21 CRR-NY 5902.5NY-CRR
21 CRR-NY 5902.5
21 CRR-NY 5902.5
5902.5 Principal criteria for financial assistance selection.
An application filed with the foundation shall be evaluated on the basis of the following criteria:
(a) the applicant must have an innovative technology orientation;
(b) the applicant must have a good probability of commercial success;
(c) the applicant must have made every effort to secure the necessary private capital prior to filing the preliminary application or current business plan;
(d) the applicant shall be required to provide a match from such other sources and in such amounts as is determined by the board after receipt of the recommendation of the investment review committee; and
(e) the applicant must be able to provide, after receiving financial assistance, substantial benefits to the State, including substantial primary employment and, where appropriate, utilization of manpower training programs, existing industrial spaces, and other infrastructure.
21 CRR-NY 5902.5
Current through June 30, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.