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(1) The commission shall:
(a) develop, coordinate, and lead a comprehensive statewide economic development strategy that:
(i) unifies and coordinates economic development efforts in the state;
(ii) includes key performance indicators for long-term progress toward the state strategic goals;
(iii) establishes reporting and accountability processes for the key performance indicators; and
(iv) ensures the success of the statewide economic development strategy is shared among the urban and rural areas of the state;
(b) receive feedback, input, and reports from economic opportunity agencies regarding programs related to the statewide economic development strategy;
(c) develop the statewide economic strategy in view of the state water policy described in Section 73-1-21, including the state's commitment to appropriate conservation, efficient and optimal use of water resources, infrastructure development and improvement, optimal agricultural use, water quality, reasonable access to recreational activities, effective wastewater treatment, and protecting and restoring healthy ecosystems;
(d) direct and facilitate changes to or recommend elimination of economic development programs to ensure alignment with the mission and vision described in Section 63N-1a-103;
(e) at least once every five years, identify industry clusters on which the commission recommends the state focus recruiting and expansion efforts;
(f) establish strategies for the recruitment and retention of targeted industry clusters while respecting the different needs of rural and urban areas throughout the state;
(g) establish strategies for supporting entrepreneurship and small business development in the state;
(h) analyze the state's projected long-term population and economic growth and plan for the anticipated impacts of the projected growth in a manner that improves quality of life and is consistent with the statewide economic development strategy and state strategic goals;
(i) identify gaps and potential solutions related to improving infrastructure, especially as related to the state's projected long-term population growth;
(j) support the development of a prepared workforce that can support critical industries and industry clusters identified by the commission;
(k) coordinate and develop strategies that assist education providers and industry to cooperate in supporting students in developing market relevant skills to meet industry needs;
(l) develop strategies and plans to ensure comprehensive economic development efforts are targeted to the unique needs of rural areas of the state;
(m) study the unique needs of multicultural communities throughout the state and develop household-level plans to ensure residents of the state can participate in economic opportunities in the state;
(n) ensure the commission's efforts are, to the extent practicable, data-driven and evidence-based;
(o) support an integrated international trade strategy for the state;
(p) facilitate coordination among public, private, and nonprofit economic opportunity agencies; and
(q) in performing the commission's duties, consider the recommendations of the subcommittees described in Chapter 1b, Commission Subcommittees.
(2) The commission shall provide a report to the office for inclusion in the office's annual written report described in Section 63N-1a-306, that includes:
(a) the statewide economic development strategy;
(b) a description of how the commission fulfilled the commission's statutory purposes and duties during the year, including any relevant findings;
(c) the key performance indicators included in the statewide economic development strategy, including data showing the extent to which the indicators are being met; and