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In the month of December alone, the state of Hawaii has raised $226 million through the sale of tax-free bonds to investors. These bond sales are to help underwrite over $1.8 billion in statewide infrastructure development projects. Slated improvement projects for the island state include port development, widening of a major highway, various housing projects and even termite treatments for local schools.The Hawaii Tribune-Herald reported: "Hawaii County Mayor Billy Kenoi said he's "very grateful" hundreds of millions of dollars will flow into Hawaii Island's economy "so we can keep our workers working."
Hawaii Governor, Linda Lingle indicates her intent to keep her state's economy healthy by keeping its construction industry busy. Working with a consortium of contractors, developers, labor interests and government agencies, Hawaii has no less than 1,500 capital improvement projects now in various stages of progress. In all, Hawaii is committed to initiating $1,865,522,037 worth of new development and improvement projects. Bidding for much of the project volume stretches through 2009, and into the first quarter of 2010.
These are the type of capital investments that President-elect Barack Obama has been telling us about. The possible difference here is that Hawaii is using an investment strategy, rather than a taxation strategy, to generate the needed capital. Kudos to Hawaii Governor Linda Lingle, for overseeing the infusion of large amounts of new capital into her state, without placing the entire burden upon the taxpayers there.
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Reader Comments (Page 1 of 1)
12-27-2008 @ 2:49PM
sherry said...
We have to look at "the big picture." The days of tunnel vision are over. Our nation better wake up and smell the coffee. With all our bail outs along with the 168 billion economic stimulus package, that btw did nothing for our economy it is hard to understand why our government can't see the need to bail us out of our dependence on foreign oil. I am appalled at news stories of green technology losing hope of being furthered because of lower gas prices. How long does anyone really think this decline will last? OPEC holds the key and we are at their mercy. They just cut 2 million barrels in production a day and vow to cut more if prices don't rise again. Instead of spending billions upon billions on bailouts, why don't we instead invest in renewable energy. We have GUARANTEED returns if we do this. I just read a fascinating book by Jeff Wilson called The Manhattan Project of 2009 Energy Independence NOW .This book Is the big picture.