Types of Proposed Business Eligible:

· May be "start-up" business; defined as any corporation, partnership or sole proprietorship, which has a developed product or service with marketability identified; with personnel needs and cost stated; and with an identified ability to finance its operation for at least one year.   The appropriate vehicle to present this necessary detail is a well-prepared business plan.
· Established or existing business expansion may be considered.  However, mere relocations from one location in Decatur County to another will not be considered where this results in closing of one location in the area just to relocate to Parsons.  Should an existing business applicant be unable to expand in its present location or loses its lease through no fault of its own, the Selection Committee may consider said application giving due credit to expansion of product lines or services or increases in jobs in the local area.  Said applications will normally only be considered on a space availability basis.
· Business may be for-profit or may be non-profit. 

Priority for consideration::

1. Priority will be given to new products, product lines or services not presently being offered in the Parsons area.  This criterion can be met by a new business offering a new combination of lines or services or to one   marketing only one new service or product.  Uniqueness of product and lack of competition in the area will score higher in consideration.
2. Service or product marketability--is there a market for the product in the service area around Parsons?  Greater the potential market the higher the application will score.
3. Potential new revenue to market area?  The greater the potential revenues for area the higher the application will score. 
4. Potential new jobs.  The greater the potential for employment the higher the applications score.
5. The lower the competition in the local market area the greater the applications score.
Initial Screening of Application by Incubator Selection Committee:
The Incubator Selection Committee will screen and evaluate the Center for Business Opportunity's Business Incubator Tenant Pre-Application based on the above criteria.  Based on the number of vacancies available at the time of the screening, the Committee will ask those with the highest score to have prepared a Business Plan.
Business Plan Requirements:
The Center has available certain funds to assist the selected applicants with the expense of having this plan prepared.  However at this time The Decatur County Chamber of Commerce has available grant monies to fund business plans suitable for the Center's needs.  Applicants needing help preparing business plans will be first referred to the Chamber for access to this service.  Should the applicants have their own source for this service the Chamber can assist to the dollar amount specified in their service system.

The well-prepared business plan will include at least:

· A description of the business
· Description of product/service to be provided.
· Discussion of marketing strategy and product/service distribution method.
· Resume of Owners and key personnel
· Projected financial statements (3 years).
· Identification of equity and borrowing requirements and ability to obtain such required financing.
· Indication of potential for growth.
· Indication of number of employees and employment classifications (i.e., skilled, unskilled and managerial)
Additional Criteria

· Occupancy as a tenant will be limited to three years maximum, based on one three year lease agreement.  At the end of this period the tenant will be expected to "graduate" from the incubator and go out on its own independent operation.
· All Tenants must obtain appropriate operating permits and licenses to operate in Parsons.
· All Tenants must be dues paying members of Decatur County Chamber of Commerce and the Parsons' Business Association.
· Each Business is responsible for providing its own equipment, supplies, etc., to furnish its respective area.
o Tenants in the single tenant building will be responsible for obtaining and furnishing light, gas and electrical service for their facility.
o Those tenants in multiple occupancy building will have these utilities factored into their monthly rental amounts.  This amount may be adjusted annually base on previous 12 month usage.

Final tenant selection will be based upon Selection Committee review of the Applicant's Business Plan