Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Economic Development, to which was referred S.R. No. 67 entitled:

begs leave to report as follows:

The purpose of this measure is to request the Department of Business, Economic Development, and Tourism (DBEDT) to convene an Economic Summit in October 2003, to develop and recommend a strategic plan for increasing job creation in high-demand industries, expanding Hawaii's emerging industry clusters, and maximizing Hawaii's strategic assets for growing the State's economy.

Testimony supporting this measure was received from DBEDT, Hawaii Business League, National Association of Social Workers, Hawaii Automobile Dealers' Association, AlohaCare, Hawaii Youth Services Network, and Hale 'Opio Kaua'i, Inc.

Your Committee finds that Hawaii's economy is comprised of various sectors, including tourism, technology, agriculture, retail, and professional services. However, every economic sector remains vulnerable to current local, national, and international economic, social, and political events. Today, more than ever, there exists a need for Hawaii's businesses to come together to focus on and discuss how to expand their businesses and the overall economy of the State. Your Committee believes that an Economic Summit will provide the appropriate venue to interact with and receive input from Hawaii's businesses and business organizations to determine how the State can facilitate economic successes in Hawaii.

Your Committee has amended this measure by broadening the scope and participating sectors of the Economic Summit.

As affirmed by the record of votes of the members of your Committee on Economic Development that is attached to this report, your Committee concurs with the intent and purpose of S.R. No. 67, as amended herein, and recommends its adoption in the form attached hereto as S.R. No. 67, S.D. 1.