|The Maui Research & Technology Park was created in an effort to help diversify Maui County’s economy. The economy was at the time heavily dependent on tourism and agriculture, and the aim of the Park was to create the “third leg of the stool”, adding technology jobs on Maui and making the overall economy more robust through diversity. Since that time, the island’s agricultural sector has been in decline, and the tourist economy has shown its volatility with the changes in the broader economy. The goal of economic diversification remains more important now than ever.
However, the Park’s mission has only been partially fulfilled. After twenty years of development, the Park remains only 10% developed, approximately 40 acres out of 400. This development has not been insignificant—the Park includes about 400 employees in high-paying, high technology jobs. However, the breadth and depth of employment opportunities is less than hoped for when the park was conceived years ago. At their best, technology parks act not only as a magnet for already established businesses, but also embrace and accelerate start-up businesses by nurturing local talent and ideas.
In the time since the creation of the Maui Research and Technology Park, understanding of innovation clusters and the needs of knowledge workers and businesses has increased. Technology businesses thrive in areas of diversity and activity. A diversity of businesses and workers and availability of many startup spaces enhance the chance for success of individual businesses as well as the cluster as a whole.
Nearly 25 years after the Park was originally entitled, a comprehensive master plan update is close to completion. The update will put the park within reach of a broader range of desirable industries—and the people who work in them.
|The plans made available for download below are conceptual and subject to change during the master plan update process.|