CHAMBER OF COMMERCE HAWAII INTRODUCES 2030 BLUEPRINT HAWAII TO GROW JOBS, SUPPORT SMALL BUSINESS, AND IMPROVE THE ECONOMY

News Release from Hawaii CoC, January 26, 2024

HONOLULU – The Chamber of Commerce Hawaii today introduced a stakeholder-driven, long-term action plan to improve Hawaii’s future by growing jobs, increasing support for small businesses, entrepreneurs, and innovators, and addressing significant obstacles that are slowing the economy in the post-pandemic period.

The 2030 Blueprint Hawaii was the highlight event at the Chamber’s 2nd Annual State of Business. Governor Josh Green, M.D., presented a keynote address on 2024 Investments and Priorities. Senate President Ron Kouchi and House Speaker Scott Saiki engaged in a discussion on economic-oriented legislative matters. Department of Business, Economic Development and Tourism Director Jimmy Tokioka presented an update on Maui economic priority areas, while Deputy Director Dane Wicker addressed the department’s focus on emerging industries to expand the economy.

Chamber of Commerce Hawaii President and CEO Sherry Menor-McNamara said development of the 2030 Blueprint Hawaii action plan began last May in response to the severe workforce shortages and obstacles that are plaguing the state’s business community in all industries.

Menor-McNamara stated, “Unfortunately, Hawaii’s post-pandemic job recovery is the slowest in the nation. This was the impetus for the Chamber to develop the 2030 Blueprint Hawaii, a guideline for Hawaii to take action in building a stronger economic foundation that will support small businesses and increase job growth in the coming years.

“The continued outmigration of our residents is a troubling situation that is affecting small businesses and job growth, and weakening our state’s economic foundation and social structure. These workforce challenges are making it harder for small businesses to start up and expand, leading to fewer job opportunities for residents, especially young people, to stay home, build a career, and flourish.”

The 2030 Blueprint Hawaii examination of Hawaii’s business situation and the recommendations provided for improving the economy were the result of extensive engagement with a variety of business, community and government sources, and a review of published studies and reports.

More than 20 chief executive officers and numerous lawmakers were interviewed to gain their perspective. Focus groups were conducted with young professionals, entrepreneurs, and tech industry influencers. Input was sought from the Chamber’s board of directors and neighbor island chambers, and the Chamber’s members were surveyed for their feedback.

The final 2030 Blueprint Hawaii report identified three overall action items as being instrumental to improving Hawaii’s economy going forward:
Promote economic diversification, invest in education and technology, and support the local community and culture.
Increase workforce quantity and quality, improve the business climate, and lower the costs of living and doing business.
Increase jobs and economic resilience, focus additional resources on in-demand industries, and support a targeted public policy agenda.

In addition, the report highlighted a listing of opportunities and recommendations for Hawaii to be more economically competitive in the areas of travel and tourism, military and defense, small business, business services, 21st century ag, and maritime.

Menor-McNamara added, “The 2030 Blueprint Hawaii showed there are a multitude of opportunities for small businesses, entrepreneurs and innovators to pursue. This gives me great hope that the future of Hawaii’s business community will be reinforced and revitalized, and that our residents and families will benefit. Job growth for communities on all islands is key to Hawaii’s future success and this is a plan of action to accomplish that goal.

“We encourage everyone from all walks of life in Hawaii – from our business community, to our elected state and county officials, and most importantly, to residents and families concerned about Hawaii’s future – to see the Chamber’s 2030 Blueprint Hawaii as a guide to follow.”

The Chamber of Commerce Hawaii developed the 2030 Blueprint Hawaii report with support from business consultants Economic Leadership and Maui-based Karey Kapoi, LLC. The full report is available at: https://www.cochawaii.org/blueprint-project/

About Chamber of Commerce Hawaii

As the “Voice of Business” in Hawaii, the Chamber of Commerce Hawaii is a statewide, non-profit organization whose mission is to serve as the advocate for business in Hawaii. A recipient of the national ACCE Chamber of the Year Award in 2018, the Chamber’s 4Hawaii efforts serves its 2,000+ member organizations and the business community under the pillars of Economy, Environment, Education and Entrepreneurship. The Chamber advocates on behalf of business; supports its members with training, business building and networking opportunities; and serves as a liaison between civilian and military communities, working to enhance the quality of life for the citizens of Hawaii. Visit cochawaii.org.