The council shall:
(1) establish strategic economic development objectives for the state, including establishing broad objectives;
(2) provide recommendations to the executive director regarding efforts to achieve strategic economic development objectives;
(3) make recommendations to the Legislature;
(4) unify and coordinate economic development projects that have regional or statewide impact;
(5) at least once every five years, recommend to the executive director industries or groups of industries to target for economic development in the state;
(6) gather input from organizations contributing to economic development in the state, including economic opportunity agencies; and
(7) receive an annual report from the board.