§ 154-21-040

154.21 -040 Scoring system. (1) In the administration of the Kentucky Product Development Initiative, the Kentucky Association for Economic Development, via a third -party independent site selection consultant, shall develop a scoring system for the project and the project site proposed b y each grant applicant based on the total projected return on investment, key workforce characteristics, and the relative positive impact in the community. (2) The scoring system shall include: (a) A score in each category as specified in subsection (3) of this section; and (b) A total weighted score, which is the average of the scores in each category. (3) The scoring categories shall include but are not limited to: (a) Projected return on investment the project will yield, which includes an assessment of the: 1. Likelihood of project completion at the applicant's proposed site, both with the cabinet's funding and without; 2. Projected gross economic impact of the proposed project on the community; 3. Projected number of jobs created by the proposed project and subsequent impact on the community; and 4.

ng and without; 2. Projected gross economic impact of the proposed project on the community; 3. Projected number of jobs created by the proposed project and subsequent impact on the community; and 4. A determination of the cost of the job based on the cost expended by the cabinet if it awards the requested grant amount to the applicant; (b) Key workforce characteristics, including an assessment of objecti ve workforce data for the community in which the project is located; and (c) Relative positive impact the project will have on the surrounding community. Effective: July 14, 2022 History: Created 2022 Ky. Acts ch. 176, sec. 7, effective July 14, 2022.