The purposes of the Economic Development Corporation Act are to:
A. promote, stimulate, develop and advance business, prosperity, employment and economic welfare in the state and among its citizens;
B. encourage and assist the location of new business and industry in this state and the rehabilitation and expansion of existing business and industry;
C. cooperate and act in conjunction with other organizations, public or private, in the promotion and advancement of industrial, commercial, agricultural and recreational developments in the state; and
D. provide for the creation of a nonprofit corporation with the responsibility to work with communities throughout New Mexico in effectuating these purposes in a manner that can be quantified and measured.
History: Laws 2003, ch. 183, § 2.
ANNOTATIONSEffective dates. — Laws 2003, ch. 183 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 20, 2003, 90 days after adjournment of the legislature.