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• ELK RIVER ECONOMIC DEVELOPMENT <br /> TECHNOLOGY ASSISTANCE PROGRAM <br /> CRITERIA <br /> June 2003 D IPd <br /> A IT <br /> I. PURPOSE <br /> The Economic Development Authority for the City of Elk River (EDA) recognizes the need <br /> and importance to retain and recruit industrial companies within the City of Elk River. The <br /> purpose of the Technology Assistance Program is to provide a technical assistance incentive <br /> to qualifying existing and prospective Elk River manufacturers to encourage company <br /> efficiency and productivity. <br /> II. CRITERIA <br /> The following criteria will be used to determine the eligibility of applicants for the <br /> Technology Assistance Program: <br /> A. Retail/service and start up businesses will not be considered. <br /> B. Companies must be involved in product manufacturing/assembly or be high <br /> technology-service related. <br /> C. Companies demonstrate growth potential. <br /> D. P <br /> Companies must report the following impact(s) resulting from the <br /> Technology Assistance Program: <br /> • Sales increase <br /> • Inventory cost savings <br /> • Labor cost savings <br /> • Material cost savings <br /> • Other cost savings <br /> • Capital investments <br /> • Other investments <br /> • Number of jobs created <br /> • Number of jobs retained <br /> E. Companies must commit to relocating and/or expanding in the City of Elk <br /> River via quality job creation/retention, new equipment purchase and/or new <br /> construction. <br />