§ 42-64.1-2 - Legislative findings.
SECTION 42-64.1-2
§ 42-64.1-2 Legislative findings. –(a) It is found and declared that there exists in our state a condition ofsubstantial and persistent unemployment and underemployment which causeshardship to many individuals and families, wastes vital human resources,increases the public assistance burdens of the state, impairs the security offamily life, contributes to crime and delinquency, prevents many of our youthsfrom continuing their education, impedes the economic and physical developmentof municipalities and adversely affects the welfare and prosperity of ourstate; that many existing industrial and business facilities in our state areobsolete and inefficient, and dilapidated; that many of these facilities areunder utilized or in the process of being vacated, creating additionalunemployment; that there exists an acute shortage of land suitable forindustrial and business development; that new industrial and businessfacilities are required to attract and house new industries and businesses andallow expansion and improvement of existing industry and business and therebyreduce the hazards of unemployment; that unaided efforts of private enterpriseshave not met and cannot meet the needs of providing new industrial and businessfacilities due to problems encountered in assembling suitable building sites,lack of adequate public service, unavailability of private capital fordevelopment, and the inability of private enterprise alone to plan, finance,and coordinate industrial and business development; that the economicinsecurity attendant to this chronic and new unemployment and the absence ofnew employment opportunities constitutes a serious menace for the safety,morals, and general welfare of the people of our state.
(b) It is declared to be the policy of the state to promote avigorous and growing economy, to prevent economic stagnation and to encouragethe creation of new job opportunities in order to ameliorate the hazards ofunemployment and underemployment, reduce the level of public assistance,increase revenues to the state and its municipalities and to achieve a stablediversified economy.
(c) It is found and declared that assisting the Rhode Islandeconomic development corporation, as defined below (hereinafter referred to asthe "economic development corporation") to acquire and improve land andfacilities for industrial and business purposes are public uses and purposesfor which public moneys may be expended.