STAND. COM. REP. NO. 79

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 761

       S.D. 1

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Sir:

 

     Your Committee on Economic Development, Tourism, and Technology, to which was referred S.B. No. 761 entitled:

 

"A BILL FOR AN ACT RELATING TO BUSINESS DEVELOPMENT,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to appropriate funds to the Hawaii Strategic Development Corporation to continue the programs under the HI Growth Initiative.

 

     Your Committee received testimony in support of this measure from the Hawaii Strategic Development Corporation, High Technology Development Corporation, Natural Energy Laboratory of Hawaii Authority, Chamber of Commerce Hawaii, Maui Food Innovation Center, Blue Startups, brandCrowder Inc, Comprendio, Energy Excelerator, GVS Accelerator, Hawaii Wild Side LLC, Hostfully, Reef Capital Ventures, Virtual Fantasy League Inc., and thirteen individuals.

 

     Your Committee finds that the HI Growth Initiative is designed to achieve the state economic development objectives to transform and maintain Hawaii as a place that welcomes and facilitates innovative economic activity.  Your Committee finds that the HI Growth Initiative fills a critical role in the State by providing new companies with investment and funding opportunities.  Your Committee further finds that increased funding will allow the HI Growth Initiative to support accelerator programs that are the foundation of Hawaii's growing entrepreneurial ecosystem.

 

     Your Committee has amended this measure by deleting all specific dollar amounts in the appropriation sections.

 

     As affirmed by the record of votes of the members of your Committee on Economic Development, Tourism, and Technology that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 761, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 761, S.D. 1, and be referred to your Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Economic Development, Tourism, and Technology,

 

 

 

________________________________

GLENN WAKAI, Chair