There is authorized, created, and established within the state of Rhode Island, the East Bay Economic Initiative as a body corporate and politic, having a distinct legal existence from the state and from the municipalities in the East Bay, with the purposes to promote and expand boating, boat building, outfitting, and related industries, to create jobs in these industries, and to make fuller use of facilities and resources by these industries, in the East Bay specifically and Rhode Island generally.
R.I. Gen. Laws § 42-126-4