To serve the public interest, the Corporation develops vacant or unused industrial sites and facilities and other economic resources in which the private sector has shown no significant interest or development capability. The Corporation operates in economically distressed areas of the State. It helps State and local economic development agencies expand, modernize, and retain businesses, and attract new ones. The Board of Directors is appointed by the Governor with Senate advice and consent. It consists of twelve members, including two ex officio voting members.
Members serve four-year terms.