September 11, 2008 - Hawai`i's Economy

• Click here to listen to Governor Linda Lingle's Weekly Radio Address, presented this week by Lt. Governor Aiona.

This past week, the Council on Revenues maintained its previous forecasts of future revenues for the state. Since last year, the Council has reduced projected state income by $2.9 billion for the next six-years. 

Our Administration remains focused on developing innovative ways to maintain public service at the highest level with fewer resources, and without increasing taxes or fees. 

We are also planning additional spending restrictions and looking at opportunities to obtain additional revenues from outside sources, particularly federal funds and private investments in our high-tech and renewable-energy-related industries. It is also important that we continue to move forward on capital improvement projects for our state infrastructure and facilities.

While the previously forecasted, lower projected revenues will mean increased challenges for all of us, we are confident these challenges can become opportunities for our state.