(a) The Public/Private Partnership shall be governed by a board of directors comprised of no less than 15 members, and shall to be composed of the following: (1) The Governor, who shall serve as co-chair. (2) One member of the majority party and 1 member of the minority party of the Senate appointed by the President Pro Tempore. (3) One member of the majority party and 1 member of the minority party of the House of Representatives appointed by the Speaker of the House. (4) At least 10 additional members appointed by the Governor. Such members shall collectively represent expertise on various economic development topics, including land use planning, finance, entrepreneurial investment and incubation, workforce development, labor, higher education, and regulatory compliance. Six of these 10 members shall be chosen from a list of recommended candidates provided by the Delaware State Chamber of Commerce and the Delaware Business Roundtable. One of the 6 individuals chosen from this list of recommendations shall be appointed by the Governor to serve as co-chair. The Governor may appoint additional members as necessary. (b) No financial contribution to the Public/Private Partnership shall be required as a condition of or in connection with an appointment to the board of directors. (c) The Public/Private Partnership formed pursuant to § 8702A(5) of this title shall have the following responsibilities: (1) Work with the Division to assist early stage technology enterprises and entrepreneurs to apply for grants, loans, bonds or other financial incentives. (2) Develop the workforce and establish recruiting processes to fill talent gaps in a changing market and continually supply trained workers for an innovative, technology-based economy. (3) Recruit innovative and high-technology employers. (4) Expand international business opportunities. (5) Develop marketing strategies for long term growth. (6) Provide guidance to start-up businesses and early stage ventures, focusing on high-growth firms and industries. (7) Conduct research on trends in industry and opportunities that may impact Delaware's economy. (8) Coordinate such other activities to encourage the economic development of the State through commercial, industrial, agricultural and other enterprises to locate, remain and expand in the State. (d) The Public/Private Partnership shall submit the following annual reports, which shall be subject to Chapter 100 of this title, to the Governor and the General Assembly on or before June 30 each year: (1) Internal Revenue Service Form 990 tax returns. (2) Audited financial reports. (3) The organization's conflict, audit and expense policies. (e) The Public/Private Partnership shall make available for inspection corporate documents and meeting minutes upon request by the Governor or the General Assembly. (f) Any director of the Public/Private Partnership who is not a "public officer" as defined by § 5812(n)(1) of this title shall submit, on or before June 30 each year, to the General Assembly and the Governor the financial information listed in 5813(a)(1)-(5) of this title in a form substantially similar to that used by public officers to disclose financial information to the Public Integrity Commission; provided however, that any financial information submitted by such directors shall not constitute public records subject to Chapter 100 of this title. (g) The conflict of interest policy for the Public/Private Partnership shall include the following provisions: (1) All members, directors, officers, or members of any committee with powers delegated to it by the board of directors of the Public/ Private Partnership shall have a duty to disclose any actual or possible conflict of interest or financial interest related to any proposed transaction, contract, or arrangement under consideration by the Public/Private Partnership. (2) Procedures for addressing a conflict of interest, including consideration of alternatives to the proposed transaction, contract, or arrangement that do not present a conflict of interest. (3) Procedures to determine whether a violation of the conflict of interest policy has occurred. (4) A clear statement that any person found to have violated the conflict of interest policy shall be removed from that person's position. (5) Provision for periodic review of the operations of the Public/Private Partnership to ensure compliance with the conflict of interest policy and that compensation arrangements and benefits are reasonable and the result of arm's length bargaining. (h) The Division shall: (1) Be responsible for attracting new investors and businesses to the State, promoting the expansion of existing industry, assisting small and minority-owned businesses, promoting and developing tourism and creating new and improved employment opportunities for all citizens of the State at every economic level, provided that such development is carried out with a view to preserving existing agriculture, commercial, industrial and recreational opportunities to be had within the State and conserving the natural resources and wildlife of the State. (2) Act as the Governor's principal staff agency in economic development matters; make studies and investigations, insofar as they may be relevant to the State's economy, of the resources of the State and of existing and emerging problems of agriculture, industry, commerce, transportation and other matters affecting the development of the State and, in making such studies, seek the cooperation and collaboration of the appropriate departments, boards, commissions, agencies and instrumentalities of federal, state and local government, educational institutions and research organizations, whether public or private, and of civic groups and private persons and organizations; render advice and act as the Governor's designated agency in the execution of such matters relating to its powers as the Governor may request. (3) Provide information to, and cooperate with, the General Assembly or any of its committees in connection with studies relevant to the overall development of the State's economy. (4) Cooperate with, and within the limitations of its appropriations, provide requested assistance to county or local governments in the State, or any of their instrumentalities; and cooperate with and assist departments and other agencies or instrumentalities of federal, state and local government, as well as regional, metropolitan, county, municipal or other local or private agencies in the execution of their functions with a view to harmonizing their development activities with the overall development plans and policies of the State. Whenever cooperation or assistance under this subdivision includes the rendering of technical services, such services may be rendered free or in accordance with an agreement for reimbursement. (5) Provide information to officials of departments, boards, commissions, agencies and instrumentalities of state and local government, to civic and other groups, and to the public at large in order to foster public awareness and understanding of the objectives of a strong state economy and to stimulate public interest and participation in the orderly and integrated development of the State. (6) Accept and receive, in furtherance of its function, funds, grants and services from the federal government or its agencies, from departments, agencies and instrumentalities of state or local government or from private and civic sources. (7) Collect, compile and audit the information and data necessary to discharge its principal functions. Where such data cannot be secured from federal, state or local agencies or private organizations, the Division may engage in the required research. Before publishing any historical information, the information shall be reviewed and approved by the Department of State of the State. (8) Perform and be responsible for the performance of all powers, duties and functions heretofore vested in the Delaware Office of Economic Development immediately prior to July 1, 2017, and the powers, duties and functions heretofore vested in the Division of Economic Development of the Department of Community Affairs and Economic Development immediately prior to November 1, 1981. (9) Exercise all other powers necessary and proper for the discharge of its duties. (i) The Public/Private Partnership and the Division will coordinate on proposed economic development projects for consideration by the Council, as necessary.
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