The state seeks to promote the relocation of new industries to Wisconsin, as well as the expansion of existing ones, by providing advice and assistance through the Division of Economic Development and some 280 local development corporations. It supports businesses that promise to substantially improve the economy of a community or the state; extends loans to small businesses; helps with the training or retraining of employees; and offers financial assistance for applied research that results in a new product or production process. To revitalize economically depressed areas, the state provides tax benefits to businesses locating or expanding operations in such areas and helps finance local economic development projects. Communities are authorized to issue tax-exempt bonds to enable industries to finance new equipment. In addition, all machinery and equipment used in goods production is tax-exempt under state law. In 2003, the Division was contained of three main operating bureaus: the Bureau of Business Development, the Bureau of Business Finance, and Bureau of Minority Business Development.