Categories: Economy

Hawaii’s Economy: Diversification through Ocean-Based Industries and Traditional Strengths

On Tuesday, the University of Hawaii Economic Research Organization released a report identifying opportunities for Hawaii to diversify its economy. The study suggests that the state could benefit from exploring ocean-based industries, such as fishing, fish farming, hatcheries, boat building, port and harbor operations, and seafood packaging. By analyzing the location patterns of industries in the US and comparing them to Hawaii’s existing industry strengths, the report identifies industries that are well-suited for the state and have potential for growth.

According to UH Manoa Professor of Economics Steven Bond-Smith, the study identifies smaller industries that are not as developed as expected, presenting opportunities for diversification. In addition to ocean-based industries, the report also highlights opportunities to expand industries that align with Hawaii’s traditional strengths, such as hospitality, water transportation, and video production. By diversifying its economy

Samantha Johnson

As a content writer at newsnmio.com, I craft engaging and informative articles that aim to captivate readers and provide them with valuable insights. With a background in journalism and a passion for storytelling, I thoroughly enjoy delving into diverse topics, conducting research, and producing compelling content that resonates with our audience. From breaking news pieces to in-depth features, I strive to deliver content that is both accurate and engaging, constantly seeking to bring fresh perspectives to our readers. Collaborating with a talented team of editors and journalists, I am committed to maintaining the high standards of journalism upheld by our publication.

Share
Published by
Samantha Johnson

Recent Posts

Ewen Ferguson Secures Exemption at The Open, Claims Fifth Spot in Race to Dubai Standings

Ewen Ferguson secured a victory at the BMW International Open in Munich on Sunday, earning…

9 hours ago

Protecting Privacy and Preventing Misuse: The Urgent Need for Regulation of Facial Recognition Technology in Law Enforcement

In 2020, a mobile police facial recognition facility was set up outside a shopping center…

9 hours ago

The AI Talent Market: A Landscape of Competition and Reward for Workers

The competitive market for AI talent has resulted in massive compensation packages for workers, making…

9 hours ago

Marshall Health Adds Two New Eye Care Specialists to Their Team: Expert Ophthalmologist and Optometrist Join Practice

Marshall Health, a member of Marshall Health Network, is excited to announce the addition of…

9 hours ago

Rangers Sweep Rays in 13-2 Victory at Globe Life Field; Corey Seager and Jonah Heim Lead the Way

The Tampa Bay Rays were swept by the Texas Rangers in a 13-2 victory on…

9 hours ago

LeBron James’ Compromise: How He Helped the Lakers with a Pay Cut and Inspired Future Stars”.

In a media session at Team USA training camp in Las Vegas, Lakers star LeBron…

9 hours ago