Report Title:

Kalaeloa; Appropriation

Description:

Appropriates funds to study the feasibility of a Kalaeloa Technical Park project to enhance economic diversity.

THE SENATE

S.B. NO.

3165

TWENTY-SECOND LEGISLATURE, 2004

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to enhancing economic diversity.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. The legislature finds that a rebounding Hawaii economy offers new opportunities for Oahu's "second city" at Kapolei, an area still lacking significant job growth, which is a factor contributing to traffic gridlock into Honolulu. Development in this area would support a major component of Hawaii's twenty-first century "knowledge economy" and build a strong economic base for the area.

A Kalaeloa technical park, modeled after such successful facilities as Research Triangle Park in North Carolina, offers opportunities in biotechnology and complementary medicine, high value aquaculture and neutraceuticals, homeland security technologies, telemedicine centers, alternative energy technology and cross-cultural collaboration. Such a park could generate between twenty-five to fifty thousand quality jobs and potential total annual business revenues of $4,000,000,000 to $8,000,000,000.

A state-of-the-art technical park would also substantially enhance Hawaii's efforts to diversify our economic base and expand opportunities for existing and new businesses. This would be particularly valuable for the small business community, which currently employs over half of Hawaii's workers and represents ninety-seven per cent of all companies in the State. The emerging leaders in technology-related industries have repeatedly emphasized that smaller size organizations are producing big results in a variety of fields - a trend that will continue.

The purpose of this Act is to appropriate funds for further study regarding the feasibility of a Kalaeloa technical park project by the Hawaii community development authority.

SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $100,000, or so much thereof as may be necessary for fiscal year 2004-2005, to conduct a further study regarding the feasibility of a Kalaeloa technical park project.

SECTION 3. The sum appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2004.

INTRODUCED BY:

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