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The Legislature finds that the prospective well-being of the people of the State of Mississippi requires that the economic development of the state should be strategically, comprehensively and exhaustively planned and that the plan be reviewed and continuously updated and systematically implemented. The Legislature further finds that the state should foster open communication between government and the private sectors of our economy and that the state should provide a policy, a vision and a framework to encourage an environment conducive to entrepreneurship and rapid development in the State of Mississippi.
The Legislature hereby declares that the public policy of this state requires an overall, comprehensive and coordinated plan for maximum and accelerated economic development of the state. It is the express intent of the Legislature that such plan be developed and maintained with annual revisions as required.
There is hereby established within the University Research Center a Bureau for Comprehensive Long Range Economic Development Planning. The bureau shall be responsible for preparing and maintaining with appropriate annual updates a long range plan for the economic development of the state. The plan shall be sufficiently broad in scope so as to address all state, national and international economic, finance and demographic, natural resource and infrastructure factors relating to the overall status and economic development of the state.