The first Target Corp. store on the Neighbor Islands debuts today when the discounter's newest location opens at the Kona Commons shopping center on the Big Island.

Target, which opened its first Hawai'i stores on O'ahu in March, is opening a 160,000- square-foot store in Kona that will employ more than 300 people. The store will feature a pharmacy, photo service, Starbucks and Target Cafe.

Target, the nation's No. 2 discount retailer, plans to open a Hilo store in July 2011.

FIRST WIND REPORTS $191M IN FINANCING

First Wind, a wind farm developer and operator vying to become the state's largest provider of wind power, said it had received $191 million in financing, some of which will be used for development here and on the Mainland.

The Newton, Mass.-based company said it received a $115 million loan from Alberta Investment Management Corp. and a $76 million one-year loan from HSH Nordbank for a wind farm in New England.

"These investments in First Wind in the midst of very difficult financing markets show confidence in First Wind's ability to continue to develop, build and operate wind farms in our target markets," said Paul Gaynor, First Wind chief executive officer, in a press statement.

First Wind's projects here include the 30-megawatt Kaheawa Wind farm on Maui. It has four other projects in various stages of development in the state, including a 30-megawatt facility in Kahuku and a proposed 250-megawatt project on Moloka'i.

HAWAI'I ECONOMIC DECLINE TOPS U.S. RATE

An index of Hawai'i's economic indicators fell for a 17th consecutive month in June, with the state decline outpacing the nation's.

The coincident index, produced by the Federal Reserve Bank of Philadelphia, shows Hawai'i's index fell by 0.5 percent, more than the 0.3 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.