The County Economic Development Commission shall exercise and enjoy the rights and powers and assume the duties and obligations conferred and imposed by I.C. 36-7-12-1 et seq., Acts of 1981, Pub. Law No. 309, § 31, and all amendments, revisions and supplements thereto and I.C. 36-7-11.9-1 et seq., Pub. Law No. 20-1985, § 14, and all amendments, revision, and supplements thereto and shall have the right to exercise all powers set forth therein.