A two-phase review process
The process begins with an online application, which must be completed by the applicant or an authorized representative. Once the online application is submitted to GO-Biz, it’s subject to a two-phase review process. Phase one is automated and covers the quantitative cost-benefit analysis.
The most competitive applications (those with the lowest tax-credit request amounts and highest aggregate employee compensation and investment packages) move on to phase two. During the second phase, the committee performs a qualitative evaluation of the business’ job-creation benefits and economic importance to the state. Though phase two rests on a foundation of economic modeling, it requires companies to present a credible and compelling case the committee can quickly see and support.