Menu
  • Home
  • /
  • Finance
  • /
  • Want to head the Washington State Ferries? Now is the time to apply.

State economist points out Hawaii's increase in business in repsonse to CNBC report

State economist points out Hawaii's increase in business in repsonse to CNBC report
Bill Cresenzo[1]
Reporter- Pacific Business News
This email address is being protected from spambots. You need JavaScript enabled to view it.[2]

Eugene Tian[3], chief economist for Hawaii's state Department of Business, Economic Development and Tourism, says that while cable station CNBC[4] used consistent methodology in its report that names Hawaii the second worst state for business,[5] he also points out that the state saw a net increase of new businesses in 2013 and has one of the lowest unemployment rates in the nation at 4.4 percent.

“Hawaii is always not in the the best position,” he told PBN on Thursday, pointing to state’s high cost of living, its high unionized worker rate and its lack of major corporations headquartered here.

However, Tian said that more people are moving to Hawaii, which has a population growth of 1 percent, compared to the national average of 0.7 percent.

Moreover, he said that while 5,460 businesses closed in 2013, 9,782 were established, for a net increase of 4,322 new businesses.

Sherry Menor-McNamara[6], p resident and CEO of the Chamber of Commerce Hawaii, said her group has worked to improve Hawaii's business climate by hosting a CNBC reporter, who explained the report's methodology, at a "State of Business" event.

Based on that, the chamber presented its first-ever business package[7] to the state Legislature this year.

"We are not, of course, where we need to be, but we are moving in the right direction and our improved ranking is relatively good news," Menor-McNamara said. "The chamber will continue to review these and other metrics to continually seek ways to improve our ranking as a place to do business.”

Bill Cresenzo covers residential real estate and transportation issues for Pacific Business News.

References

  1. ^ Bill Cresenzo (feeds.bizjournals.com)
  2. ^ This email address is being protected from spambots. You need JavaScript enabled to view it. (feeds.bizjournals.com)
  3. ^ Eugene Tian (feeds.bizjournals.com)
  4. ^ CNBC (www.bizjournals.com)
  5. ^ report that names Hawaii the second worst state for business, (www.bizjournals.com)
  6. ^ Sherry Menor-McNamara (feeds.bizjournals.com)
  7. ^ its first-ever business package (www.bizjournals.com)
More in this category: « New degree program at N.C. A&T to train IT specialists Mastro chartered private jet from Toronto to Portugal »
back to top