A new report by the University of Hawaii says there will be continued recovery and expansion for the economy of Kauai through 2016.
According to the annual report, noting that the visitor industry has led Kauai’s economic recovery since the recession of 2008-2009.
Senior Research Fellow with the UH Economic Research Organization (UHERO) Dr. Byron Gangnes says that the recovery will expand to more industries.
“The employment picture has improved considerably, and significant income gains are on the way,” Dr. Gangnes said. “Construction, which has lagged the rest of the state, has finally begun to edge upward. This will provide additional support for moderate growth over the next several years.”
The report is part of a contractual agreement between UHERO and the Office of Economic Development (OED), which will also include access to an interactive database of Kauai-specific economic statistics, which should be live via the OED website by the end of December 2014.
“Providing current economic data and statistics is a vital role that our agency can play in supporting businesses on Kauai,” OED Director George Costa said. “The statistical database will be useful for research, forecasting, business planning and grant writing.”
The full UHERO report can be accessed on the Kauai County’s website.