STAND. COM. REP. NO. 961

Honolulu, Hawaii

RE:    S.B. No. 709

       S.D. 2

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred S.B. No. 709, S.D. 1, entitled:

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

begs leave to report as follows:

     The purpose of this measure is to assist in the development and economic health of growth industries in the State.

     Specifically, this measure requires the Department of Business, Economic Development, and Tourism to investigate, collect, analyze, and publish research and data to track economic progress of growth industries to supply economic information to policy makers, the public, and growth industries for use in setting policies, objectives, and goals.  This measure also appropriates an unspecified amount to the Department of Business, Economic Development, and Tourism to improve the State's ability to measure the productivity of and progress toward achieving innovation in Hawaii's economy.

     Your Committee received comments in support of this measure from the Department of Business, Economic Development, and Tourism.  Comments in opposition were received from Archinoctics, LLC, Island News Technologies, LLC, Hawaii Venture Capital Association, and four individuals.  Applied Marine Solutions, Archinoctics, LLC, and six individuals commented.

     Your Committee believes that data need to be collected and analyzed in a comprehensive and coordinated manner to supply necessary information to policy makers, the public, and growth industries to make informed decisions to improve Hawaii's growth industries.

     Your Committee has made technical nonsubstantive amendments for purposes of clarity and consistency.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 709, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 709, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

ROSALYN H. BAKER, Chair