STAND. COM. REP. NO. 2711

Honolulu, Hawaii

RE: S.B. No. 2500

Honorable Ronald D. Kouchi

President of the Senate

Thirtieth State Legislature

Regular Session of 2020

State of Hawaii

Sir:

Your Committee on Energy, Economic Development, and Tourism, to which was referred S.B. No. 2500 entitled:

"A BILL FOR AN ACT RELATING TO HAWAII TECHNOLOGY DEVELOPMENT CORPORATION,"

begs leave to report as follows:

The purpose and intent of this measure is to appropriate funds to the Hawaii Technology Development Corporation for the small business innovation research program, manufacturing assistance program, and excelerator program.

Your Committee received testimony in support of this measure from the Hawaii Technology Development Corporation; Maui Chamber of Commerce; Elemental Excelerator; Oceanit; Makai Ocean Engineering, Inc.; The Patisserie Inc; Chamber of Commerce Hawaii; Adnoviv, Inc.; VisSidus Technologies, Inc.; Diamond Bakery Co., Ltd.; Hawaii Food Industry Association; Intelinair, Inc.; Cymz Sweet Kre8tionz Bakery; Hawaii Business Group Incorporated; Maui Economic Development Board; Tea Hawaii and Company; Hawaii Aquaculture and Aquaponics Association; RealGreen Power, Inc; Hawaii Farm Bureau; and three individuals.

Your Committee finds that the Hawaii Technology Development Corporation is a key state agency providing for the development and support of the State's manufacturing industry, which is essential to the State's economy. Your Committee further finds that the Hawaii Technology Development Corporation's three key programs are: the small business research program, manufacturing assistance program, and excelerator program, and all play important roles in providing support to the State's economy by providing financial, educational, and other types of assistance to small, local businesses. Your Committee also finds that there are numerous businesses in the State that have benefitted from these programs and continue to attest to the importance of these programs in supporting the State's economy. This measure will promote small and local businesses and manufacturing companies by providing funding to the Hawaii Technology Development Corporation to support their three key programs.

As affirmed by the record of votes of the members of your Committee on Energy, Economic Development, and Tourism that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2500 and recommends that it pass Second Reading and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Energy, Economic Development, and Tourism,

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GLENN WAKAI, Chair