When the Estate of James Campbell officially became James Campbell Co. on Sunday, it was more than just a name change. It signaled the end of an era, and underscored a new a shift in Hawai'i's economy.

No one could have imagined when the private trust was created 107 years ago, that its $3 million in assets would amass to the $2.3 billion estate it had become by the time it expired. Nor could Campbell have envisioned that the trust he set up for his heirs would be the catalyst for many of the state's industrial parks and commercial projects, not to mention the development of Kapolei.

Over the last 10 years, more than $13 million from the Campbell Estate and Foundation went to charitable donations. In addition, the estate contributed 3,800 acres of land along the Wai'anae mountain range to The Nature Conservancy for 50 years to protect endangered species.

Of course, the estate was not without its problems. With numerous heirs to a growing fortune, it was bound to get complicated. But as one of the state's largest landowners, it was instrumental in transforming much of Hawai'i's agricultural lands to commercial.

Just one day after the family trust ceased to exist, Gov. Linda Lingle called for a key change in our economy, "from one based on land development, to one fueled by innovation and the new ideas." The timing was quite symbolic: As one economic era ended, another was just beginning.

The new James Campbell Co., which has taken over a majority of the trust's assets, is expected to build on the estate's business success in Hawai'i.

Let's hope that it shares the prudence and vision that helped its predecessor move Hawai'i toward the future, while becoming an integral part of its past.