AWARD CRITERIA GUIDELINES

While job creation is the primary goal, awards will be based on a review of all aspects of the applications. OAQDA Guidelines for considering applications are summarized below.

Selection Criteria

Description

Guidelines

A. Workforce Impact

Jobs

How many direct jobs will be created within the first three years and after?

The most valued jobs will be new permanent full-time positions, job retention will also be considered but at a lower value.

Timing of Jobs

When will the jobs be created?

Accelerated job creation within the first three years is critical. Jobs created after three years will be considered.

Wages

What is the average wage of new jobs?

Hourly wages above $18 an hour are favored.

Cooperative Work Opportunities

Are internships or work co-op programs appropriate for the Project?

Commitment to creating opportunities for Ohio students and utilizing the Ohio First Co-Op/Intern program is highly valued.

B. Business Objective and Relevance in Supply Chain

Supply Chain Position

How does the Project's business objective enhance Ohio's existing economic base?

Projects that demonstrate how they strengthen the Ohio-based supply chain are highly valued.

C. Market Opportunity and Customer(s) Assessment

Product Risk

How certain is the Project to be technically successful?

Projects based on proven technologies in manufacturing applications or successful commercialization demonstrations are highly valued. Evidence of independent third party validation is critical for new to market technologies.

Customers

How certain is the Project to meet its stated business goals?

Sales orders or customers identified with documented interest in product are highly valued; communications with the customer base will also be considered.

Sustainable Advantage

Does the Project or product have a competitive advantage in the marketplace?

Demonstration of a distinct competitive advantage in the marketplace will be highly valued. Understanding of direct competitors is important.

D. Financial Leverage Proposal

Leverage

What additional new debt or equity funding will support the application?

In general, a higher match is preferred. Award requests with match in the range of 300% for grants and 150% for loans will be competitive. Matching funds will be measured from the approval of the final award by the OAQDA

Secondary Job Creation

What difference will this project make in creating secondary jobs?

Applications that show beneficial workforce ties to supporting industry will be highly valued.

Other Investment Impacts

How does the Project increase the potential for attracting capital sources to and from within Ohio?

Demonstrated links to diversified capital markets are highly valued.

E. Management Assessment

Management Strength

What is the management experience of the organization's leadership?

Project with management team in place and having demonstrated success in creating new businesses and bringing new products to the market will be highly valued as will third party validation of the project’s business plan.

Technical Expertise

What relevant technical expertise resides within the organization?

Management's ability to support, sustain and progress the technology will be highly valued.

F. Current Capitalization and Organizational Stability

Company History

What is the financial condition of the company?

A minimum of three years of operating history and recent history of positive cash flow is preferred.

G. Other Considerations

Carbon Reduction

Is this a major focus of the application?

Qualitative discussion of means by which project would contribute to carbon reduction goals.

Energy Independence

Does the project contribute?

Qualitative discussion of means by which project would contribute to energy independence.

Corporate Environmental Stewardship

What is the company's record in this area?

Firms with corporate environmental policies are favored.

Environmental and Energy Utilization Impacts

Does the project reduce energy use and or environmental impacts?

Firms with projects that will impact both energy and have multiplier affects on other energy or environmental issues will be scored more favorably.

Speed to Market

How fast will the project create sales?

Project that can be accelerated or will be quick to market will be favored.

Non-traditional Partners

Does the project include minority partners or is it based in an economically disadvantage region?

Participation by Ohio EDGE certified companies is highly valued.

Prior or Complimentary Support from the State of Ohio

Is the project presently supported by or has it received support in the past from the State of Ohio - including but not limited to:  Third Frontier, Edison Centers, OAQDA financing, or other state or quasi-public sources?

The OAQDA recognizes the value of building upon past investments by the State in growing companies as well as leveraging of available programs and resources to a given project.

U.S. or International Investment in Ohio

What institutional investors are involved in the project?

Projects that can help to attract other advanced energy investments to Ohio are favored.