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1. What is MEDB?
2. What prompted MEDB's
creation?
3. What is MEDB's role?
Does MEDB have a particular role in economic development
in Maui?
4. Are there other EDBs
in Hawaii?
5. Do all the EDBs look
the same?
6. Are the EDBs independent
of each other or do they work together?
7. Who funds MEDB? What
is MEDB's annual budget?
8. Is MEDB a government
agency?
9. How is MEDB governed?
Who makes decisions about the work that MEDB does?
10. What is MEDB's track
record? What has it accomplished?
11. What is High Tech
Maui?
12. Does MEDB own the
Maui Research and Technology Park (MRTP)?
13. Does MEDB own the
Maui Research and Technology Center (MRTC)?
1. What
is MEDB?
MEDB, the acronym for Maui Economic
Development Board, Inc. is a 501(c)(3) nonprofit
corporation. It was established in 1982 to initially
focus on diversifying Maui's economy. At the time of
MEDB's formation, Maui's economy was dependent on agriculture
and tourism, both of which were vulnerable to forces
beyond the community's control. MEDB's mission now involves
taking innovative actions that strengthen existing industry
as well as diversifying through new opportunities.
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2. What
prompted MEDB's creation?
A conference on Maui's economic
future, held over 20 years ago, attracted the participation
of Maui's elected, business, and community leaders.
They explored approaches Maui could take to strengthen
its economy. Through presentations and workshops, the
conferees determined that Maui's economic future would
benefit by diversifying into the high technology arena.
It was believed that the high tech industry would create
significant and rewarding job opportunities and an incentive
for Maui's youth to return home. The participants stressed
the importance of developing the infrastructure needed
to support high tech activity already in Maui and to
attract high tech companies to locate to Maui. The conference
concluded that the greatest likelihood of success in
pursuing this mission was to create an institution whose
focus would be assisting the County with pursuing this
high tech future. Thus, MEDB was formed.
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3. What
is MEDB's role? Does MEDB have a particular role in
economic development in Maui?
MEDB remains focused on diversifying
Maui's economy, but over the years has expanded its
activities to include support for new and existing businesses
and for the infrastructure necessary to ensure a strong
economy. To assist in these endeavors, MEDB:
Encourages socially responsible
investment in Maui
- Provides leadership and encouragement
to our schools as they prepare the next generation
with the skills necessary to succeed in the 21st century
- Facilitates discussion and
provides information to help the community understand
the topics and issues confronting Maui's need to balance
economic stability with a respect for our
environmental and cultural traditions
- Initiates projects and programs
that stimulate thinking about the economy and that
enhance opportunities for economic growth
- Supports the growth of technology
industries by providing assistance to businesses, promoting
Maui as a location for technology projects, and for meetings to discuss technology
- Hosts forums to build consensus
on particular, and sometimes controversial, issues
that are critical to the decision making that faces
the citizens of Maui
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4. Are
there other EDBs in Hawaii?
Yes. While each county in the
state has an Economic Development Board, MEDB was the
first to be organized. MEDB works closely and collaboratively
with its counterparts on the neighbor islands. The EDBs have also formed a statewide nonprofit called the Economic Development Alliance of Hawaii to expand their collaborative efforts.
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5. Do all
the EDBs look the same?
All of the EDBs have a similar
mission: to support economic development in their communities.
All are not-for-profit and all work to develop appropriate
programs and projects for their counties. As community-based
organizations, all EDBs understand the needs and desires
of their respective communities and the importance of
working with the broadest base of the population within
each community. This understanding is core to the demonstrated
success of each of the EDBs.
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6. Are
the EDBs independent of each other or do they work together?
Each EDB is an independent nonprofit
corporation with its own Board of Directors and staff.
Over the years, the EDBs have worked to support one
another and to build economic stability statewide. In
1998, the EDBs formally created the Economic Development
Alliance of Hawaii (EDAH). Through this new entity,
the EDBs work collaboratively on projects that can positively
impact both their counties and the state.
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7. Who
funds MEDB? What is MEDB's annual budget?
Over the years, MEDB has received
local, state, and federal funding. It has also received
funding from private businesses, foundations, and individuals.
More than 90% of MEDB's annual budget is derived from
funds restricted to the development, implementation,
or maintenance of specific "projects." Less
than 10% of the funding is non-restricted. Nonrestrictive
funding comes primarily from donations and membership
contributions. MEDB's operating budget for 2006-2007 is approximately $3.4 million.
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8. Is MEDB
a government agency?
No. MEDB is a private, 501(c)(3)
nonprofit corporation. It is not a government agency.
Some of MEDB's projects have received funding from the
county, state, and federal governments.
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9. How
is MEDB governed? Who makes decisions about the work
that MEDB does?
MEDB is led by a capable, diverse,
and professional Board of Directors, comprised of business
leaders of small and large companies, educators, nonprofit
managers, professionals, and representatives of the
public sector. The Board is responsible for the fiscal
solvency, policies and programs of the organization.
The Board sets the goals of the agency and reviews the
progress on various activities. Staff, under the guidance
of a President/Chief Executive Officer, handles the
day-to-day decisions which are carefully determined
to meet the organization's mission and long range plan.
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10. What
is MEDB's track record? What has it accomplished?
Since 1982, MEDB has spurred
numerous initiatives that have affected the lives of
Maui residents and supported Maui's businesses. Some
examples of MEDB's work include:
- Partnering role in creation
of Maui Research and Technology Park
- Development of and continuing
program management of the Maui Research and Technology
Center, an incubator facility for attracting and housing
start up and phase in businesses
- Creation of the Business
Research Library and the annual Maui County Data Book
- Maui SEED (Science for Early
Educational Development), a program that encourages
math and science interests of our school children
- Maui High Performance Computing
Center
- High Tech Maui marketing
campaign for business development and awareness through
events, publicity and tools
- Economic Literacy initiatives
for youth and for adults
- Women In Technology project
to encourage women and girls into math, science, engineering
and technology education and careers
- AMOS Technical Conference
series on laser propagation and radar, imaging, astronomy,
small and autonomous telescope systems, adaptive optics,
high performance computing and orbital debris
- Launching Project EAST, a project-based, lab-based curriculum
- Tech Careers series to orient
high school students with available internships and
future job opportunities
- Spearheading Focus Maui Nui, a community visioning process that reached over 1,700 residents in Maui County
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11. What
is High Tech Maui?
High Tech Maui is the marketing
theme created by MEDB to promote our community's interest
in developing a high technology industry on Maui. In
collaboration with other partners who share the vision
of High Tech Maui, MEDB regularly showcases Maui's scientific
and technological resources and potential. The partners
utilize a variety of tools to market High Tech Maui
including the quarterly High Tech Maui newsletter, a
video on "The Business Side of Paradise,"
a meeting attraction program, special events, presentations,
and one-on-one meetings.
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12. Does
MEDB own the Maui Research and Technology Park (MRTP)?
No. The Maui R & T Partners,
the developer of the Park, owns the MRTP. The partnership
has its own staff and collaborates with MEDB and other
entities to promote the continued development of the
Park and Maui's emerging technology industry through
ongoing marketing efforts of the High Tech Maui campaign.
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13. Does
MEDB own the Maui Research and Technology Center (MRTC)?
No. The MRTC is a state-owned
facility, under the High Technology Development Corporation
(HTDC). MEDB worked closely with state legislators to
secure funding to create the Center, which houses numerous
start-up technology businesses and a communications
center.
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