Bill Text: HI SCR91 | 2020 | Regular Session | Introduced

Hawaii Senate Concurrent Resolution 91 (Prior Session Legislation)

Introduced

Bill Title: Requesting The State Of Hawaii To Create A Framework Of Policies And Metrics For Building A Sustainable Economic Future.

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Introduced - Dead) 2020-03-05 - Referred to EET. [SCR91 Detail]

Download: Hawaii-2020-SCR91-Introduced.html

THE SENATE	S.C.R. NO.	91
THIRTIETH LEGISLATURE, 2020
STATE OF HAWAII

SENATE CONCURRENT

RESOLUTION

REQUESTING THE STATE OF HAWAII TO CREATE A FRAMEWORK OF POLICIES AND METRICS FOR BUILDING A SUSTAINABLE ECONOMIC FUTURE.

WHEREAS, the State of Hawaii, through the Department of Business, Economic Development, and Tourism, should implement statewide initiatives and conduct activities to stimulate business, economic diversity, and economic growth; and

WHEREAS, the State of Hawaii has limited resources and efficient use of those resources requires addressing fundamental elements, including people, education, and policies; and

WHEREAS, the State of Hawaii should develop its own path to economic growth rather than attempt to imitate the path of Silicon Valley and other technology hubs; and

WHEREAS, the State of Hawaii should focus its efforts on economic development by utilizing concepts set forth by Dr. Paul Romer, an American economist, recipient of the 2018 Nobel Memorial Prize in Economic Studies, and pioneer of the Endogenous Growth Theory;

WHEREAS, the Endogenous Growth Theory holds that investment in human capital, innovation, and knowledge are significant contributors to economic growth and that the long-run growth rate of an economy depends on policy measures such as subsidies for research and development or education; now, therefore,

BE IT RESOLVED by the Senate of the Thirtieth Legislature of the State of Hawaii, Regular Session of 2020, the House of Representatives concurring, that the State of Hawaii, through the Department of Business, Economic Development, and Tourism, is strongly urged to set policies utilizing the Endogenous Growth Theory to foster investment in human capital, innovation, and the building of knowledge; and

BE IT FURTHER RESOLVED that certified copies of this Concurrent Resolution be transmitted to the Governor and Director of Business, Economic Development, and Tourism.