Legislative declaration

It is the intent of the Legislature to authorize the Director, with the approval of the Office of Economic Development, to finance, acquire, own, lease, improve and dispose of properties to: 1. Promote industry and employment and develop trade by inducing manufacturing, industrial, warehousing and commercial enterprises and organizations for research and development to locate, remain or expand in this state to further prosperity throughout the State and to further the use of the agricultural products and the natural resources of this state. 2. Enhance public safety by protecting hotels, motels, apartment buildings, casinos, office buildings and their occupants from fire. 3. Promote the public health by enabling the acquisition, development, expansion and maintenance of health and care facilities and supplemental facilities for health and care facilities which will provide services of high quality at reasonable rates to the residents of the community in which the facilities are situated. 4. Promote the educational, cultural, economic and general welfare of the public by financing civic and cultural enterprises, certain educational institutions and the preservation or restoration of historic structures. 5. Promote the social welfare of the residents of this state by enabling a corporation for public benefit to acquire, develop, expand and maintain facilities that provide services for those residents. 6. Promote the generation of electricity in this state.