There is hereby created within the department of economic development a “Business Extension Service Team” program. The purpose of the teams shall be to provide technical and management assistance to Missouri businesses, to improve their competitiveness and increase their market share of the economy, to assist businesses with the introduction of improved production processes, and to assist the businesses with their job training needs. Each team shall inform the Missouri training and employment council of specific job training needs which it identifies for an individual business or general job training needs which it recommends for the state. A team may recommend that, by means of contract, feasibility studies or productivity assessments be performed for businesses. Businesses to be assisted may include those faced with employee layoffs, plant closings or financial instability. The expenses of a team shall be financed by state and federal appropriations, local governments, economic development organizations, private contributions and fees paid by assisted businesses.