THE SENATE

S.B. NO.

318

TWENTY-SIXTH LEGISLATURE, 2011

S.D. 1

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO BUSINESS DEVELOPMENT IN HAWAII.

 

 

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

 


     SECTION 1.  The legislature finds that innovation is an essential driver of economic growth and future competitiveness.  A thriving innovation economy promotes economic growth, fosters new technologies, creates jobs, and keeps the United States leading the global marketplace.  States across the nation and the Obama administration have committed to renewing the country's focus on innovation as a means of fostering economic growth and creating high-wage jobs throughout the nation.

     In Hawaii, the president of the University of Hawaii system recently unveiled recommendations of a draft report authored by the Advisory Council on Hawaii Innovation and Technology Advancement on how the University of Hawaii can build private sector high-wage jobs and partnerships.  Report recommendations included identifying research as an industry in Hawaii; establishing the Hawaii Innovation Technology Exchange Institute (HiTEx); encouraging collaboration by integrating entrepreneurship into the university's curriculum; and identifying security, sustainability, energy, agriculture, data analytics, and Asian-Pacific health as key areas for capitalizing on commercialization opportunities for Hawaii.

     In addition, in 2010, the senate committee on economic development and technology and the house committee on economic revitalization, business, and military affairs convened an informal small business discussion group to address the most critical issues facing the small business sectors within Hawaii's economy.  Representatives from the Chamber of Commerce of Hawaii, construction and trades industries, community nonprofits, the agricultural sector, food and restaurant industries, retailing, the science and technology sector, the commercial transportation industry, and interested stakeholders developed a package of bills that address the most pressing problems facing Hawaii's small business community.

     The purpose of this Act is to support the findings of the small business working group and the recommendations proposed by the Advisory Council on Hawaii Innovation and Technology Advancement regarding regulatory requirements faced by businesses engaged in biotechnology research, by updating the 2008 report on the growth of science and technology industries in Hawaii.  Entitled "Innovation and Technology in Hawaii:  An Economic & Workforce Profile", the report showed the increasingly important role that Hawaii's science and technology industries have played in the State's economic growth between 2002-2007, and provided projections and recommendations for future growth.

     SECTION 2.  There is appropriated out of the general revenues of the State of Hawaii the sum of $           or so much thereof as may be necessary for fiscal year 2011-2012 to update the 2008 report "Innovation and Technology in Hawaii:  An Economic & Workforce Profile".

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

     SECTION 3.  This Act shall take effect on July 1, 2011.

 


 


 

Report Title:

Business Development in Hawaii; Innovation and Technology; Appropriation

 

Description:

Appropriates funds to the department of business, economic development, and tourism to update the 2008 report "Innovation and Technology in Hawaii:  An Economic & Workforce Profile".  (SD1)

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.