Findings and declaration of policy

(a) Findings.--The General Assembly finds the following: (1) The health, safety and general welfare of the residents of southwestern Pennsylvania are directly dependent upon the continual encouragement, development, growth and expansion of business, industry, commerce and tourism within that region. (2) Unemployment, the spread of indigence and the heavy burden of public assistance and unemployment compensation in southwestern Pennsylvania can be avoided by the promotion, attraction, stimulation, development and expansion of business, industry, commerce and tourism in that region. (3) Supplemental sources of revenue are needed by municipalities in southwestern Pennsylvania to invest in facilities that will promote economic development and tourism and improve the quality of life of their residents. (4) Supplemental sources of public and private revenue are required to improve and develop the region's existing economy and to develop new civic, convention, sports, cultural, industrial, transportation and other facilities. (5) Local governments in southwestern Pennsylvania lack adequate resources to maintain, improve and modernize the region's civic, convention, sports, cultural, industrial, transportation and other facilities, the continued availability of which is vital to the economic growth and development of southwestern Pennsylvania, to the ability of the region to compete globally for visitors, residents and investment in quality jobs at living wages and to the health, welfare, education and quality of life of the residents of the region. (b) Declaration of policy.--It is declared to be the public policy of the Commonwealth to promote the health, welfare and quality of life of the residents of southwestern Pennsylvania and to enhance economic development and employment in that region by supporting the construction of regional destination facilities and other regional growth projects for the public purpose of promoting, attracting, stimulating, developing and expanding business, industry, commerce and tourism. That purpose is declared to be a public purpose supporting the enactment of all of the provisions of this chapter and for which public money may be spent, taxes may be imposed and private property may be acquired by the exercise of the power of eminent domain.