6.0. EDSR 12-09-1996 - Laserfiche WebLink

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• ELK RIVER BUSINESS INCUBATOR PROGRAM TENANT SELECTION GUIDELINES The primary purpose of the Business Incubator Program is to provide inexpensive space and support for new, high technology, start-up, and existing, small businesses whose success would add significantly to the growth and diversification of the City of Elk River's economic base. The Elk River Economic Development Authority (EDA) will, as its primary objective, select companies which appear to have the necessary fundamentals established to assure their future growth and success. I. Basic Entry Guidelines The following basic entry guidelines will be used to determine the eligibility of applicants to the Business Incubator Program: 1. Retail businesses will not be considered. 2. Businesses which compete exclusively in the local market with other similar local businesses will not be considered. • 3. Manufacturing/assembly businesses will be screened to assure the facility is able to accommodate their intended process and byproducts. 4. Special consideration may be provided to businesses marketing new products/technology in the energy field. 5. Businesses are required to have a completed business plan and a workable product prototype. II. Specific Application Guidelines Evidence of the following specific guidelines is to be provided at the time of application to the Business Incubator Program: 1. Business must be involved in product manufacturing or assembly. 2. Business may be required to give preference to JTPA eligible persons. 3. The principals must have substantial technical and/or managerial skills, or demonstrated experience and education in the product field. 4. Existing companies will be considered for incubator occupancy if • either (a) it is deemed that circumstances clearly indicate that a move to the incubator will help retain and/or create jobs that