That is correct, it is created where the separate elements can be resized, removed or color corrected.
The two formats provided at the end of the contest are .eps & .jpg.
The .eps is the editable version, where the .jpg is a flattened image.
Any print shop, sign company or web designer should be able to easliy manipulate the
.eps if needed.
Let me know if you need anything else.
Thanks,
Don