(1) There is created the Governor's Office of Economic Development. (2) The office is: (a) responsible for creating and implementing the 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 statewide economic development; and (b) the industrial and business promotion authority of the state. (3) The office shall: (a) consistent with the statewide economic development strategy, coordinate and align into a single effort the activities of the economic opportunity agencies in the field of economic development; (b) provide support and direction to economic opportunity agencies in establishing goals, metrics, and activities that align with the statewide economic development strategy; (c) administer and coordinate state and federal economic development grant programs; (d) promote and encourage the economic, commercial, financial, industrial, agricultural, and civic welfare of the state; (e) develop the statewide economic development strategy consistent with the state water policy described in Section 73-1-21, including the state's commitment to appropriate: (i) conservation; (ii) efficient and optimal use of water resources; (iii) infrastructure development and improvement; (iv) optimal agricultural use; (v) water quality; (vi) reasonable access to recreational activities; (vii) effective wastewater treatment; and (viii) protecting and restoring health ecosystems; (f) at least once every five years, identify which industry or groups of industries shall be targeted for economic development in the state; (g) promote and encourage the employment of workers in the state and the purchase of goods and services produced in the state by local businesses; (h) act to create, develop, attract, and retain business, industry, and commerce in the state: (i) in accordance with the statewide economic development strategy; and (ii) subject to the restrictions in Section 11-41-103; (i) act to enhance the state's economy; (j) 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; (k) act to assist strategic industries that are likely to drive future economic growth; (l) assist communities in the state in developing economic development capacity and coordination with other communities; (m) develop strategies and plans to ensure comprehensive economic development efforts are targeted to the unique needs of rural areas of the state; (n) identify areas of education and workforce development in the state that can be improved to support economic and business development; (o) develop core strategic priorities for the office, which may include: (i) enhancing statewide access to entrepreneurship opportunities and small business support; (ii) focusing industry recruitment and expansion of targeted industries; (iii) ensuring that in awarding competitive economic development incentives the office accurately measures the benefits and costs of the incentives; and (iv) assisting communities with technical support to aid those communities in improving economic development opportunities; (p) submit an annual written report as described in Section 63N-1a-306; and (q) perform other duties as provided by the Legislature. (4) To perform the office's duties under this title, the office may: (a) enter into a contract or agreement with, or make a grant to, a public or private entity, including a municipality, if the contract or agreement is not in violation of state statute or other applicable law; (b) except as provided in Subsection (4)(c), receive and expend funds from a public or private source for any lawful purpose that is in the state's best interest; and (c) solicit and accept a contribution of money, services, or facilities from a public or private donor, but may not use the contribution for publicizing the exclusive interest of the donor. (5) Money received under Subsection (4)(c) shall be deposited into the General Fund as dedicated credits of the office.
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