(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.

(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.