Wednesday, December 31, 2008, 12:33pm HAST
Hawaii military spending slips
Pacific Business News (Honolulu)
After nearly a decade of growth, military spending in Hawaii is expected to decline over the next two years, according to a report released Wednesday from the Department of Business, Economic Development and Tourism.
The report, “Profile of Hawaii-based Armed Forces,” showed a decrease in expenditures from $9.3 billion in 2008 to $9 billion in 2009 and $8.4 billion in 2010, according to figures provided by the U.S. Department of Defense.
Federal and military spending will still be a bright spot in Hawaii’s economy in 2009, however, according to a DBEDT economic forecast released in November.
The decline in direct expenditures from the DOD is projected to continue through the next five years, but will be less severe at around 1 percent each year to a low of $8.1 billion in 2013.
DBEDT estimated there were 58,756 total armed forces personnel in Hawaii in 2007, up from 58,194 in 2006. Figures for 2008 were not available.
Source: http://dayton.bizjournals.com/dayton/othercities/pacific/stories/2008/12/29/daily32.html?t=printable
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