Kansas Statutes 74-5001a. Purpose of department
Terms Used In Kansas Statutes 74-5001a
- committee: means the community strategic planning grant committee established by Kan. See Kansas Statutes 74-5093
- department: means the department of commerce;
(4) "entrepreneur" means an individual creating a new business, service or product;
(5) "region" means multi-county areas as defined by the secretary of commerce;
(6) "regional business development fund" means an authorized and audited fund that is created by taxpayer contributions, interest income and investment income and is managed by the regional foundation board of directors for the purposes of economic and leadership development in the region;
(7) "regional foundation" means any organization in Kansas that demonstrates capacity to provide economic development services to regions as defined by this act, and: (A) Has obtained a ruling from the internal revenue service of the United States department of treasury that such organization is exempt from income taxation under the provisions of section 501(c)(3) or 501(c)(6) of the federal internal revenue code;
(B) has been designated as a certified development company by the United States small business administration;
(C) has been designated as an economic development district by the United States department of commerce's economic development administration;
(D) has been organized as a regional planning commission under Kan. See Kansas Statutes 74-50,154
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: means the state of Kansas. See Kansas Statutes 74-5059
The purpose of the department of commerce shall be to develop and implement strategies to:
(a) Facilitate the growth, diversification and expansion of existing enterprises and the creation by Kansans of new wealth-generating enterprises;
(b) promote economic diversification and innovation within the basic industries and sectors of the state;
(c) promote increased productivity and value added products, processes and services among wealth-generating enterprises and the export of those goods and services created by small and large Kansas enterprises to the nation and world;
(d) maintain and revitalize economically depressed rural areas and urban neighborhoods by annually targeting scarce resources by size, sector and location to communities and enterprises of particular need and opportunity and by working in close collaboration with local communities;
(e) protect and enhance the environmental quality of the state in ways consistent with dynamic economic growth; and
(f) forge a supportive partnership with the standing committee on commerce of the senate, the standing committee on commerce, labor and economic development of the house of representatives, Kansas venture capital, inc., Kansas certified development companies, Kansas small business development centers, Kansas public and private educational institutions, and other appropriate private and public sector organizations in achieving the economic goals of the state.