There is hereby created an executive department of state government to be known as the Department of Economic Development. The purpose of the department is to maintain and develop the economy of the state to provide opportunities for the people which will enhance and expand the quality of their lives. The department shall promote the:
(1) Expansion of personal income through the development of business and employment opportunities which afford sufficient compensation to ensure an adequate standard of living for the people of the state;
(2) Development of an economy that contributes to and enhances the environmental quality of the state;
(3) Development of a stable economy within the state;
(4) Development of economic health and opportunities throughout the communities and counties of the state;
(5) Development of an economy which is capable of providing the necessary revenue for state government, local governments, and other political subdivisions of the state and in this way minimize the tax burden faced by all taxpayers of the state; and
(6) Structuring of the department and its staff as a nonpolitical, professionally managed division of state government.