Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part III - Financial Assistance Programs › Chapter 3 - Workforce Development and Training Program › Section III-303 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
Applicant
-the business entity or company
				  authorized to do business in Louisiana requesting a training award from LED and
				  LEDC under this program.
Award
-funding of financial assistance,
				  including performance-based grants, approved under this program for eligible
				  training activities.
Award Agreement
-that agreement or contract
				  hereinafter referred to between the company, LED and LEDC through which, by
				  cooperative endeavor agreement or otherwise, the parties set forth the amount
				  of the award, the terms, conditions and performance objectives of the award
				  provided pursuant to these rules.
Company
-the business enterprise undertaking
				  the workforce training project, and the successful applicant receiving or
				  granted an award under this program.
Contract
-a legally enforceable Award
				  Agreement between LED, LEDC and the successful applicant or company governing
				  the terms and the conditions of the training award.
Employee
-a Louisiana resident hired by a
				  company for permanent full-time employment.
Jobs
-refers to
permanent full-time
				  jobs
, direct jobs which are not contract jobs, that are permanent and
				  not temporary in nature, requiring employees to work an average of 30 or more
				  hours per week. This term also includes the term
permanent full-time
				  equivalent jobs
.
LED
-the Louisiana Department of Economic
				  Development.
LEDC
-the Louisiana Economic Development
				  Corporation.
LEDC Board
-the Board of Directors of the
				  Louisiana Economic Development Corporation.
Net Benefit Return to the State
-the
				  determination of whether or not the value to the state is equal to or exceeds
				  the amount of the award to the company.
Percentage of Achieved Performance Objectives as
				  Provided in the Contract
-an average of that portion achieved by the
				  company of the permanent full-time jobs created or upgraded, and that portion
				  achieved by the company of the annual salary levels to be reached, as provided
				  in the contract. The two portions are to be added together, and the total
				  figure is then divided by two, in order to yield the average percentage.
Permanent Full-Time Jobs
-refers to direct
				  jobs which are not contract jobs, that are permanent and not temporary in
				  nature, requiring employees to work an average of 30 or more hours per week.
				  This term also includes the term
permanent full-time equivalent
				  jobs
.
Preference
-the discretionary granting of an
				  advantage or priority to one applicant or application over others; allows extra
				  consideration to be given to one applicant or application over others, with
				  regard to the availability of funding.
Program
-the Workforce Development and
				  Training Program.
Project
-the workforce training endeavor that
				  will enhance the qualifications and productivity of a company's workforce, its
				  employees and prospective employees, for which LED and LEDC assistance is
				  requested under this program as an incentive to influence a company's decision
				  to locate, maintain or expand its operations in Louisiana, to increase its
				  capital investment in Louisiana, to locate a facility in this state, and/or to
				  employ residents of this state.
Secretary
-the Secretary of the Louisiana
				  Department of Economic Development, who is, by law, also the President of the
				  Louisiana Economic Development Corporation.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  51:2331 et seq., 36:104, 36:108 and
				  51:2312.