560.16(4)(b) (b) As a condition of approval of a grant to a group under this section, the board shall require that the group provide matching funds for at least 25% of the cost of the project, except that the board may waive application of that requirement if the board determines that the group is subject to extreme financial hardship.

560.16(4)(c) (c) Any contract for any feasibility study or professional services financed by a grant under sub. (2) (a) shall be subject to the approval of the department. The department may not approve such a contract unless it determines that the contractor has the expertise required to provide the necessary study or services and that the contractor's costs are consistent with existing market rates.

560.16(6)(a)(a) Any feasibility study of an existing business financed by a grant under sub. (2) (a) may include:

560.16(6)(a)1. 1. An assessment of the market value and demand for any product produced by the existing business.

560.16(6)(a)2. 2. A complete evaluation of the production costs of the existing business, including, but not limited to, labor, inventory, machinery and equipment, and the application of new technology.

560.16(6)(a)3. 3. A verified statement of the financial condition and business operation of the existing business for the previous 3 years, certified by an independent public accountant.

560.16(6)(a)4. 4. A full narrative appraisal of the fair market value of the assets of the existing business by a disinterested and qualified appraiser using all 3 commonly accepted appraisal methods.

560.16(6)(a)5. 5. A comprehensive projected business plan of the proposed employe-owned business, including the proposed organizational structure and ownership arrangements.

560.16(6)(a)6. 6. The number and type of jobs to be created or preserved by the proposed employe-owned business at its start-up and for each of the 3 subsequent years.

560.16(6)(a)7. 7. An analysis of the reasons for the closing or considered closing of the existing business.

560.16(6)(a)8. 8. A plan for implementing the feasibility study, if the study concludes that reorganization or new incorporation of the existing business as an employe-owned business is feasible.

560.16(6)(b) (b) The results of a feasibility study of an existing business financed by a grant under sub. (2) (a) shall be solely for the use of the group which received the grant, except that if the group's bid to purchase the business has been withdrawn, rejected or terminated, the group shall submit a copy of the study and the results of any professional services financed by the grant to the board and the board may provide a copy of such results to any person seeking to purchase the existing business.

560.165 560.165 Division of international and export development; fees. The division of international and export development may charge fees for services it provides to cover the costs incurred by the division in providing the services. The division shall deposit all fees collected under this section in the appropriation account under s. 20.143 (1) (g).

560.167(1)(a) (a) "Eligible business" means a business operating in this state that manufactures a product or performs a service, or both, with a potential to be exported and that, together with all of its affiliates and subsidiaries and its parent company, had gross annual sales of $25,000,000 or less in the calendar year preceding the year in which it applies for a reimbursement under this section.

560.167(1)(b) (b) "Matchmaker trade delegation event" means a trade event that is planned by the U.S. department of commerce and that has prearranged meetings between new-to-market or new-to-export eligible businesses and prospective foreign representatives and distributors.

560.167(1)(c) (c) "Trade show" means a trade event held in a country other than the United States that brings prospective foreign buyers to a central location and that is certified or coordinated by the U.S. department of commerce or the department.

560.167(2) (2) Subject to sub. (5), the department may make reimbursements totaling no more than $100,000 in a fiscal year from the appropriations under s. 20.143 (1) (c) and (ie) to eligible businesses for any of the following:

560.167(2)(a) (a) Fees for participation in a trade show or matchmaker trade delegation event.

560.167(2)(b) (b) Costs associated with shipping displays, sample products, catalogs or advertising material to a trade show or matchmaker trade delegation event.

560.167(2)(c) (c) Costs incurred at a trade show or matchmaker trade delegation event for utilities, booth construction or necessary modifications or repairs.

560.167(2)(d) (d) Costs associated with foreign language translation of brochures or product information or with the use of translation services at a trade show or matchmaker trade delegation event.

560.167(3) (3) An eligible business seeking reimbursement under this section shall submit to the department an application containing all of the following:

560.167(3)(a) (a) An export development plan and a description of how the activities for which reimbursement is sought will benefit the applicant's ability to export its product or service.

560.167(3)(b) (b) An itemized budget for expenses expected to be incurred for all of the activities for which reimbursement is sought.