B.__Improve existing employment opportunities;

C.__Improve and broaden the tax base; and

D.__Improve the general economy of the State.

2.__ Authorization.__For the reasons set out in subsection 1, cooperating municipalities and counties may develop a program for improving an area within their collective boundaries:

A.__To provide impetus for targeted commercial development;

B.__To increase employment; and

C.__To provide the facilities outlined in the development plan submitted pursuant to section 5247, subsection 4, paragraph E.

3.__Declaration of public purpose.__The Legislature declares that the actions required to assist the implementation of these development programs are a public purpose and that the execution and financing of these programs are a public purpose.

§5246.__Definitions

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.

1.__Affiliated business.__"Affiliated business" means 2 businesses exhibiting either of the following relationships:

A.__One business owns 50% or more of the stock of the other business or owns a controlling interest in the other; or

B.__Fifty percent or more of the stock or a controlling interest is directly or indirectly owned or acquired by a common owner or owners following approval by the commissioner, whether by acquisition of substantially all of the assets, 50% or more of the stock or through a merger, consolidation or reorganization.

2.__Base level of employment.__"Base level of employment" means the greater of either the total employment of a business as of the December 31st immediately preceding its certification as a qualified Pine Tree Development Zone business or its average employment during the base period.