Templeton creates economic development corporation; okay, but how has that accomplished anything under the law or pretense for creating such an entity?

 First paragraph as amended by 2016, 218, Sec. 219 effective November 7, 2016:


There is hereby authorized in each municipality in the commonwealth the organization of an economic development and industrial corporation, a public body politic and corporate, hereinafter referred to as the corporation. No such corporation, however, shall be organized, transact any business, employ any personnel or exercise any powers until the city council with the approval of the city manager, in a city having a Plan D or Plan E form of charter, or with the approval of the mayor in any other city, or by the board of selectmen in a town, shall by vote declare a need for such a corporation because unemployment or the threat thereof exists in the city or town or that security against future unemployment and lack of business opportunity is required and that attracting new industry into the municipality and substantially expanding existing industry through an economic development project or projects financed under this chapter and implemented by such a corporation would alleviate the unemployment and lack of business opportunity problems.

Look up Massachusetts General law chapter 121c;

2016 Massachusetts General Laws
PART I ADMINISTRATION OF THE GOVERNMENT
TITLE XVII PUBLIC WELFARE
Chapter 121C ECONOMIC DEVELOPMENT AND INDUSTRIAL CORPORATIONS
Section 3 Economic development and industrial corporation; authority to organize; consolidations; members of board of directors; surety bonds; compensation and reimbursements.