Report Title:
Business Retention and Expansion Program; Established
Description:
Establishes a business retention and expansion program within the department of business, economic development, and tourism to oversee, support, and contract with private sector business retention and expansion programs in the State.
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2751 |
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TWENTY-THIRD LEGISLATURE, 2006 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to business retention and expansion.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 201, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§201- Business retention and expansion program; established. (a) There is established a business retention and expansion program within the department for the purpose of assisting organizations in the State that are responsible for business retention and expansion to develop programs to retain and encourage expansion of existing businesses.
(b) The business retention and expansion program shall:
(1) Execute contracts with the counties and private entities to provide services that promote business retention and expansion initiatives within the State; and
(2) Oversee the activities engaged in by the counties and private entities pursuant to contracts let under this section to ensure the proper and efficient use of public moneys.
(c) The business retention and expansion program may engage in activities or execute contracts that:
(1) Identify at-risk companies that are considering closing or relocating and address their concerns before the companies close or relocate;
(2) Identify companies ripe for expansion and ways the business retention and expansion program can assist in that expansion;
(3) Uncover businesses' needs, local factors, or trends that might lead a company to shutdown or relocate or expand;
(4) Establish on-going communications between the public and private sectors and build a pro-business attitude for local businesses;
(5) Build a knowledge base of the local economy;
(6) Result in:
(A) Fewer business failures;
(B) Increased business stability;
(C) Increased jobs;
(D) New business products and services;
(E) More opportunities for local businesses to purchase and utilize each other's products and services; and
(F) Increased exports; and
(7) Provide any other business retention or expansion service that the business retention and expansion program deems appropriate to furthering its purpose.
(d) The business retention and expansion program shall submit an annual report to the governor and the legislature not later than twenty days prior to the convening of each regular session on its activities, contracts, initiatives, partnerships, outcomes, and on any recommendations it may have on promoting business retention and expansion in the State."
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 2006-2007, for the purpose of providing funding to the business retention and expansion program established pursuant to this Act.
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, 2006.
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INTRODUCED BY: |
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