STAND. COM. REP. NO.  137-14

Honolulu, Hawaii

                , 2014

RE:   H.B. No. 2481

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Sir:

     Your Committee on Economic Development & Business, to which was referred H.B. No. 2481 entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII HIGH IMPACT CENTER FOR COMMERCIALIZATION,"

begs leave to report as follows:

The purpose of this measure is to support economic development and technology commercialization in Hawaii by establishing the Hawaii High Impact Center for Commercialization to support Hawaii-based small businesses in the fields of dual-use technology, agriculture development, molecular manufacturing, humanitarian assistance, and disaster management and response.

Oceanit; Inovi Group; TeraSys Technologies; Greenpath Technologies, Inc.; Diagenetix, Inc.; and several concerned individuals testified in support of this measure.  The University of Hawaii supported the intent of this bill.  The Hawaii Strategic Development Corporation provided comments.

     Significant progress has been made by Hawaii to position itself as a leader in technology development, transfer, and commercialization over the last several years.  However, more is required to move Hawaii's technology industry into a position to support more of these endeavors.  Innovation in the science and technology fields will not only enable the State to succeed in the global marketplace, but will also support the State's sustainable economic development goals.

     Your Committee has amended this bill by changing its effective date to January 20, 2050, to facilitate further discussion.

     As affirmed by the record of votes of the members of your Committee on Economic Development & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2481, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2481, H.D. 1, and be referred to the Committee on Higher Education.

Respectfully submitted on behalf of the members of the Committee on Economic Development & Business,

____________________________

CLIFT TSUJI, Chair