The board shall:
1. Develop and coordinate the implementation of a twenty- year comprehensive economic development plan of specific goals, objectives, and policies for the state. This plan shall be updated annually and revised as necessary. All other state agencies involved in economic development activities shall annually submit to the board for its review and potential inclusion in the plan their goals, objectives, and policies.
2. Prepare a five-year strategic plan for state economic growth to implement the specific comprehensive goals, objectives, and policies of the state. All other state agencies involved in economic development activities shall annually submit to the board for its review and potential inclusion in the strategic plan their specific strategic plans and programs. The five-year strategic plan for state economic growth shall be updated annually.
3. Develop a method of evaluation of the attainment of goals and objectives from pursuing the policies of the five- year and twenty-year plans.
4. Implement the requirements of chapter 73.
5. Review and approve or disapprove a life science enterprise plan or amendments to that plan as provided in chapter 10C as that chapter exists on or before June 30, 2004, and according to rules adopted by the board. A life science plan shall make a reasonable effort to provide for participation by persons who are individuals or family farm entities actively engaged in farming as defined in section 10.1. The persons may participate in the life science enterprise by holding an equity position in the life science enterprise or providing goods or service to the enterprise under contract. The plan must be filed with the board not later than June 30, 2004. The life science enterprise may file an amendment to a plan at any time. A life science enterprise is not eligible to file a plan, unless the life science enterprise files a notice with the board. The notice shall be a simple statement indicating that the life science enterprise may file a plan as provided in this section. The notice must be filed with the board not later than June 30, 2001. The notice, plan, or amendments shall be submitted by a life science enterprise as provided by the board. The board shall consult with the department of agriculture and land stewardship during its review of a life science plan or amendments to that plan. The plan shall include information regarding the life science enterprise as required by rules adopted by the board, including but not limited to all of the following:
a. A description of life science products to be developed by the enterprise.
b. The time frame required by the enterprise to develop the life science products.
c. The amount of capital investment required by the enterprise to develop the life science products.
d. The number of acres of land required to produce the life science products.
e. The type and extent of participation in the life science enterprise by persons who are individuals or family farm entities. If the plan does not provide for participation or minimal participation, the plan shall include a detailed explanation of the reasonable effort made by the life science enterprise to provide for participation.
6. Approve the budget of the department as prepared by the director.
7. Establish guidelines, procedures, and policies for the awarding of grants or contracts administered by the department.
8. Review grants or contracts awarded by the department, with respect to the department's adherence to the guidelines and procedures and the impact on the five-year strategic plan for economic growth.
9. Adopt all necessary rules recommended by the director or administrators of divisions prior to their adoption pursuant to chapter 17A.
86 Acts, ch 1245, § 804; 86 Acts, ch 1238, § 43; 87 Acts, ch 17, § 2; 2000 Acts, ch 1197, §8, 10
Referred to in § 7E.5, 10C.3, 10C.6, 15.106
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© 2001 Cornell College and League of Women Voters of Iowa
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