An Ohio entrepreneur and financial planning company executive is advancing an initiative to acquire Hawaii’s second-largest dairy as part of a plan to more than double the production of local milk in the state.

Joshua Gottlieb, CEO of Hawaii Agriculture, Energy and Earth Products LLC, has an agreement to buy Cloverleaf Dairy on Hawaii island for $2 million and anticipates investing another $6 million to $8 million to improve the struggling enterprise, which is one of just two major commercial dairies left in the state.

Honokaa Land Co., a subsidiary of Gottlieb’s firm, received approval from the Legislature and Gov. David Ige earlier this year to use the state’s bond-issuing authority to sell up to $50 million in private-obligation revenue bonds to develop an agricultural enterprise through farm and property acquisitions, dairy operations, livestock feed production, compost development, greenhouse facilities and solar and wind power generation.

Acquiring Cloverleaf is one piece of that plan.

Hawaii Agriculture, Energy and Earth, or HAEE, would convert Cloverleaf to an organic dairy, expand operations and establish a new brand called Hawaii’s Favorite Dairy, according to company testimony to the Legislature in March.

Cloverleaf operations would continue during what is expected to be a two-year organic conversion, and the farm would produce 2 million gallons of milk a year after expanding, lobbyist Linda Kapuniai Rosehill said in written testimony for Gottlieb’s company.

Rosehill also said HAEE contemplates operating four dairies around the state and producing more than 10 million gallons of milk as well as cheese, yogurt and ice cream.

Last year Hawaii dairies produced about 4.1 million gallons of milk, according to the National Agricultural Statistics Service. Besides Cloverleaf, Big Island Dairy is Hawaii’s other major milk producer, and that company recently invested $10 million to process and package its milk under its own label expected to hit store shelves next month.

Cloverleaf has struggled recently in part because Hawaii’s only milk processor, Meadow Gold, reduced the price it paid for local milk last year to be more competitive with mainland milk, which Meadow Gold and others import.

Ed Boteilho Jr., Cloverleaf’s owner, arranged to sell the 54-year-old dairy last year to another experienced Hawaii dairyman, Kees Kea of Mauna Kea Moo LLC, but that $2 million deal fell through.

HAEE has an agreement to buy Cloverleaf and assume its lease for 880 acres of state land, according to a state Department of Land and Natural Resources staff report to the agency’s board.

The report recommends approval of the lease assignment, which will come before the Board of Land and Natural Resources today.

Gottlieb was not available for comment Thursday at his Ohio firm The Gottlieb Organization. Boteilho declined comment.

Scott Enright, state Board of Agriculture chairman, endorsed the acquisition in a February letter included in the DLNR report. Enright said the planned operation would become Hawaii’s first organic dairy and help reduce the state’s dependence on imported milk, which increased with the closure of eight dairies since 1999 and now represents about 80 percent of the market.

“We greatly appreciate your investment in the state and the many attributes that HAEE’s diversified agriculture initiatives will do to advance the goals of the department and the governor,” Enright wrote.

Enright in his letter also mentioned that Gottlieb’s company is participating in the federal EB-5 program for using investment capital raised from foreigners who in return receive green cards for U.S. residency.

In background material HAEE supplied to DLNR, Gottlieb is described as an innovator in the life insurance industry and an entrepreneur with a long track record of building, owning and operating a wide range of businesses. The Gottlieb Organization is a collection of companies with a focus on financial planning and wealth management, though Gott­lieb’s endeavors also range from restaurants to LED lighting manufacturing.

“His consistent ability to see things differently and identify cutting-edge solutions to complex issues and resolving problems is a hallmark of every one of his companies,” HAEE background material said.

Helping Gottlieb with the Hawaii dairy would be a team including Gary Zimmer, founder of Midwestern BioAg and owner of Wisconsin dairy and crop farm Otter Creek Organic Farm. Zimmer would be the dairy’s general manager. Michael Busselberg, another team member with dairy farm experience, is designated as on-site manager.