Wednesday, December 31, 2008, 12:33pm HAST<\/p>\n
Pacific Business News (Honolulu)<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Source: http:\/\/dayton.bizjournals.com\/dayton\/othercities\/pacific\/stories\/2008\/12\/29\/daily32.html?t=printable<\/p>\n","protected":false},"excerpt":{"rendered":"
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,” … <\/p>\n