The director shall develop performance standards for judging the effectiveness of the program. Such standards shall include, to the extent possible, examining the effectiveness of grants in regard to:

(1) Job creation for individuals of low and moderate income;

(2) Retention of existing employment;

(3) The creation of new employment opportunities;

(4) The diversification of the economic base of local communities;

(5) The establishment of employee cooperatives;

(6) The provision of assistance in cases of employee buy-outs of firms to prevent the loss of existing employment;

(7) The degree of risk assumed by the fund, with emphasis on loans which did not receive financing from commercial lenders, but which are considered financially sound.

Savings—Effective date—2005 c 136: See notes following RCW 43.168.020.