Louisiana Revised Statutes 51:3112 – Eligibility requirements
Terms Used In Louisiana Revised Statutes 51:3112
- Business: means any individual, firm, joint venture, association, corporation, estate, partnership, business trust, receiver, syndicate, or any other legal business entity. See Louisiana Revised Statutes 51:3111
- Headquarters: means a principal or regional corporate office located or to be located in Louisiana, in which are based the principal or regional executive officers normally constituting a principal or regional headquarters providing corporate governance. See Louisiana Revised Statutes 51:3111
- Headquarters jobs: means permanent full-time new executive, administrative, or professional jobs based at a headquarters and filled by residents of the state employed by a qualified business, and each job paying at least sixty thousand dollars per year or two hundred percent of the average annual wages paid by employers subject to the Louisiana Employment Security Law in the parish in which the headquarters is located, whichever is lower. See Louisiana Revised Statutes 51:3111
- Program: means the Corporate Headquarters Relocation Program established pursuant to this Chapter. See Louisiana Revised Statutes 51:3111
- Secretary: means the secretary of the Department of Economic Development. See Louisiana Revised Statutes 51:3111
- State: means the state of Louisiana. See Louisiana Revised Statutes 51:3111
A. A business shall be eligible to participate in the program if it determines all of the following requirements are met:
(1) The business is relocating a headquarters to the state, or is expanding a headquarters in the state.
(2) The secretary determines that participation in the program will be a significant factor in a highly competitive site selection situation to encourage the business to relocate or expand the headquarters in the state.
(3) The secretary determines that securing the project will result in a significant positive economic benefit to the state.
(4) Relocation or expansion of the headquarters will create a minimum of twenty-five headquarters jobs.
B. No business engaged in gaming or gambling shall be eligible for the program.
Acts 2012, No. 503, §1, eff. July 1, 2012.