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HI SCR205
Concurrent Resolution
AI Summary
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Requests the Department of Business, Economic Development, and Tourism to compile a short list of Fortune 500 companies that could potentially relocate to Hawaii.
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Directs the Department to identify means and incentives that might attract these companies to relocate to the State.
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Requires the Department to submit a report of findings and recommendations, including any proposed legislation, to the Legislature no later than twenty days prior to the convening of the Regular Session of 2022.
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Cites examples of relocation incentives used by other states including tax credits, rebates on facilities and relocation costs, and job creation requirements ranging from $50,000,000 to $1,000,000 in new investment.
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Recognizes Hawaii's competitive advantages in quality of life, weather, and clean air, and notes that COVID-19 has demonstrated the feasibility of remote work and the need for economic diversification beyond tourism.
Legislative Description
Requesting The Department Of Business, Economic Development, And Tourism To Compile A Short List Of Fortune 500 Companies That Are Suitable To Relocate To Hawaii And Identify Means And Incentives To Entice These Companies To Relocate.
Department of Business, Economic Development, and Tourism
Last Action
Report adopted. referred to the committee(s) on FIN as amended in HD 1 with none voting aye with reservations; Representative(s) Kapela, Perruso voting no (2) and Representative(s) McDermott excused (1).
4/8/2021