New Mexico Statutes 53-7A-2. Purposes
The purposes of the Economic Development Corporation Act are to:
Terms Used In New Mexico Statutes 53-7A-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A. promote, stimulate, develop and advance business, prosperity, employment and economic welfare in the state and among its citizens;
B. encourage and assist the location of new business and industry in this state and the rehabilitation and expansion of existing business and industry;
C. cooperate and act in conjunction with other organizations, public or private, in the promotion and advancement of industrial, commercial, agricultural and recreational developments in the state; and
D. provide for the creation of a nonprofit corporation with the responsibility to work with communities throughout New Mexico in effectuating these purposes in a manner that can be quantified and measured.