The Commission shall: develop a strategic plan for the promotion of space, aeronautics, and aviation economic development in the State; update the strategic plan at least every 5 years; and annually report on progress in implementing the strategic plan. The strategic plan developed under subsection (a) of this section shall include a list of potential projects that further the purposes of the Commission and, for each project, describe: the estimated total cost for completion; and an assessment of the availability of external funding sources. The strategic plan developed under subsection (a) of this section may include any other information that the Commission determines to be relevant to furthering the purposes of the Commission.