Sec. 4. (a) A development authority established under this chapter shall prepare a comprehensive strategic economic development plan to serve as a roadmap to diversify and strengthen the regional economy, establish regional goals and objectives, develop and implement a regional action plan, identify ways to eliminate duplicative government services within the region, and identify investment priorities and funding sources.

     (b) The comprehensive development plan must incorporate and comply with the requirements and content for comprehensive economic development strategies under 13 C.F.R. § 303.7 and be developed with broad based and diverse community participation, and may contain the following:

(1) An analysis of economic and community development problems and opportunities including incorporation of any relevant material or suggestions from other government sponsored or supported plans.

(2) A background and history of the economic development situation of the region, with a discussion of the economy, including as appropriate, geography, population, labor force, resources, and the environment.

(3) A discussion of community participation in the planning efforts.

(4) Identification of particular strengths or assets that can be leveraged for economic benefit and goals and objectives for taking advantage of those strengths and assets to solve the economic development problems of the region.

(5) A plan of action, including suggested projects, to achieve the goals and objectives.

(6) Performance measures to be used to evaluate whether and to what extent goals and objectives have been or are being met.

(7) Strategies for:

(A) ensuring access to affordable health care;

(B) ensuring access to affordable child care;

(C) establishing workforce pipelines for those exiting recovery and reentry programs;

(D) recreation and entertainment;

(E) coordinating with local businesses to ensure the supply of high technology or high demand job apprenticeships;

(F) leveraging technology to improve delivery of government services;

(G) eliminating duplicative government services within the region;

(H) increasing the supply of affordable homes and other housing;

(I) building connectivity between the business community and local schools;

(J) incentivizing or attracting out-of-state residents and businesses to relocate to the region; and

(K) branding and marketing the region as a means to recruit and retain businesses and people.

(8) Data analyses of other workforce and quality of place measures including, without limitation, detailed information for the most recent three (3) year period for which data is available for the following:

(A) Workforce availability compared to job postings.

(B) Commercial and industrial electricity prices.

(C) Local road and infrastructure spending.

(D) Access to fixed broadband and mobile connectivity meeting Federal Communications Commission standards for businesses and residents.

(E) Total employment in firms that are zero (0) to five (5) years old.

(F) Net job creation in firms that are zero (0) to five (5) years old.

(G) Net job creation in firms that are more than five (5) years old.

(H) Venture capital invested.

(I) Summary of the region’s health related metrics including the following:

(i) Adult smoking rate.

(ii) Adult obesity rate.

(iii) Drug related deaths.

(9) The proposed projects and programs to be undertaken or financed by the development authority.

(10) The following information for each project and program included under subdivision (9):

(A) Timeline and budget.

(B) The return on investment.

(C) The projected or expected need for an ongoing subsidy.

(D) Any projected or expected federal matching funds.

As added by P.L.83-2020, SEC.2.