The Tennessee central economic authority is hereby created. The Tennessee central economic authority is a public body corporate and politic and is referred to as the “authority” in this chapter. The authority is created and established for the purpose of developing the resources of the region embracing the counties of Macon, Smith, Sumner, Trousdale and Wilson, referred to as the “region” in this chapter, including the coordination of the authority's development work with related activities and programs of the Tennessee Valley authority and other federal, state and local planning and development agencies. The authority is directed to focus its activity toward economic development and improving employment opportunities in the region in a manner consistent with the state policy of industrial development and in a manner consistent with the goal of maintaining a healthy environment or improving the same.