STAND. COM. REP. NO. 1565
Honolulu, Hawaii
RE: H.B. No. 521
H.D. 1
S.D. 1
Honorable Ronald D. Kouchi
President of the Senate
Twenty-Ninth State Legislature
Regular Session of 2017
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred H.B. No. 521, H.D. 1, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO BUSINESS DEVELOPMENT,"
begs leave to report as follows:
The purpose and intent of this measure is to promote diversification of the State's economy.
More specifically, this measure:
(1) Establishes the high-growth grant program to provide grants to qualified businesses for specific business development purposes; and
(2) Establishes the high-growth grant program special fund to receive legislative appropriations and make grants under the program.
Your Committee received written comments in support of this measure from the Department of Business, Economic Development, and Tourism; High Technology Development Corporation; Maui Chamber of Commerce; Chamber of Commerce Hawaii; and Maui Gold Pineapple Company.
Your Committee received written comments on this measure from the Department of Budget and Finance.
Your Committee finds that diversifying the State's economy beyond service-related industries is critical to Hawaii's future. The high-growth grant program will provide grants to businesses that export products to expand their operations, improve productivity, and invest in food safety or quality control programs. Your Committee believes that the diversification of the State's economy will assist businesses and the State in becoming competitive globally.
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 H.B. No. 521, H.D. 1, S.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
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________________________________ JILL N. TOKUDA, Chair |
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