Selection Process

Selection Process. The process used for evaluating, selecting, and funding Pre- Applications and Applications is based on the following: A. Eligibility B. Project readiness C. Company's financial condition D. After the review of your Pre-Application, MDA may issue a letter inviting a DIP application. The letter will state the amount of DIP funds that can be applied for and the requirements. Please note: a letter of invitation is not a commitment of funds. An application will be made available at that time. In addition, the applicant must have a Memorandum of Agreement executed with the benefitting business to create and/or retain jobs and make the investment as described in the application. The highest official with both the applicant and the benefitting business must sign the agreement. E. MDA will perform a financial review of the business benefitting from DIP money. If MDA does not find the business to be financially sound and eligible to receive state incentives, the Community Services Division will not invite the applicant. F. DIP applications are accepted on a continuing basis as long as funds are available. G. The applicant will be given 45 days to submit the full application.