§ 42-64.1-2. Legislative findings.
(a) It is found and declared that there exists in our state a condition of substantial
and persistent unemployment and underemployment that causes hardship to many individuals
and families, wastes vital human resources, increases the public assistance burdens
of the state, impairs the security of family life, contributes to crime and delinquency,
prevents many of our youths from continuing their education, impedes the economic
and physical development of municipalities and adversely affects the welfare and prosperity
of our state; that many existing industrial and business facilities in our state are
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§ 42-64.1-2. Legislative findings.
(a) It is found and declared that there exists in our state a condition of substantial
and persistent unemployment and underemployment that causes hardship to many individuals
and families, wastes vital human resources, increases the public assistance burdens
of the state, impairs the security of family life, contributes to crime and delinquency,
prevents many of our youths from continuing their education, impedes the economic
and physical development of municipalities and adversely affects the welfare and prosperity
of our state; that many existing industrial and business facilities in our state are
obsolete and inefficient, and dilapidated; that many of these facilities are under
utilized or in the process of being vacated, creating additional unemployment; that
there exists an acute shortage of land suitable for industrial and business development;
that new industrial and business facilities are required to attract and house new
industries and businesses and allow expansion and improvement of existing industry
and business and thereby reduce the hazards of unemployment; that unaided efforts
of private enterprises have not met and cannot meet the needs of providing new industrial
and business facilities due to problems encountered in assembling suitable building
sites, lack of adequate public service, unavailability of private capital for development,
and the inability of private enterprise alone to plan, finance, and coordinate industrial
and business development; that the economic insecurity attendant to this chronic and
new unemployment and the absence of new 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 a vigorous and growing economy,
to prevent economic stagnation and to encourage the creation of new job opportunities
in order to ameliorate the hazards of unemployment and underemployment, reduce the
level of public assistance, increase revenues to the state and its municipalities
and to achieve a stable diversified economy.
(c) It is found and declared that assisting the Rhode Island economic development corporation,
as defined below (hereinafter referred to as the "economic development corporation�),
to acquire and improve land and facilities for industrial and business purposes are
public uses and purposes for which public moneys may be expended.