(1) Grants from the aeronautics economic development fund created by § 4-3-2313 may be made in all counties where the commissioner of transportation determines that such grants will have a direct impact on employment and investment opportunities in the future.
(2) Grants from the aeronautics economic development fund may be made only to local governments or their economic development organizations, other political subdivisions of the state, including airport authorities, or any subdivision of state government.
(3) Grants from the aeronautics economic development fund may be used to facilitate economic development activities related to aeronautics and aeronautics related programs and activities administered by local governments or their economic development organizations, other political subdivisions of the state, including airport authorities, or any subdivision of state government.