Report: Construction in Hawaii picking up
HONOLULU (AP) — University of Hawaii economists say the state’s construction industry is picking up again after ending a 5-year slump in 2012.
The university’s Economic Research Organization said in a report released Friday that the industry will likely see expansion over the next several years thanks to a boom in solar installations, plus upgrades in the retail and visitors industries, home construction and Honolulu’s rail project.
The analysis says besides the rail project slated to cost more than $5 billion, publicly financed construction will be only a modest contributor to growth over several years.
University officials say automatic federal budget cuts enacted in Washington poses some risk to their predictions. But the analysis says direct effects on local construction seem to be limited.