1. (1) The corporation may make grants of up to $50,000 for the preparation or modification of regional strategic plans. Assistance provided by the corporation pursuant to this section shall be made available to one applicant per region annually, and may be applied to operating expenses; provided, however, that in cities with a population of one million or more, assistance shall be made available to no more than two applicants per region annually, not to exceed $100,000 in total assistance for regional strategic planning to such city annually.

2. (2) Each regional strategic plan shall contain:

   1. (i) a profile of the region's economy, population, and resources, including:

      1. (a) a description of the region's present economy and changes in progress, and major private and public employers;
      2. (b) a description and analysis of the region's economic history and recent trends, and the principal reasons for decline or growth of various sectors of the economy;
      3. (c) a description of the region's infrastructure, including major highway, transit, rail, air, and port facilities, sewerage and water facilities, gas, electric and telecommunication facilities, and industrial parks; an analysis of their condition and adequacy, and an identification of the infrastructure improvements needed to foster regional economic development;
      4. (d) a description and analysis of the region's human resources, and the education and job-training resources available in the region; and
      5. (e) a description of past regional economic development program efforts and initiatives operating in the region, and an assessment of their successes and failures;

   2. (ii) an assessment of the region's economic strengths, weaknesses, and development opportunities, including:

      1. (a) an assessment of the strengths and weaknesses of the business base, and of forces both within and outside the region, that account, in part, for economic and business conditions; and
      2. (b) an evaluation of the specific opportunities for halting economic decline and building a stronger base for regional economic growth by major economic sector (manufacturing, services, tourism, agriculture, etc.);
   3. (iii) a discussion of long-term and short-term economic development objectives for the region, addressing problems and opportunities previously identified, and a proposal for regional economic development designed to carry out these objectives.

3. (3) Each regional strategic plan may be modified, from time to time, in accordance with the provisions hereof, to address a particular regional economic development issue, problem, or need.

   (b) Eligibility.

4. (1) Applicants eligible for regional strategic planning grants shall be limited to any not-for-profit organization, regional planning board, or degree-granting institution of higher education recommended by the regional council (including the State University of New York and its affiliates) which demonstrates the ability to coordinate a region-wide effort, employ available expertise, solicit regional public involvement, and forge a regional consensus on economic development goals and objectives.

5. (2) Regional strategic planning grants shall not be provided to:

   1. (i) the State, or any agency, department, authority, public benefit corporation or political subdivision thereof, except as otherwise expressly provided for in this section (the State);
   2. (ii) a full-time employee of the State or of any State agency, department, authority, public benefit corporation, or political subdivision (a State employee); or
   3. (iii) any entity that is controlled or a majority of which is owned by the State or a State employee.

(a) Assistance available.