17-6-502. Legislative findings -- purpose. (1) The legislature finds and declares that:
     (a) it is the policy of the state to foster and encourage economic development within the state in order to promote the general welfare of the people; and
     (b) access to capital for the creation, expansion, and retention of qualified businesses, particularly for working capital, is a serious problem that inhibits the growth of businesses, jobs, and tax revenue.
     (2) The purpose of this part is to create a job investment program that encourages and assists in the creation, development, and financing of businesses whose primary obstacle to expansion or retention of employment is access to the appropriate type and amount of financing. This financial need is particularly acute in areas of the state that are economically depressed, and emphasis should be given to projects that will be located in these areas if the projects meet the requirements of this part and rules adopted pursuant to 17-6-505 and meet acceptable levels of financial risk as determined by the loan review committee.

     History: En. Sec. 2, Ch. 559, L. 1995.