(a) The General Assembly finds that:
(1) unemployment conditions exist in many areas of the State;
(2) the acquisition and improvement of facilities are essential to relieve this unemployment and establish a balanced economy in the State;
(3) the health, safety, welfare, and right of gainful employment of residents throughout the State will be promoted by the acquisition and improvement of facilities;
(4) the control or abatement of environmental pollution in the State, including noise pollution, is necessary to:
(i) protect the health, safety, and welfare of the residents of the State;
(ii) protect natural resources;
(iii) retain and attract industry and commercial enterprises; and
(iv) promote economic development;
(5) public ports in the State are valuable assets and any improvements to these ports that increase the import and export of waterborne commerce will directly benefit residents throughout the State;
(6) businesses need greater access to capital markets; and
(7) the availability of financial assistance under this subtitle will promote the economic development of the State.
(b) The purposes of this subtitle are to:
(1) relieve unemployment in the State;
(2) encourage the increase of industry and commerce and a balanced economy in the State;
(3) help retain and attract industry and commerce through measures including:
(i) port development;
(ii) the control, reduction, or abatement of environmental pollution; and
(iii) the utilization and disposal of wastes;
(4) promote economic development;
(5) protect natural resources and encourage resource recovery;
(6) encourage the creation and expansion of day care facilities in the State; and
(7) promote the health, safety, and welfare of residents throughout the State.