Business briefs

Advertiser Staff

Grant to help train workers

The federal government has awarded the Hawaii Department of Labor and Industrial Relations a $447,500 grant to provide job training and other assistance to 153 workers who were laid off from three Big Island companies.

Penncro Associates Inc., a telemarketing and bill collection company, laid off 174 employees in March when the firm closed its Hilo office. Hotel King Kamehameha Kona Beach released 52 workers in March because of financial difficulties, while Hokulia Resort and Golf Course laid off 82 employees last November after it shut down some of its operations.

$26.9M paid for shopping center

A group of small investors has purchased the Kaua'i Village Shopping Center in Kapa'a through California-based real estate firm Passco Real Estate Enterprises for $26.9 million.

Passco made the purchase from Kaua'i Village Associates as part of a tax-exchange program that allows small investors to defer long-term capital gains.

The center, built in 1990, has 113,495 square feet of retail space and is anchored by Safeway and Longs Drugs.

Bank to open Wal-Mart site

American Savings Bank will open an in-store branch at the new Wal-Mart store on Ke'eaumouku Street scheduled to open in October, the bank announced yesterday.

The branch will offer a full line of financial services and products, including checking and savings accounts, mortgage and home equity loans, and investment advice. It will be American's second Wal-Mart branch in the state, joining one in Kahalui three years ago.