The purposes of the corporation shall be to promote, stimulate, develop, and advance the business prosperity and economic welfare of the western massachusetts region and the citizens thereof, to encourage and assist, through loans, investments, or other business transactions, the location of new business and industry in the western massachusetts region; to rehabilitate and assist existing business and industry; and so to stimulate and assist in the expansion of ALL kinds of business activity which will TEND to promote the business development and maintain the economic stability of the western massachusetts region, provide maximum opportunities for employment, encourage thrift, and improve the standard of living of its citizens; and similarly to endeavor to increase and diversify industry and employment.