Definitions

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.