STAND. COM. REP. NO. 154

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 709

       S.D. 1

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

 

Madam:

 

     Your Committee on Economic Development and Taxation, to which was referred S.B. No. 709 entitled:

 

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

 

begs leave to report as follows:

 

     The purpose of this measure is to require the Department of Business, Economic Development, and Tourism (Department) to investigate, collect, analyze, and publish research and data to track economic progress and aid in the development and economic health of emerging growth industries.

 

     Testimony in support of this measure was received from the Department of Business, Economic Development, and Tourism and 3Point.  The Hawaii Science and Technology Council submitted comments.

 

     Your Committee finds that new and revised economic data, such as outlined in this measure, is needed if Hawaii is to accurately assess its success in expanding and diversifying economic opportunities.

 

     Your Committee has heard that the proposed requirements may be too specific, given rapid changes in emerging industries, and that the Department already has a broad mandate to collect and assess economic data.  Members of your Committee are concerned, however, that despite that mandate, the collection and analysis of critical economic data is not always available in a timely manner.  This is particularly true for emerging industries, which may require new or revised data in order to assess growth rates in comparison to traditional industries.

 

     Your Committee acknowledges the vacancies and workforce reductions that have hampered the Department's efforts, but believes this data collection is vitally important in determining how best to provide support, financial or otherwise, to new industries.

 

     It is the intent of your Committee to support both the concepts in this measure and to provide needed financial resources.

 

     Your Committee has amended this measure accordingly, to:

 

     (1)  Refine and focus the language throughout; and

 

     (2)  Appropriate an unspecified amount for fiscal years 2007‑2008 and 2008-2009.

 

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

 

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

 

 

 

____________________________

CAROL FUKUNAGA, Chair