Industrial Development - As enacted, makes various changes to law relative to industrial development corporations until June 30, 2028. - Amends TCA Title 7, Chapter 53.

This bill modifies Tennessee laws governing industrial development corporations to specifically support minority-owned, locally-owned, small, and women-owned businesses. It requires these corporations to establish neighborhood advisory committees that provide feedback to help promote and fund the targeted businesses. The state Department of Economic and Community Development will cover all startup costs for five years and reimburse operating expenses for four years to help these new entities get off the ground.