The High Technology Development Corp. (HTDC) has received many comments and questions about our planned Innovation Block and the 80/80 initiative ("State plan envisions Kakaako tech park, 80K industry jobs," Star-Advertiser, Sept. 24).

We want to ensure that taxpayers and other stakeholders understand why we are undertaking the Innovation Block project and the 80/80 initiative and would like to correct some misconceptions.

The 80/80 initiative is our statewide goal to create 80,000 new tech and innovation jobs earning more than $80,000 a year by 2030.

Tech and innovation jobs are found in businesses across a wide range of industries and sectors, including agriculture, manufacturing, renewable energy, health care and creative media and design.

To reach the 80/80 goal will require the public and private sectors working together to develop the capital, talent and infrastructure — including expanded broadband access — required for innovation to thrive.

Our mission is to create the kinds of jobs that will enable talented local kids to stay in Hawaii.

The 80/80 goal is bold because to have a meaningful impact we must do things differently. We already have almost 80,000 innovation and tech jobs, but these are increasing at only 2 percent each year because we have not done enough to coordinate our efforts in developing infrastructure, capital and talent. All three must be strong and in sync, which requires a significant investment.

Because the public sector does not have the resources to do this alone, the private sector has a critical role to play. We must work together to achieve the 80/80 vision and develop a strong innovation economy that will keep talent in Hawaii, while attracting prominent innovators and businesses.

The Innovation Block is a good example of how we are working toward the 80/80 vision by bringing together resources from the state Department of Business, Economic Development and Tourism, the federal government and the private sector.

The first phase of the development will include a private-sector office building and the HTDC Entrepreneurs Sandbox. The concept behind this phase is to provide a gathering spot for creatives, innovators and entrepreneurs to freely interact and share information and ideas, surrounded by all the tools and expertise needed to move ideas from concept to prototype.

This type of arrangement has become prevalent nationally for enhancing productivity and creativity, as well as generating successful startup businesses.

The Innovation Block will provide an array of creative and learning venues to draw entrepreneurs, educators and students, along with the Kakaako community, with the goal of forming a vibrant setting where people can learn and create.

The office building, which features Data House and Fisher Hawaii as anchor tenants, will generate foot traffic through a coffee shop and retail.

The adjacent 13,500- square-foot Entrepreneurs Sandbox provides amenities like a maker space lab for building physical or digital prototypes, a digital media center for video productions, and co-working space and small offices for developing businesses.

The project leverages a public-private partnership to minimize the construction cost paid by the state.

The Entrepreneurs Sandbox is funded with a $3 million federal grant from the Economic Development Administration, private sector money and some state funding.

The office building will be entirely funded by the private sector, leaving the state to pay only a small part of the first phase.

The later phases of the development will include a tech business incubator facility, which would serve as a new headquarters for HTDC and provide continued support for tech and innovation companies.

Right now we are focused only on the first phase and demonstrating the value of the project to the state and the community.