LAC 13:V.201. Purpose

A. The Secretary of the Department of Economic Development and the governor of this state, on their own initiative, may offer an award of financial assistance to a business entity under circumstances they, in their discretion, determine to be appropriate; and they may in their discretion require the business entity to submit some or all of the information required of applicants under these rules, or they may invite a business entity to become an applicant to request an award of financial assistance subject to the rules of this program. B. The purpose of this program is to provide an application, review and approval process for applicants to seek state financial assistance for immediate funding of all or a portion of economic development projects in order to successfully secure the creation and/or retention of jobs by a business entity in Louisiana under such circumstances as may be determined appropriate by the Secretary of Economic Development and the governor of Louisiana, in their discretion.