(a) The General Assembly finds that: (1) unemployment conditions exist in many areas of the State; (2) the acquisition and improvement of facilities are essential to relieve this unemployment and establish a balanced economy in the State; (3) the health, safety, welfare, and right of gainful employment of residents throughout the State will be promoted by the acquisition and improvement of facilities; (4) the control or abatement of environmental pollution in the State, including noise pollution, is necessary to: (i) protect the health, safety, and welfare of the residents of the State; (ii) protect natural resources; (iii) retain and attract industry and commercial enterprises; and (iv) promote economic development; (5) public ports in the State are valuable assets and any improvements to these ports that increase the import and export of waterborne commerce will directly benefit residents throughout the State; (6) businesses need greater access to capital markets; and (7) the availability of financial assistance under this subtitle will promote the economic development of the State.

s throughout the State; (6) businesses need greater access to capital markets; and (7) the availability of financial assistance under this subtitle will promote the economic development of the State. (b) The purposes of this subtitle are to: (1) relieve unemployment in the State; (2) encourage the increase of industry and commerce and a balanced economy in the State; (3) help retain and attract industry and commerce through measures including: (i) port development; (ii) the control, reduction, or abatement of environmental pollution; and (iii) the utilization and disposal of wastes; (4) promote economic development; (5) protect natural resources and encourage resource recovery; (6) encourage the creation and expansion of day care facilities in the State; and (7) promote the health, safety, and welfare of residents throughout the State.