consent required by (A) of this paragraph through a written agreement with the business;

(5) if that business or branch is to be financed, must receive at least 75 percent of the financing from private sources; for purposes of this paragraph, "financing provided by private sources" includes loans from private financial institutions that are either guaranteed or participating with a state or federal government agency; and

(6) may not receive a new business incentive grant unless the Alaska Industrial Development and Export Authority reviews the new business incentive grant application and submits in writing to the department a recommendation that the business has complied with the requirements of this chapter for award of a new business incentive grant.

(b) For purposes of this section, the department's two-digit business category codes for lines of business within the meaning of 12 AAC 12.990 and four-digit and six-digit business classification codes for related activities within those lines of business, as revised as of June 30, 1999, are adopted by reference.

History: Eff. 6/11/2000, Register 154

Authority: AS 45.81.010

AS 45.81.020

AS 45.81.040

Editor's note: Copies of the department's business category and classification codes, adopted by reference in 3 AAC 59.030, are available at the offices of the Division of Occupational Licensing in Anchorage and Juneau, and are also available on the division's website at http://www.dced.state.ak.us/occ/buslic.htm.

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