The director of the department of economic development shall:

(1) Review requests for assistance submitted by Missouri companies, including those in financial difficulty and in danger of closing;

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(2) Determine which companies that submit requests could be helped by a plan developed by a team;

(3) Select the members of a team. The members shall be composed of persons with knowledge and experience in a field which is, as nearly as possible, similar to the business. The members shall be:

(a) Experienced corporate managers on loan from successful businesses;

(b) Specialists, from businesses or institutions of higher education, in areas of finance, business modernization, manufacturing, engineering, law or marketing;

(c) Successful retired business executives; and

(d) Government officials;

(4) Supply to a team such professional, technical, legal, stenographic and clerical help as may be necessary for it to perform its duties.