Do you Qualify? – Details
Applying to the TAAF program is simple. GLTAAC’s staff can help determine your company’s eligibility – and there is no cost to find out if you qualify.
Here are the basic qualifications for TAAF eligiblity:
- Must have been in business at least two years
- Must be an independent company or wholly owned subsidiary with headquarters in Indiana, Michigan or Ohio (if your firm is in another state, we can refer you to the correct TAAF center).
- Sales and average employment must be down at least 5%, due in large part to import competition.
If the basics above apply to your company, GLTAAC will request the following as a first step in confirming TAAF eligibility:
- Net Sales by month for last 28 months
Eligibility requires declining net domestic sales. Companies with exports > 5% of total sales should break out domestic sales from exports for each month. In addition, net sales of products purchased for resale must be identified and inter-company sales must be eliminated. (Note: Net sales figures used must agree with your monthly income statements, which will eventually be needed for your company’s application/Petition.)
- Employee headcount by month for last 28 months
Monthly employment numbers must agree with your state unemployment insurance quarterly reports. (Note: the summary page of each quarterly report, which lists headcount by month, will be needed as part of your company’s petition.)
- If net sales and average employment show at least a 5% decline, GLTAAC can begin to develop your TAAF Petition.
We’ll request additional information as we develop your application/Petition, including:
- Customer information – 4 customers with declining sales over the petition period, including their contact information and sales volumes.
GLTAAC must contact all 4 and at least one must confirm moving to imported products. (Note: we’ll discuss and plan with you before contacting any of your customers!)
- Financial statements for the two most recent fiscal years and the petition period, if different
Income statements and balance sheets – for the two prior fiscal years (from your accountant, if available). Also, monthly income statements for the petition period and balance sheets for the end of the petition period.
- Descriptive summary information about your company
Related firms, ownership, managers and directors, products and markets, plant locations, other information about the firm required for the petition.
All information is treated with the utmost confidentiality.