A.  There is hereby authorized the formation and incorporation of a public nonprofit corporation to be known as the “Research Park Corporation”.  Said corporation shall have its principal place of business in the appropriate municipality or parish.

B.  The purpose and functions of the corporation shall be as follows:

(1)  To promote the development of high technology industries and research in Louisiana.

(2)  To create, develop, construct, operate, manage, and finance research and development parks.

(3)  To increase opportunities for employment in Louisiana.

(4)  To promote research and development in Louisiana.

(5)  To promote cooperation between the public and the private sector with respect to research and development.

(6)  To promote and assist institutions of higher education under the management of the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College and the Board of Supervisors of Southern University and Agricultural and Mechanical College in the field of research and development.

(7)  To promote and assist the governing authority of the appropriate municipality or parish to encourage research and development, to increase opportunities for employment, and to attract high technology industries in such area.

(8)  To attract nationally prominent scientists and researchers to the appropriate municipality or parish, to Louisiana, and to Louisiana State University and Agricultural and Mechanical College and Southern University and Agricultural and Mechanical College.

(9)  To maximize the research capabilities of the state.

Acts 1992, No. 882, §1.