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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