R357-3-102. Definitions

  In addition to the definitions in Title 63N, Chapter 2, Section 103 as defined or used in this rule:

  (1) "Board" means the Board of Business and Economic Development created in Section 63N-1-401.

  (2) "Direct investment within the geographic boundaries ", as used in Subsection 63N-2-104(2)(b)(ii), means that the applicant for the tax credit will invest in a new commercial project in the economic development zones.

  (3) "Executive Director" means the Executive Director of GOED.

  (4) "GOED" means The Governor's Office of Economic Development.

  (5) "Retail Business", as used in Subsection 63N-2-103(6)(b), means the physical location from which the general public may directly purchase merchandise or direct services and does not include distribution centers, the corporate functions associated with retailing, or other activities associated with retailing that may be accomplished from any physical location or that are not dependent on proximity to end consumers for retail sales.