Posted on: Thursday, April 7, 2005
ISLAND VOICES
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By Edwin L. Carter Jr.
Succeeding in business in Hawai'i has always meant more than just maximizing monetary profit; it also means being a part of the community.
Looking back over three decades of my involvement in commercial and civic affairs in Honolulu, I recognize that the best and most meaningful business decisions were the ones that made sense not only from a fiscal standpoint, but also left a long-term benefit for the community and helped increase our quality of life in Hawai'i.
During my tenure at Dillingham Corp. and Bishop Trust, we placed a high priority on management development: helping young employees succeed professionally while also instilling how important it is to give back to the community. We encouraged them to take an active role in volunteering for organizations, and provided time during their workday to engage in these community efforts.
More recently, I had the honor of helping bring the USS Missouri back to Pearl Harbor. This project combined historical preservation — a benefit to the community — with fiscal prudence. The Missouri draws thousands of visitors a year and contributes to the health of our overall economy.
Senate Bill 1897 passed its final hearing, before the House Finance Committee, on Tuesday.
House Bill 1308's final hearing, before the Senate Ways and Means Committee, is scheduled for 10 a.m. tomorrow in state Capitol conference room 211.
Reach Senate Ways & Means Committee Chairman Brian T. Taniguchi at 586-6460; fax 586-6461 or e-mail sentaniguchi@ The premier reason to support an annual, dedicated land fund allocation is the tremendous leveraging power that even a small investment would reap. Currently, Hawai'i dedicates no funding to land purchase and protection, and as a result we forsake millions in available federal funding. Over 50 years in the business arena taught me that one should invest resources where it will leverage the most capital to meet goals. A $5 million annual commitment under the Legacy Lands Act by our state government could create up to $15 million of combined state/local/federal buying power — not including potential private contributions.
Now that's leverage.
Just as important is the enormous benefit of the Legacy Lands Act to our state economy. Take, for instance, the predicament of agriculture in Hawai'i. Agriculture is an important engine in our local economy, generating over $750 million in employment income per year for local workers. But skyrocketing land values threaten the viability of agriculture, especially for small family farmers.
This year alone, $2 million in USDA federal funding was offered to our state to support local Hawai'i farmers while permanently preserving agricultural lands on our scenic islands. But the funds are in danger of lapsing to Washington, D.C., because no local money has been committed as a requisite match. Last year, the state lost out on 1.6 million of these same dollars that had to be returned to the federal government because our state land fund sits empty. The Legacy Lands Act would remedy this waste.
Our economy is based squarely on our land, not only for its agricultural production but for its beauty and allure for the tourism industry. How long can we expect our businesses to flourish in the Islands if we do not invest in the protection of the beaches, valleys and open spaces that define paradise?
Finally, I write from the perspective of a grandfather and, recently, a great-grandfather. While the fiscal responsibility of investing in the protection of our landscape appeals to my business sense, at another level I have to question whether it is possible to put a price on our heritage.
I am proud that my grandchildren and great-grandchildren will be able to visit the USS Missouri and revisit the memories of my generation. I am equally concerned that future generations inherit the land, history and culture of these magnificent islands in the same or better condition as our generation did.
The Legacy Lands Act is, in my view, the cornerstone of a responsible conservation plan that respects landowners' property rights, leverages millions in funding to do the right thing, and protects our quality of life and long-term economic sustainability.
To my mind, we can't afford to not pass this responsible act.
Edwin L. Carter Jr. formerly served as vice chairman, president and chief executive officer of Bishop Trust Co. and executive vice president of Dillingham Corp. and Transamerica Corp. He currently serves in an advisory role for the Trust for Public Land-Hawai'i.
For the same reasons, I believe that the Legacy Lands Act now under consideration by our state Legislature is a prudent investment that has tremendous community benefits, and also has long-term economic benefits that make it a smart business decision for both the state and our economy.
Bill's status
capitol.hawaii.gov. For more information on the Legacy Lands Act, reach Joshua Stanbro, Trust for Public Land project manager, at joshua.stanbro@tpl.org.
