It is hereby found and declared as follows:

(a)  The development of additional scheduled air carrier and cargo services (“air service”) to Rhode Island T.F. Green International Airport is essential to improving the overall economic climate of the state, attracting businesses, promoting tourism, and growing jobs. This additional air service is particularly important to advanced industries, industries characterized by high levels of research and development expenditures, and reliance on science, technology, design, engineering, and mathematics workers.

(b)  Providing incentives, revenue guarantees, and/or other support for new or additional air service on new or additional routes is an important step in meeting these economic development goals.

(c)  An air service development fund provides flexibility in increasing and providing incentives for air service to Rhode Island T.F. Green International Airport that the Rhode Island airport corporation may otherwise not be able to finance under the regulations and policies of the federal aviation administration. For that reason, this program is established independently of, and unrelated to, the Rhode Island airport corporation.