§ 42-64-5. Purposes. The Rhode Island commerce corporation is authorized, created, and established to be an agency under the jurisdiction of the state's lead agency for economic development, the executive office of commerce, and to be the operating agency of the state to carry out the policies and procedure as established by the secretary, governor and the board of directors for the following purposes:

(1) To promote and encourage the preservation, expansion, and sound development of new and existing industry, business, commerce, agriculture, tourism, and recreational facilities in the state, which will promote the economic development of the state and the general welfare of its citizens; and

(2) With respect to real property other than federal land or land related to federal land, to undertake any project, except a residential facility; and

(3) With respect to federal land or land related to federal land, to undertake any project, except as those responsibilities are assigned to the Quonset Development Corporation; and

(4) To create an organization that is responsive to the needs and interests of businesses of all sizes within the state of Rhode Island and to be structured to be customer centric to enhance commerce in the state utilizing all available resources.

History of Section. (P.L. 1974, ch. 100, § 14; P.L. 1976, ch. 277, § 2; P.L. 1995, ch. 370, art. 12, § 8; P.L. 2004, ch. 351, § 1; P.L. 2004, ch. 360, § 1; P.L. 2013, ch. 243, § 3; P.L. 2013, ch. 490, § 3.)