A. In addition to the authority granted under section 11-254, a board of supervisors may appropriate and spend public monies for and in connection with economic development activities.

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B. To fund economic development activities under this section, a county shall not impose a new fee or tax on a single specific industry or type of business.

C. For the purposes of this section, "economic development activities" means any project, assistance, undertaking, program or study, whether within or outside the boundaries of the county, including acquisition, improvement, leasing or conveyance of real or personal property or other activity, that the board of supervisors has found and determined will assist in the creation or retention of jobs or will otherwise improve or enhance the economic welfare of the inhabitants of the county.