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Hawaii is the 43rd Best State for Business 2014

Tourism for the first quarter was down slightly from the same period last year. Hawaii lawmakers passed an increased minimum wage bill earlier this year, increasing it from $7.25 to $10.10. And in April, the governor approved a bill that would allow the University of Hawaii to grow a crop of hemp, for use in biodiesel. The program should provide new jobs on the island.

Previous State: Pennsylvania Next State: Connecticut

No. 43 Hawaii

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 1.9
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): -0.9

Unemployment

  • Unemployment Rate Dec. 2013 %: 4.5
  • Comparison with Nat’l Rate (6.70%): -2.2

Domestic Migration

  • Domestic Net Migration 2013: -1,457
  • Rank: 27

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 5,839
  • State & Local Gov’t Employees per 10k Residents: 559.8

State-Local Tax Burden

  • Rate (%): 10.1%
  • Compared to Nat’l Avg. (9.9%): 0.24%
Key Companies
  • Hawaiian Electric Industries Inc.
  • Cyanotec Corp
  • Alexander & Baldwin
  • Hawaiian Holding
Development Trend Indicator: Negative
Workers’ paradise keeps losing ground on job growth and entrepreneurship.


Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

About JP Donlon

JP Donlon
JP Donlon is the Editor-in-Chief of Chief Executive magazine.