63M-1-902. Definitions.
As used in this part:
(1) "Administrator" means the director or the director's designee.
(2) "Board" means the Board of Business and Economic Development.
(3) "Company creating an economic impediment" means a company that discourages
economic development within a reasonable radius of its location because of:
(a) odors;
(b) noise;
(c) pollution;
(d) health hazards; or
(e) other activities similar to those described in Subsections (3)(a) through (d).
(4) "Economic opportunities" means unique business situations or community
circumstances which lend themselves to the furtherance of the economic interests of the state by
providing a catalyst or stimulus to the growth or retention, or both, of commerce and industry in
the state.
(5) "Economically disadvantaged rural area" means a geographic area designated by the
board under Section 63M-1-910.
(6) "Fund" means the restricted account known as the Industrial Assistance Fund created
in Section 63M-1-903.
(7) "Replacement company" means a company locating its business or part of its
business in a location vacated by a company creating an economic impediment.
(8) "Targeted industry" means an industry or group of industries targeted by the board
under Section 63M-1-910, for economic development in the state.
Renumbered and Amended by Chapter 382, 2008 General Session
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Last revised: Thursday, May 28, 2009