SSTI Digest

A number of bills to strengthen Hawaii's science and technology standing were passed during the final days of the legislative session.

The High Technology Development Corporation has been empowered to issue $100 million in special purpose revenue bonds for the development of high-technology facilities and office space under an act Governor Ben Cayetano signed during the last week of April. Effective immediately, the act allows bond monies to be used as incentive or inducement financing to attract technology companies to the state as the interest rates on the bonds are lower than current bank loan rates. A copy of the act is available at: http://www.capitol.hawaii.gov/sessioncurrent/bills/hb2443_hd2_.htm

Earlier this month, Governor Ben Cayetano released The New Millenium Growth Strategy for Hawaii's Economy, an economic development plan to improve the state's performance in a knowledge-based economy. The 90-page report, penned by the Department of Business, Economic Development and Tourism, includes several new initiatives for developing and growing technology businesses as well as strengthening existing economic development efforts.

The plan hopes to have "high-tech activities permeate all sectors of Hawaii's economy." As a result, separate sections are dedicated to discussing technology-based approaches to building a stronger economy through high technology, information technology, biotechnology, defense and dual-use technology, health care, resource development, environment, and tourism. The plan also identifies and addresses proposals for workforce training and infrastructure capacity needs for a technology-based economy.

Nola Miyasaki is serving as Acting Executive Director and CEO of the Hawaii High Technology Development Corp