According to a report released by the state Department of Business, Economic Development & Tourism (DBEDT), Hawaii's inflation-adjusted gross domestic product should increase by 2.8 percent in 2015. Richard Lim, the director of DBEDT, stated, "The (state's economic) fundamentals are strong with steady growth and we expect this to continue into 2015. Our labor market remains robust, with unemployment being the seventh lowest in the nation and employment levels reaching an historic high during the first nine months of the year. Visitor arrivals are on track to set another record year in 2014. The value of building permits increased 15.9 percent as of September, indicating a good year for construction next year."
DBEDT predicts that the construction industry will play a major part of Hawaii's economy in 2015, and noted that several major government projects including the Honolulu Rail Project and maintenance of the Honolulu Water Supply sewage treatment facilities, will help to stimulate the economy. The full report can be found at
DBEDT said its full report, which contains more than 100 tables, is available online at dbedt.hawaii.gov/economic/qser
Source: Honolulu Star Advertiser, 11-14-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
