Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 15 - Louisiana University Research and Development Parks Program › Section I-1503 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
A. For purposes of
				these rules, the following terms shall have the meaning hereafter ascribed to
				them, unless the context clearly indicates otherwise.
Concern
-any technology-driven or innovative,
				  growth-oriented company engaged in the application of science, especially to
				  industrial or commercial objectives. Such companies should be engaged in the
				  development, manufacture, assembly or sale of products or services that emerge
				  from or depend upon the practical application of scientific or technological
				  advances.
Construction Period
- begins the first day on
				  which foundations are started, or where foundations are unnecessary, the first
				  day that materials or equipment for that project are received, and ends the day
				  that construction is completed or operations begin, whichever is later.
Develop
- to aid in the growth of or bring
				  into being.
Innovative Growth-Oriented
- utilizing new
				  concepts or ideas to induce or sustain growth.
Manufacturing Establishment
- for the
				  purposes of receiving benefits under this program shall mean those engaged in
				  the mechanical or chemical transformation of materials or substances into new
				  products, or assembling component parts if the finished product is neither a
				  structure nor other fixed improvement.
Park Area
- the area included in any
research
and development park which is operated in association
				  with a public or regionally accredited independent university in the
				  state.
Park Developer
- person(s) or entity
				  responsible for preparing the park area for use.
Program
- the Louisiana University Research
				  and Development Parks Program.
Research
- a scientific or scholarly
				  investigation process.
Technology
- the application of science,
				  especially to industrial or commercial objectives and the whole body of methods
				  and materials used to achieve such objectives.
University Research and Development Park
-
				  includes nonprofit or for-profit research and development parks that have
				  established a relationship with a university or are part of a university. The
				  relationship may be a contractual one including joint ventures or actual
				  operation of a research and development park by a university, or it may take
				  the shape of a formal operational relationship including cooperative or
				  sponsored ventures between a research park and university. A University
				  Research and Development Park shall have:
a. existing or planned land and buildings primarily designed
				  for private and public research and development facilities, technology driven
				  and science-based companies relating to manufacturing, assembly, or support
				  services;
b. a contractual and/or operational relationship(s) with a
				  university or other institution of higher education;
c. a role in promoting research and development by the
				  university in partnership with industry, assisting in the growth of new
				  ventures, and promoting economic development;
d. a role in aiding the transfer of technology and business
				  skills between the university and industry tenants;
e. a resolution from the affiliated university describing its
				  participation in the program.
B. Park developer must submit a resolution to
				the Office of Commerce and Industry as soon as a park has been established. The
				resolution must give the following information:
1. specific location and boundaries of the
				park;
2. documentation of
				university affiliation.