Economy
Breaking Down The Tesoro Refinery Closure – Part 1
Earlier this month, after a year-long unsuccessful effort to sell the facility, Tesoro announced they were shutting down their refinery while continuing to offer it for sale. The question on everyone’s mind—what does this mean for Hawai‘i? This 3-part series by UHERO Graduate Assistants Iman Nasseri and Sherilyn Wee attempts to answer those questions. Part […]
Read MoreThe Price of Paradise Revisited
In his State of the State address to the Hawaii Legislature on January 22, 2013, Governor Abercrombie proposed raising the hourly minimum wage in Hawaii from $7.25 to $8.50, a 20.7% increase. Noting that the minimum wage had not been raised in six years, the Governor was implicitly acknowledging Hawaii’s high cost of living. The […]
Read MoreThe Contribution of the University of Hawai‘i at Manoa to Hawai‘i’s Economy in 2012
The University of Hawai‘i at Mānoa (UHM) generates economic activity through its purchases from local businesses, its payment to its employees, and spending by students and visitors. This report estimates UHM’s total economic activity in the state of Hawai‘i in fiscal year 2012. Following a standard approach, we define economic impact to be the direct, […]
Read MoreDetails of the Fiscal Cliff Deal
On New Year’s Day, almost 24 hours after the deadline had passed, members of Congress approved the American Taxpayer Relief Act that shielded the majority of Americans from the effects of the “fiscal cliff”, which threatened to send the economy back into recession. The key elements of the fiscal cliff deal are the following: Up […]
Read MorePersonal Income Growth Slows in 12Q3 for HI & US
The latest data released by the US Department of Commerce Bureau of Economic Analysis (BEA) indicates that personal income growth decelerated in the third quarter of 2012 for Hawaii and the US as a whole. Despite slow growth in the most recent quarter, conditions continue to improve both locally and across the nation. PERSONAL INCOME […]
Read MoreQ & A: New Zealand’s big subsidies for the newest Hobbit film
1. IT’S A BIG WEEKEND COMING FOR THE FILM BUSINESS, WITH THE NEWEST FILM IN THE HOBBIT TRILOGY OPENING WORLDWIDE TODAY AND TOMORROW. Yes, the film is called The Hobbit: An Unexpected Journey and once again the esteemed New Zealand film director, Peter Jackson, is the creative genius behind this film. I watched the film’s trailer and […]
Read MoreQ & A: Walking the Tightropes in Europe and the United States
1. LAST NIGHT EUROPEAN FINANCE MINISTERS AND REPRESENTATIVES OF THE INTERNATIONAL MONETARY FUND MET IN BRUSSELS BUT COULDN’T REACH AGREEMENT ABOUT RELEASING SOME ALREADY PROMISED FINANCIAL AID TO GREECE. WHAT’S GOING ON IN EUROPE? That’s correct and what made the lack of agreement even more bewildering was that when the ministers entered the negotiations that […]
Read MoreUHERO State Forecast Update: Tourism Shines, Construction Clouds Lifting
Hawaii’s tourism juggernaut powers onward, but growth elsewhere remains elusive. Broader—and a bit stronger—expansion is in the pipeline. A summary of this forecast is available as a service to the public. For more detailed analysis, subscribe to UHERO’s Forecast Project.
Read MoreHawaii’s Proposed 400MW Wind Energy Project Explained
HOW WILL THE PROPOSED 400 MW WIND ENERGY PROJECT CONTRIBUTE TO THE STATE’S RENEWABLE ENERGY GOALS? Hawaii has one of the most stringent Renewable Portfolio Standard (RPS)* policies in the country as well as the highest electricity rates due to dependence on oil for electricity generation (Coffman et al., 2012). As such, renewable energy technologies […]
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