Ga. Comp. R. & Regs. R. 110-25-1-.03 - Purpose

The purpose of the Life Sciences Facilities Fund (the "Facilities Fund") is to serve as an incentive program to provide low-cost loan assistance for the purchase of fixed assets to eligible applicants that are being considered as a relocation or expansion site for a life-science company targeted by Georgia. The Facilities Fund is intended to be used as an incentive when needed to retain or recruit life-science companies in and to Georgia, or to fill a financing gap that is unmet by the private sector (including angel investors, venture capital, traditional commercial financing, developer financing, etc.) and when the health, welfare and economic security of the citizens of the state are promoted through the recruitment, development and retention of life-sciences companies that are creating higher quality jobs, making private investment in Georgia and creating marketable products.

Notes

Ga. Comp. R. & Regs. R. 110-25-1-.03

O.C.G.A. Sec. 50-8-3.

Original Rule entitled "Purpose" adopted. F. Dec. 16, 2005; eff. Jan. 5, 2006. Grant Chapter 110-25-1 originally submitted on December 16, 2005, as rules. Error discovered and corrected in Nov. 2007. Original grant description entitled "Purpose" submitted December 16, 2005. Submitted: Nov. 7, 2007.