This bill mandates the Economic Development Department to compile and present an annual report detailing economic development projects funded with public support under the Local Economic Development Act. The report will include information such as the total public support provided, details on each qualifying entity, job creation statistics, and the economic impact of the projects. Additionally, the department is required to publish this report on its website while ensuring that no confidential or proprietary information about the qualifying entities is disclosed.

Furthermore, the bill amends existing laws to enhance the collaboration between the Economic Development Department, the Workforce Solutions Department, and the Legislative Finance Committee. It requires these departments to provide necessary information to the committee for evaluating economic development incentives. The Industrial Training Board is also tasked with reporting specific training data related to development training programs. The effective date for these provisions is set for July 1, 2025.

Statutes affected:
introduced version: 9-15-10, 9-26-14