REP FC 139 2014/03/18 (2012-2014)

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REPORT OF THE COMMITTEE ON FINANCE DATE: March 18, 2014 Re: Comm. No. 724/Res. No. 329-14 PLACE: Council Chambers Kona, Hawai`i TIME: 3:50 p.m. Council Chair and Members Hawai`i County Council Hilo, Hawaii 96720 Your Committee on Finance, to which was referred Resolution No. 329-14, reports as follows: Resolution No. 329-14, transmitted by Finance Director Nancy Crawford, via Communication No. 724 dated February 28, 2014, authorizes the Department of Research and Development to award funds to the Hawaii County Economic Opportunity Council (HCEOC). This resolution authorizes the Department of Research and Development to provide a grant of $113,000 to the HCEOC to supplement the creation of a Transmedia Accelerator Program. The program encourages diversification, creates employment opportunities, and supports innovation in the field of media production. Research and Development Director Laverne Omori and Acting Film Commissioner Ilihia Gionson came before Your Committee and gave a brief explanation of how the Department of Research and Development plan to boost the Hawai`i Island's film industry. She stated that in FY 2012-2013, the County only received $3 million of the State's $240 million film industry revenue due to lack of infrastructure, labor, and equipment. Director Omori stated that the County has entered into a partnership with the State of Hawai`i Strategic Development Corporation(HSDC) and with private entity, Global Virtual Studio (GVS), to build up the island's infrastructure in the areas of film and media development. HCEOC Executive Director Jay Kimura will help the County to oversee the investment. County grant funds totaling $113,000, with an additional $200,000 annually for the next three years will supplement the creation of a Transmedia Accelerator Program (TAP), set up a working studio with state-of-the-art production equipment and office space. This investment will be the first of its kind in the State of Hawai`i. Mr. David Cunningham, creator of GVS, provided a presentation, detailing the Transmedia Accelerator Program. The goal of the program is to promote economic opportunities and to build up the film and media industry in Hawai`i Island. Pursuant to Chapter 2, Article 25, of the Hawai`i County Code (2005 Edition as amended),the County may provide grant funds to 501(c)(3)nonprofit organizations providing programs and services determined to be in the public's interest. FC Report No. 139