According to Ira Sharkansky, the mandate of the Jerusalem Development Authority involves "encouraging, planning, and initiating activities concerned with the economic development of Jerusalem and coordinating Jerusalem's economic development among government ministries, municipal officials, and other bodies."[4]:106 Established as a statutory corporation through the Jerusalem Development Authority Law 1988, by 1992 the Authority had invested over $1 billion in construction projects and initiatives relating to science and technology in Jerusalem.[5][6] The Authority was among the factors influencing the decision of Teva Pharmaceuticals in 2003 to build a facility in Jerusalem.[7] Its largest investors, according to Sharkansky, have been prominent Jews from outside Israel.[4]:112