Hearing Set for The Invest in Hawaii Act of 2012

WHAT: The Senate Committee on Ways and Means will hear Senate Bill 2012, also known as “The Invest in Hawaii Act of 2012”

WHEN: 9 a.m., Friday, February 10, 2012

WHERE: Conference Room 211, Hawaii State Capitol

TO SUBMIT TESTIMOMY:

http://www.capitol.hawaii.gov/session2012/hearingnotices/HEARING_WAM_02-10-12_.HTM

Testimony may be submitted up to 24 hours prior to the start of the hearing.

BACKGROUND:

Garnering bipartisan support, Senate Bill 2012, is an aggressive $500 million general obligation bond-funded Capital Improvement Program package aimed at creating jobs by investing and stimulating our local economy from all corners of the state.

With Hawaii experiencing the lowest interest rates on record and significant savings made from the State’s most recent bond authorization and issuance, now is the time to invest in our State. The program will appropriate funds for shovel-ready jobs projects that will create jobs for all trades in the construction industry – from carpenters to consultants.  According to conservative estimates by the Department of Business, Economic Development, and Tourism’s (DBEDT) job multiplier, this measure could create or sustain more than 5,000 jobs.

Projects under consideration will focus on repair and maintenance needs to address aging infrastructure concerns and to extend the useful life of existing state-owned assets and facilities.  Projects will include those that address health and safety code concerns.  The State departments currently identified as part of the Program are:  the Department of Education, including the State Public Library System; the University of Hawaii, including athletic facilities; the Department of Accounting and General Services; the Department of Agriculture; the Department of Defense; the Department of Health, and health care facilities of the Hawaii Health Systems, the Department of Human Services; the Department of Land and Natural Resources; the Department of Public Safety and the Judiciary.  Funding will be allocated depending on department needs and ability to commence work immediately.

Another priority of the bill is to develop sustainable and renewable energy resources, such as photovoltaic technology.  Investing in renewable energy and upgrades to information technology initiatives throughout schools, hospitals, and office buildings will ultimately lead to cost savings and a reduction of the State’s carbon footprint.

In order to expedite the backlogged repair and maintenance projects, Senate Bill 2012 makes revisions to the State’s permitting, approval and procurement process.  As a result, the accelerated process will expedite the creation of jobs and facilitate the return to work for many of our residents.