HI HR117

Request the Department of Business, Economic Development, and Tourism to compile a short list of Fortune 500 companies suitable for relocation to Hawaii.

Request identification of means and incentives that would attract these companies to relocate to the State.

Require submission of findings, recommendations, and proposed legislation to the Legislature no later than twenty days before the 2022 Regular Session convenes.

Reference successful relocation incentive programs from nine states including tax credits, grants, and rebate programs ranging from $50 million investment requirements to refundable tax credits.

Establish the request as a response to COVID-19 pandemic economic disruption and the need for business diversification beyond tourism-dependent economy.