(A) The coordinating council shall meet at least quarterly. It shall enhance the economic growth and development of the State through strategic planning and coordinating activities that include:
(1) development and revision of a strategic state plan for economic development. "Strategic state plan for economic development" means a planning document that outlines strategies and activities designed to continue, diversify, or expand the economic base of South Carolina, based on the natural, physical, social, and economic needs of the State;
(2) monitoring implementation of a strategic plan for economic development through an annual review of economic development activities of the previous year and modifying the plan as necessary;
(3) coordination of economic development activities of member agencies of the coordinating council and its advisory committees;
(4) use of federal funds, foundation grants, and private funds in the development, implementation, revision, and promotion of a strategic plan for economic development;
(5) evaluation of plans and programs in terms of their compatibility with state objectives and priorities as outlined in the strategic plan for economic development;
(6) approval of infrastructure and other economic development grants for local units of government pursuant to Section 12-28-2910;
(7) approval of infrastructure development grants for local units of government pursuant to Section 12-21-6540.
(B) The coordinating council may not engage in the delivery of services.