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The Honolulu Advertiser

Posted at 3:12 a.m., Saturday, June 30, 2007

Moderate economic growth expected on Kauai

Advertiser Staff

LIHU'E, Kaua'i — A report released Friday by the Kaua'i County Office of Economic Development (OED) indicates that island's economy will continue to grow at a moderate pace over the next two years.

The report was compiled by the University of Hawai'i Research Organization (UHERO), as part of an annual contract with OED to provide statistical data and economic forecast information specific to Kaua'i.

Byron Gangnes, who helped prepare the UHERO report, said, "Kaua'i's economy has been on a path of gradual deceleration for the past two years, following a period of strong growth."

In the next two years, he foresees the island's construction cycle closing in on the peak for the current cycle and visitor industry gains tapering off.

"Conditions both locally and in the U.S. economy will support a continuation of growth on Kaua'i, but at a more measured pace than that of recent years," said Gangnes.

"The good news is that our economy remains strong and jobs are plentiful," said Mayor Bryan Baptiste. "Our challenge continues to be finding ways to diversify our economy and create more higher paying jobs, while also providing the infrastructure needed to retain a skilled and productive workforce, such as affordable housing."

According to OED Director Beth Tokioka, the annual economic forecast is just one component of the county's annual contract with UHERO.

She said, "UHERO also maintains an on-line statistical database, which is updated quarterly and offers a lot of information including population and personal income growth and visitor arrivals. I encourage the public to utilize this resource and the annual report."

To access the UHERO statistical database or annual economic report, log on to www.kauai.gov and click on the business tab.