1. The corporation‘s board of directors and the chief executive officer shall determine the activities and priorities of the corporation within the general parameters of the duties and responsibilities described in this section and in this subchapter.

Terms Used In Iowa Code 15.107A

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authority: means the economic development authority created in section 15. See Iowa Code 15.102
  • Bioscience development platforms: means industries involved in any of the following:
     a. See Iowa Code 15.102
  • Board: means the members of the authority appointed by the governor and in whom the powers of the authority are vested pursuant to section 15. See Iowa Code 15.102
  • Chief executive officer: means the chief executive officer of the corporation. See Iowa Code 15.102
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: means a bioscience development corporation created pursuant to section 15. See Iowa Code 15.102
  • 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.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
 2. The corporation shall, to the extent its articles so provide and within its public purpose, do all of the following with the purpose of increasing innovation in Iowa’s economy, bringing more innovative businesses to the state, and enhancing and expanding the bioscience development platforms:

 a. Consult with the Iowa innovation council in the creation of a comprehensive strategic plan as described in section 15.117A, subsection 6, paragraph “a”.
 b. Act as an innovation intermediary by aligning local technologies, assets, and resources to work together on advancing innovation and the bioscience development platforms.
 c. Perform any functions delegated by the authority pursuant to section 15.106B, subsection 2, paragraph “d”.

 (1) In performing such functions, the corporation shall not subcontract the performance of a delegated function except as provided in subparagraph (2).
 (2) The corporation may subcontract services under the following conditions:

 (a) The services are necessary to accomplish the functions delegated to the corporation.
 (b) The contract delegating the function contains a list of the services that may be subcontracted pursuant to this subparagraph (2).
 (c) The contract delegating the function requires that any agreement to subcontract a service must be approved by the authority prior to the execution of such an agreement by the corporation.
 d. Encourage, stimulate, and support the development and expansion of the state’s economy.
 e. Develop and implement effective marketing and promotional programs.
 f. Provide pertinent information to prospective new businesses.
 g. Formulate and pursue programs for encouraging the location of new businesses in the state and for retaining and fostering the growth of existing businesses.
 h. Solicit the involvement of the private sector, including support and funding, for economic development initiatives in the state.
 i. Coordinate the economic development efforts of other state and local entities in an effort to achieve policy consistency.
 j. Collect and maintain any economic data and research that is relevant to the formulation and implementation of effective policies.
 k. Cooperate with and provide information to state agencies, local governments, community colleges, and the board of regents on economic development matters, including the areas of workforce development and job training.
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