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The Honolulu Advertiser
Posted on: Saturday, May 30, 2009

BUSINESS BRIEFS
Festival hopes to lure more visitors

Advertiser Staff and News Services

Hawaii news photo - The Honolulu Advertiser

A performer entertained the crowd at the 2006 Pan-Pacific Festival parade. This year's festival is June 5 to 7.

ADVERTISER LIBRARY PHOTO | 2006

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The Pan-Pacific Festival celebrating 30 years of promoting relationships between Hawai'i and the Pan-Pacific region will meet from June 5 to 7 and organizers hope it will help boost slumping tourism.

Last year, the festival attracted nearly 3,000 visitors. Statewide revenue was more than $7.8 million with nearly $220,000 generated in tax revenue.

Festival organizers said numbers could be higher due to the significance of its 30th anniversary and because the 2009 Pan-Pacific Festival has been officially sanctioned by the Hawai'i 50th Anniversary of Statehood Commission. It also is being sanctioned by the United Nations as a "Friends of the United Nations" event.

ECONOMIC INDICATORS CONTINUE FALL

An index of Hawai'i's current economic indicators fell for a 15th consecutive month in April, though the decline was the least since it began in February 2008.

The coincident index produced by the Federal Reserve Bank of Philadelphia shows Hawai'i's index fell by 0.12 percent, or less than the 0.4 percent decline nationally.

The index measures economic indicators thought to closely coincide with the overall economy such as jobs, unemployment, average hours worked in manufacturing and inflation-adjusted income. An increase in the number indicates expansion, while a decline indicates contraction.

NEW WALGREENS TO OPEN IN KAILUA

The fourth full-service Walgreens store in Hawai'i is scheduled to open tomorrow in Kailua.

The new store is occupying the former site of Price Busters, and continues the company's long-term plan to open 25 to 30 stores in the state since the first Hawai'i Walgreens opened 18 months ago.

Walgreens said the Kailua store won't have a drive-through pharmacy initially, though it plans to add one later. The store is slated to open after an 8 a.m. ceremony.

CITY AMONG FINALISTS FOR CONFERENCE

Honolulu is among three finalists still in competition to host the Asia-Pacific Economic Cooperation 2011 annual meeting, according to Mike McCartney, president and CEO of the Hawai'i Tourism Authority.

McCartney told a lunch gathering of the Pacific Asia Travel Association Thursday that Honolulu is competing with San Francisco and Los Angeles.

The annual meeting attracts 21 heads of governments from the Asia-Pacific region to discuss the economy, trade and investments. Each country usually brings large delegations that number several hundred so the meeting could attract between 10,000 and 18,000 people.

'AIEA FIRM WINS PEARL HARBOR WORK

'Aiea-based Healy Tibbitts Builders was awarded an $8.7 million contract for dock repairs at Pearl Harbor.

The work at V-1 Dock includes repairs to concrete piles and concrete wharf, replacing damaged mooring hardware, replacing deteriorated timber fender systems with new concrete piles, and installation of an oil spill containment flotation device.

The work is expected to be completed by July 2010.