Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 9 - Division of Trade and Development
Chapter 59 - Alaska New Business Incentive Program
3 AAC 59.900 - Definitions

(1) "ceasing to operate" means

(2) "department" means the Department of Commerce, Community, and Economic Development;

(3) "directly compete" means to manufacture a product substantially similar to a product that an existing business manufactures for twelve months or more before the date of the grant request;

(4) "equipment" means machinery, and appurtenances to that machinery, used in the manufacture of products for export outside the state by the business;

(5) "existing business" means a corporation, person, or other legal entity, domestic or foreign, that itself or through its subsidiary or affiliate, holds an active business license issued under AS 43.70 and 12 AAC 12;

(6) "finance" means to provide with capital or loan money as needed to carry on the business;

(7) "governing body" means, if the business is to be located in

(8) "initial inventory" means raw or partially manufactured materials required by the business during the first year of operation, to the extent that those materials must be imported from outside the state;

(9) "key personnel" means officers, supervisory management employees, or technical personnel, that are necessary for the successful conduct of business operations in the state;

(10) "municipality" has the meaning given that term in AS 01.10.060;

(11) "new branch" means a commercial enterprise that is operated for profit, organized under the laws of this state, and headquartered in another state or another location within this state;

(12) "new business" means a commercial enterprise that is operated for profit, organized under the laws of the state, and headquartered in the state;

(13) "operating" means maintaining employees in the state, continuing to manufacture and export products from the state, and maintaining an active business license with the department in accordance with AS 43.70 and 12 AAC 12;

(14) "primarily engaged" means deriving greater than 80 percent of the business's revenue from the business's primary business activity, as indicated through the business classification code specified for that activity under 3 AAC 59.030(a) (1)(B)(ii);

(15) "salaries"