KRS 154.50-313: Purpose.

The purpose of KRS 154.50 -301 to 154.50 -346 is to create local industrial development

authorities to aid in the acquisition, retention and development of land for industrial and

commercial purposes in Kentucky; to aid in the development and promotion of in dustrial

sites, parks and subdivisions for accommodating industrial and commercial needs; to

promote and stimulate the acquisition, retention and development of land for industrial

and commercial purposes in Kentucky by other local development organization s both

public and private.