§201-19 Research and statistics for growth industries. (a) The department shall maintain a program for the purpose of:

(1) Measuring and analyzing new economic development trends within growth industries such as:

(A) Ocean sciences and technology;

(B) Biotechnology and life sciences;

(C) Astronomy;

(D) Technology and information services;

(E) Film and creative media;

(F) Diversified agriculture;

(G) Aquaculture; and

(H) Specialty tourism;

(2) Providing economic information to policy makers, the public, and the various growth industries under paragraph (1) for use in setting policies, objectives, and goals. This includes collecting, analyzing, and publishing available data on an annual basis relating but not limited to:

(A) Economic diversification, income and income distribution, and issues and measures of the State's natural resources in relation to state sustainable economy goals;

(B) The technology sector of the State, including but not limited to defining the sector, estimating employment, and compiling available information on patents registered in Hawaii;

(C) Technology change in the economy, including but not limited to technical jobs outside the technology sector, and the changing applications of technology in the private economy and government;

(D) The technology-based workforce, including but not limited to management, technical, and professional jobs, and technology education and training;

(E) Innovation and enterprise, including but not limited to available information on startup companies, venture capital investment, private and government research and development activities, small business innovation research grants, and technology licensing;

(F) The dollar value of research and development conducted at, or in association with, the University of Hawaii;

(G) Global connections, including but not limited to diversification of export and visitor markets, foreign business travel, and the manufacturing of export products; and

(H) Venture capital investments in Hawaii, including but not limited to the size of local venture investments and their annual growth.

(b) The department shall submit to the legislature no later than twenty days prior to the convening of each regular legislative session, a report that provides an update on the criteria used to measure growth of these emerging growth industries. In updating its reports on growth of emerging industries each year, the department shall develop updated measurements and analyses in collaboration with the University of Hawaii, county economic development boards, and private, nonprofit economic research activities. [L 2007, c 148, §2; am L 2009, c 167, §1]