Economic Development Board

The predecessor to this Board, the Council of Economic Advisers, was created by executive order in 1968 to advise the Governor on economic and fiscal policy matters affecting the state, to study and report on economic trends in the state, to prepare an annual state economic report, and to make special economic and fiscal studies as deemed appropriate. The Council consisted of seven members appointed by the Governor, and was instructed not to duplicate the functions of existing agencies (Executive Order 30, November 1968). The Council functioned until March 1975, when it was abolished and replaced by the Economic Development Board. This Board continued the functions and duties of the previous Council, served as the state's economic planning agency pursuant to the federal Public Works and Economic Development Act, and received and disbursed funds made available to the state under this act. The composition of the Board has changed twice since 1975 and now consists of the heads of the Division of the Budget and departments of Agriculture and Markets, Commerce, Environmental Conservation, Labor, State, and Transportation, and other members appointed by the Governor (E.O. 7, March 1975). The Board was technically abolished by an executive order in 1978 which transferred to the Department of Commerce the responsibility to oversee economic planning, research, and distribution of funds pursuant to the federal Economic Development Act. Simultaneously, however, a new Board was reestablished within the Executive Department to act as a cabinet-level economic advisory group, and the members of the abolished board were continued as members of the reestablished board (E.O. 73, July 1978).