The purpose of this Part is to set forth the application process, determine eligibility and codify administration by the corporation for the Industrial Effectiveness Expansion, Retention and Attraction Assistance Program to be funded from the Strategic Resurgence Fund authorized by the Omnibus Economic Development Act of 1987, chapter 839 of the Laws of 1987. The purposes of the program are to provide financial assistance to industrial firms that will create or preserve substantial numbers of jobs, assist in the expansion or retention of businesses located in New York State, assist in attracting businesses to the State, fill gaps in financing from other private and public sources, and enhance geographic areas of the State that are currently substandard or insanitary, or are in danger of becoming substandard or insanitary. The program will also seek to establish affirmative action goals for participation in projects by minorities and women.