Governor Outlines Plan to Boost Economy
Governor Linda Lingle delivered an update on Hawai`i's economy and presented a six-point plan for immediate steps to improve current conditions at an event celebrating Occidental Underwriters of Hawai`i's 75th anniversary.
Governor Lingle outlines a six-point plan to boost Hawai`i's economy at an event celebrating Occidental Underwriters of Hawai`i's 75th anniversary.
The Lingle-Aiona Administration's plan calls for investing in infrastructure and capital improvement projects; lowering business fees and providing tax relief; attracting outside investments, especially in renewable energy; increased visitor industry promotion and marketing, with a focus on California; expanding the innovative use of federal Temporary Assistance for Needy Families (TANF) funds; and maximizing federal dollars and partnerships.
"Investments in critical infrastructure and capital improvement projects are vital to the state's economic engine," said Governor Lingle.
The Governor has released close to $60 million in the past month for school improvements and $60 million for construction backlog at UH campuses statewide. In addition, the Lingle-Aiona Administration is focused on implementing the $615 million harbors modernization plan, $2.3 billion airports modernization plan and statewide highway improvements.
In light of reduced revenue forecasts by the Council on Revenues, Governor Lingle has also called on her Cabinet members to pursue opportunities for federal partnerships to assist the state.
Recent federal-state partnerships include $175 obtained by the Department of Human Services in federal support for hospitals since 2005; $6.5 in national grants for the Department of Labor and Industrial Relations to assist displaced workers; and nearly $1 million from NASA last year to develop robotics programming in Hawai`i for the next four years.
These initiatives, and other successful efforts by the Lingle-Aiona Administration to improve the foundation of Hawai`i's business and investment climate have been recognized nationally.
Hawai`i jumped 10 spots higher than last year in Forbes magazine's annual list of best states to do business. This year, Hawai`i ranked 27th, compared to 37th in 2007 and 42nd in 2006. The survey takes into account six criteria, including business costs, labor pool, regulatory environment, growth prospects, economic climate and quality of life.
Forbes ranked Hawai`i 4th in the nation for economic climate and 10th in the nation for labor.
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Read a transcript of the Governor's remarks.
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Visit http://hawaii.gov/gov/economy to learn more about Hawai`i's economy.
