§ 5-403
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/md/economic-development/5-403A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–403.
(a)The General Assembly finds that:
(1)unemployment conditions exist in many areas of the State;
(2)the acquisition and improvement of facilities are essential to relieve this unemployment and establish a balanced economy in the State;
(3)the health, safety, welfare, and right of gainful employment of residents throughout the State will be promoted by the acquisition and improvement of facilities;
(4)the control or abatement of environmental pollution in the State, including noise pollution, is necessary to:
(i)protect the health, safety, and welfare of the residents of the State;
(ii)protect natural resources;
(iii)retain and attract industry and commercial enterprises; and
(iv)promote economic development;
(5)public ports in the State are valuable assets and any improvements to these ports that increase the import and export of waterborne commerce will directly benefit residents throughout the State;
(6)businesses need greater access to capital markets; and
(7)the availability of financial assistance under this subtitle will promote the economic development of the State.
(b)The purposes of this subtitle are to:
(1)relieve unemployment in the State;
(2)encourage the increase of industry and commerce and a balanced economy in the State;
(3)help retain and attract industry and commerce through measures including:
(i)port development;
(ii)the control, reduction, or abatement of environmental pollution; and
(iii)the utilization and disposal of wastes;
(4)promote economic development;
(5)protect natural resources and encourage resource recovery;
(6)encourage the creation and expansion of day care facilities in the State; and
(7)promote the health, safety, and welfare of residents throughout the State.