is supporting mid- to small-size companies in their networking endeavors by offering the Devereaux House (near the Delta Center) as an Olympic hosting facility.
Hannemann: My economists at DBED
tell me that the gross state product is expected to decline by .6 percent this year and they expect it to rise between only 1 and 2 percent next year.
"The increase was designed to combat the current recession," notes DBED
"But it did not turn out that way." Because of poor showings by both the tourism and construction industries, in June DBED
revised its previous estimate for 1992 Gross State Product growth to a scant .7 percent--a dramatic drop from its earlier prediction of a 2.5 percent hike, and less than half of the 1.5 percent rise estimated for 1991.
officials hope their program will dovetail with the potential response to a recent federal Immigration Act amendment offering permanent residence to foreign nationals who invest heavily in a U.S.
Joun of DBED
expects multifamily construction to rise 9 percent this year, fueling a 2.6 percent rise in overall home-building.
With $100,000 in legislative appropriations the state established HTDC, an agency under DBED
, to encourage the development of high-tech companies in Hawaii.
According to Brauer, the company actually owes its existence to the state DBED
, which in 1983 gave Hawaii Biotech a $20,000 grant to develop a product to detect spindle tuber disease in potatoes.
Notes Tom Smyth, head of DBED
's business services division, "Employee ownership is a benefit to the state, in that such participation boosts productivity."
"Some of the cycles will be good and some not so good, but the project will go on." Adds DBED
's Joun, "Because the construction of Kapolei is spread out over a number of years, it will be very good for the construction industry from an economic viewpoint.
"It's obvious that Hawaii shows the classic symptoms of an overheated economy," says DBED
In February of this year, Gurnee' sent a letter to both the Governor's office and to the DBED
, outlining his company's needs and requirements.