There has been a long standing joke that Hawaii’s economy has three main driving forces: tourism, the military, and Senator Daniel Inouye. Since becoming a Senator in 1963, Inouye had worked incredibly hard in obtaining federal funding for projects in Hawaii. From build freeways and improving the road systems, to improving military facilities, to obtaining money for education, Inouye secured tens of billions of dollars for the Hawaiian Islands. The economic significance of his passing is not lost to Hawaii economists and political leaders.
Leroy Laney, an economics professor at Hawaii Pacific University, commented, “His impact transcends military spending with projects too numerous to mention. He knows people in the Department of Transportation, the Commerce Department and the Pentagon. He knows who to call. Over the years he’s brought in a lot of money that has stimulated the economy. You just can’t replace that kind of seniority in the Senate. That’s the way the Senate works. You stay in that long to get into a position of seniority and you’re able to bring a lot of money into your home state, and he certainly does.”
Chief economists of TZ Economics, Paul Brewbaker, added, “There was no one more well respected than Sen. Inouye. It’s important to remember that he brought Hawaii a stature that it will probably have difficulty sustaining. That’s important because Hawaii’s ongoing challenge is with maintaining ‘street cred’ from an economic and business standpoint. No sooner than you achieve some credibility, it evaporates. Having someone of Sen. Inouye’s status helps with that ongoing battle.”
Source: Honolulu Star Advertiser, 12-18-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
