Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on International Affairs, to which was referred H.B. No. 1719 entitled:

begs leave to report as follows:

The purpose of this bill is to improve Hawaii's high technology industry by appropriating $400,000 for the High Technology Development Corporation (HTDC) to establish an International Business and Technology Incubator Program (Incubator Program).

HTDC supported this bill.

Your Committee finds that an Incubator Program will assist foreign technology companies in establishing operations in Hawaii. This program would help to invigorate the local technology industry, provide additional jobs and tax revenue for Hawaii, and strengthen relationships with foreign companies.

As affirmed by the record of votes of the members of your Committee on International Affairs that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1719 and recommends that it pass Second Reading and be referred to the Committee on Finance.