Section 261.57.10. Evaluation and rating criteria.

The IDED staff shall evaluate and rank applications based on the following criteria:

       57.10(1) For the innovative products and processes component:

        a.           Feasibility (0-25 points). The feasibility of the existing or proposed facility, process, or operation to remain a viable enterprise. Rating factors for this criterion include, but are not limited to, the following: initial capitalization, project budget, financial projections, marketing analysis, marketing plan, management team, and production plan. In order to be eligible for funding, proposals must score at least 15 points on this rating factor.

        b.           Priority components (0-25 points). The degree to which the proposed project meets one of the four primary program components which include:

        1.            Innovative agricultural products and processes.

        2.            Renewable fuels.

        3.            Agricultural biotechnology, agricultural biomass, and alternative energy.

        4.            Organic products and emerging markets.

In order to be eligible for funding, proposals must score at least 15 points in the program component under which the applicant is eligible.

        c.           Utilization (0-25 points). The degree to which the facility will add value to and increase the utilization of agricultural commodities produced in this state. In order to be eligible for funding, proposals must score at least 15 points on this rating factor.

        d.           Producer ownership (0-15 points). The level of producer ownership will be given additional consideration.

        e.           The extent to which the existing or proposed facility is located in a rural region of the state (0-10 points).

        f.            The proportion of local match to be contributed to the project (0-5 points).

        g.           The level of need of the region where the existing facility is or the proposed facility is to be located (0-5 points). More points are awarded to those projects which exhibit greater need as measured by factors including, but not limited to, the following: regional unemployment rate, poverty level, or other measures of regional fiscal distress.

        h.           The degree to which the facility produces a coproduct which is marketed in the same locality as the facility (0-5 points).

A minimum score of 65 points is needed for a project to be recommended for funding.

       57.10(2) For the project creation assistance component:

        a.           Any person is eligible to apply except educational or research institutions. However, an educational or research institution may be a partner to an eligible applicant.

        b.           The evaluation process will focus on the application of new technology and knowledge to agricultural processing and will be based upon the degree to which:

       (1)             The resulting business has potential to increase the utilization of agricultural commodities in Iowa; and

       (2)             The resulting business increases value-added economic activities (for example, facilities or employment) within the state of Iowa.