[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR310.2]

[Page 635]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 310_SPECIAL IMPACT AREAS--Table of Contents
 
Sec.  310.2  Pressing need; alleviation of unemployment or underemployment.

    (a) The Assistant Secretary may find a pressing need to exist if the 
Region which the Project will serve:
    (1) Has a unique or urgent circumstance that would necessitate 
waiver of the CEDS requirements of Sec.  303.7 of this chapter;
    (2) Involves a Project undertaken by an Indian Tribe;
    (3) Is rural and severely distressed;
    (4) Is undergoing a transition in its economic base as a result of 
changing trade patterns (e.g., the Region is certified as eligible by 
the North American Development Bank Program or the Community Adjustment 
and Investment Program);
    (5) Exhibits a substantial reliance on a natural resource for its 
economic well-being;
    (6) Has been designated as a Federally-Declared Disaster area; or
    (7) Has a Special Need.
    (b) For purposes of this part, excessive unemployment exists if the 
twenty-four (24) month unemployment rate is at least 225% of the 
national average or the per capita income is not more than 50% of the 
national average. A Region demonstrates excessive underemployment if the 
employment of a substantial percentage of workers in the Region is less 
than full-time or at less skilled tasks than their training or abilities 
would otherwise permit. Eligible Recipients seeking a Special Impact 
Area designation under this criterion must present appropriate and 
compelling economic and demographic data.
    (c) Eligible Recipients may demonstrate the provision of useful 
employment opportunities by quantifying and evidencing the Project's 
prospective:
    (1) Creation of jobs;
    (2) Commitment of financial investment by private entities; or
    (3) Application of innovative technology that will lead to the 
creation of jobs or the commitment of financial investment by private 
entities.

                        PARTS 311	313 [RESERVED]