Louisiana Administrative Code
Title 13 - ECONOMIC DEVELOPMENT
Part I - Financial Incentive Programs
Chapter 15 - Louisiana University Research and Development Parks Program
Section I-1503 - Definitions

A. For purposes of these rules, the following terms shall have the meaning hereafter ascribed to them, unless the context clearly indicates otherwise.

Concern-any technology-driven or innovative, growth-oriented company engaged in the application of science, especially to industrial or commercial objectives. Such companies should be engaged in the development, manufacture, assembly or sale of products or services that emerge from or depend upon the practical application of scientific or technological advances.

Construction Period- begins the first day on which foundations are started, or where foundations are unnecessary, the first day that materials or equipment for that project are received, and ends the day that construction is completed or operations begin, whichever is later.

Develop- to aid in the growth of or bring into being.

Innovative Growth-Oriented- utilizing new concepts or ideas to induce or sustain growth.

Manufacturing Establishment- for the purposes of receiving benefits under this program shall mean those engaged in the mechanical or chemical transformation of materials or substances into new products, or assembling component parts if the finished product is neither a structure nor other fixed improvement.

Park Area- the area included in any research and development park which is operated in association with a public or regionally accredited independent university in the state.

Park Developer- person(s) or entity responsible for preparing the park area for use.

Program- the Louisiana University Research and Development Parks Program.

Research- a scientific or scholarly investigation process.

Technology- the application of science, especially to industrial or commercial objectives and the whole body of methods and materials used to achieve such objectives.

University Research and Development Park- includes nonprofit or for-profit research and development parks that have established a relationship with a university or are part of a university. The relationship may be a contractual one including joint ventures or actual operation of a research and development park by a university, or it may take the shape of a formal operational relationship including cooperative or sponsored ventures between a research park and university. A University Research and Development Park shall have:

a. existing or planned land and buildings primarily designed for private and public research and development facilities, technology driven and science-based companies relating to manufacturing, assembly, or support services;

b. a contractual and/or operational relationship(s) with a university or other institution of higher education;

c. a role in promoting research and development by the university in partnership with industry, assisting in the growth of new ventures, and promoting economic development;

d. a role in aiding the transfer of technology and business skills between the university and industry tenants;

e. a resolution from the affiliated university describing its participation in the program.

B. Park developer must submit a resolution to the Office of Commerce and Industry as soon as a park has been established. The resolution must give the following information: