(a) Funds have been
set aside for technical assistance grants. Technical assistance grants will be
available to for-profit or non-profit enterprises A maximum of $7,500 per
technical assistance grant will be allowed.
(b) To be eligible for consideration, each
technical assistance grant application must demonstrate a 25 percent (25%) cash
match obligated to eligible project costs. The 25 percent (25%) cash match for
technical assistance grants must originate from the benefiting business private
investor, or the non-profit organization. The 25 percent match will be applied
to the total project costs.
(c)
Each APPLICATION must also address the following requirements:
(i) Description of the project;
(ii) Impact on the community;
(iv) Number of potential jobs to be created
or retained;
(v) Detailed budget
for amount requested;
(vii) Principals
involved;
(viii) National Objective
involved (see Chapter 1, Section
3
);
(ix) Existing businesses or
non-profits must furnish three years of financial statements and their current
business plan;
(x) For new
businesses, the principals must furnish current financial information on
themselves and three years of pro-forma financial statements for the
project;
(xi) Consulting work must
be obtained from a qualified, disinterested third party. APPLICANTS FOR
TECHNICAL ASSISTANCE GRANTS ARE ENCOURAGED TO NAME THEIR CONSULTANT AT THE TIME
OF APPLICATION;
(xii) APPLICANT
MUST DEMONSTRATE METHODOLOGY FOR FUNDING IMPLEMENTATION OF THE
PROJECT;
(xiii) A narrative
explanation of how the project will either directly or indirectly provide for
the creation and retention of jobs that are available to low and moderate
income persons and aid in the diversification of the Wyoming economy or a
narrative explanation of how the technical assistance will increase the
capacity of the non-profit organization and how that benefits low to moderate
incomes persons.
(d)
Eligible activities for technical assistance. The purpose of technical
assistance grants is to assist for-profit businesses to conduct project
planning and research and to assist non-profit entities with capacity building.
Only project development costs are allowed, costs associated with project
implementation are not eligible. It is not the intent of the Technical
Assistance grant program to infuse capital to pay for the costs of selling or
manufacturing a new product, but rather to help pay the costs associated with
research and development of new products and markets and capacity building.
(i) Payment of costs associated with the
development of:
(B) Marketing studies/strategies
consultation;
(D) Prototype development
and testing;
(E) Packaging design
consultation;
(F) Marketing, sales
and cash flow management consultation.
(ii) Technical assistance grants must
demonstrate the potential for compliance with a national objective.
(e) Ineligible activities for
technical assistance Grants.
(i) Payment of
costs associated with the implementation of:
(B) Marketing strategies;
(ii) Payment of the salary costs of business
principals or their employees.
(iii) Payment of travel costs for anyone
other than consultants.
(iv)
Payment of patent and copyright fees.
(f) Technical assistance numerical rating. In
determining the process for selection of the projects, the Wyoming Business
Council staff will evaluate each application for completeness based upon the
requirements listed previously. Each application will be rated using the
numerical system that follows (60 points possible).
(i) Proposed action -Up to 20 points.
Emphasis is placed upon the probability of the project's implementation. If
businesses or non-profits can demonstrate the commitment of funds from programs
whose purpose is to bring new products into the marketplace or demonstrate that
increased capacity will increase a programs' beneficiaries, a maximum of 20
points will be awarded. Businesses or non-profits that are either already in
operation or (in the case of a manufacturing business) have secured necessary
production financing will also receive a maximum of 20 points. Businesses
requiring assistance to retain existing jobs will also be eligible for 20
points. If the applicant is a private individual or group intending to start a
new business or organization, the sum of 10 points shall be awarded. Existing
business entities that desire expansion, but are only in the process of
formulating a concept, will receive 5 points.
(ii) Job creation - Up to 20 points. Emphasis
is placed upon the projected number of jobs created/retained should the results
of the study prove positive. Applicants are cautioned to be conservative in
estimating job creation since the rationale for the projections will be closely
reviewed and actual jobs created or retained will require
verification.
(iii) Potential
economic benefit - Up to 20 points. It is important to demonstrate the overall
economic boost that would accrue to a community or region if the results of the
study were implemented. Special emphasis will be given to those projects
located in areas that are severely economically distressed.
(A) Additional review criteria:
(I) It is important that applicants have a
clear view of how study findings will be implemented and financed. Therefore,
when reviewing and approving proposals the Wyoming Business Council will give
favorable consideration to projects that:
(1)
involve companies that have a track record of success, as well as the personnel
and resources in place for project implementation, and
(2) have funds available and dedicated for
implementation of study recommendations;
(II) The Wyoming Business Council may not
approve a proposal if the applicant cannot demonstrate how the project would
either directly or indirectly create or retain jobs in the community.