Based on $2 million in annual receipts, he said, the state could wind up realizing $2,000 a year for each of the 50 acres.

He offered an acre of land for £200, and guaranteed to pay the company £300 if annual receipts had not reached £100 after five years.

Businesses with annual gross receipts of less than $50,000 would be exempt.

Except businesses with gross annual receipts of less than $150,000.

The $28 million represents about 10 percent of the state's annual receipts over 25 years from the settlement states reached with the tobacco companies.

Size standards are usually reflected in the business's number of employees and average annual receipts.

The size standard for Dredging is $20.0 million in average annual receipts.

Services - For the service industries, the most common size standard is $7.0 million in average annual receipts.

The highest annual receipts size standard in any service industry is $35.5 million.

Size standards based on annual receipts are determined by the concern's three most recently completed fiscal years.