The Commission may: adopt bylaws for the conduct of its business; hire consultants; and do anything necessary or convenient to carry out its powers and the purposes of this subtitle. The Commission shall: develop and update an economic development strategic plan for the State; seek ideas and advice from each region of the State to develop the economic development strategic plan; recommend to the Governor and the Secretary the program and spending priorities needed to implement the economic development strategic plan; review the allocation of financing incentives; participate in encouraging new businesses to locate in the State; conduct periodic reviews of the economic development activities of the Department, the Maryland Economic Development Corporation, the Maryland Technology Development Corporation, and the Maryland Public–Private Partnership Marketing Corporation for compliance with the economic development strategic plan; make recommendations to the Governor and the Secretary to improve economic development activities that fail to achieve economic development strategic goals or are inconsistent with priorities under the economic development strategic plan; and carry out other economic development activities that the Governor or the Secretary requests.