HI HCR151

Expresses legislative support for developing an Asia-focused fund management industry in Hawaii through the AKAMAI Foundation and other incentives to diversify the state's economy and create high-paying jobs.

Requests the Governor and executive agencies to work together on a strategy for establishing and growing the fund management industry in Hawaii, citing advantages including Hawaii's time zone, legal system, Asian cultural connections, and quality of life.

Directs the Hawaii Strategic Development Corporation to establish a task force to formulate development strategies for an Asia-focused fund management industry and report findings to the Legislature by 30 days before the 2012 Regular Session convenes.

Identifies potential benefits including expanded employment opportunities for Hawaii residents and Native Hawaiians, increased tax revenues, higher median income levels, internship opportunities, and support for finance-related education and training through programs like the AKAMAI Finance Academy.

Notes the fund management industry requires minimal capital investment, does not consume natural resources, produces no environmental harm, and would have minimal impact on traffic due to low personnel-to-assets ratios.