As used in sections 32-500 to 32-512, inclusive:

(1) “Corporation” means Connecticut Innovations, Incorporated;

(2) “Commissioner” means the Commissioner of Economic and Community Development;

(3) “Department” means Department of Economic and Community Development;

(4) “Export” means the sale of goods or services by a business in Connecticut to a person, firm or corporation in another country;

(5) “Financial assistance” means grants, extensions of credit, loans or loan guarantees or combinations thereof;

(6) “Participation fee” means a fee paid to the state to compensate for expenses incurred by the state in organizing a trade show;

(7) “Recruitment” means the recruitment of foreign investment to the state;

(8) “Small and medium-sized company” means a business having not more than two hundred fifty employees;

(9) “State” means the state of Connecticut;

(10) “Success fee” means a fee paid to the department by a company which receives a contract to export goods or services as a result of assistance from the department;

(11) “Trade consortium” means an industry cluster grouping of two or more companies, with or without university partners, working as a unified organization for the purpose of promoting and managing the exports of participating companies;

(12) “Trade development company” means a business that assists small and medium-sized companies in entering foreign markets; and

(13) “Trade representative” means a commercial trade representative in important world markets.

(P.A. 94-237, S. 1, 14; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6; June 12 Sp. Sess. P.A. 12-1, S. 152.)

History: P.A. 94-237 effective July 1, 1994; P.A. 95-250 and P.A. 96-211 replaced Commissioner and Department of Economic Development with Commissioner and Department of Economic and Community Development; pursuant to June 12 Sp. Sess. P.A. 12-1, “Connecticut Development Authority” and “authority” were changed editorially by the Revisors to “Connecticut Innovations, Incorporated” and “corporation”, respectively, in Subdiv. (1), effective July 1, 2012.