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HomeMy WebLinkAboutCOM 0718.000 2022-2024 JNtV os p,!7 Phone: (808)961-8828 HEATHER L. KIMBALL =�'•'��• •' „�..,':, COUNCIL CHAIR �, S�' (808)961-8912 Council District 1 (North Hilo, �; r: • Email:heather.kimball@hawaiicounty.gov Hamakua, and portion of Waimea) •,Tt OFN'•� HAWAI`I COUNTY COUNCIL r h , COUNTY OF HAWAI`I c- 25 Aupuni Street, Ste. 1402, Hilo, Hawai`i 96720 1. --t C) DATE: January 30, 2024 x, TO: Hawai`i County Council Members FROM: Heather Kimball, Council Chair j� 1 . Council District 1, County of Hawai`i r' SUBJECT: Presentation by Hamakua Institute: Hawai`i Island Clusters of Opportunity I respectfully request at least 45-minutes of time on February 20, 2024, during the appropriate committee agenda, for a 20-minute presentation by Hamakua Institute, with the remainder of time for a question-and-answer period. Attached please find the presentation material entitled "Hawai`i Island Clusters of Opportunity (HICO)", which outlines project data on potential economic advances for our island community. The presentation by Dennis Flemming, founder, and Executive Director of Hamakua Institute, would aim to provide the Council with an overview of the project's findings, specifically focusing on: 1. The four highest economic growth clusters identified by the data for Hawaii Island: Diversified Healthcare, Knowledge and Technology, Agriculture and Food, and Hospitality and Experience. - 2. A detailed look a specific subsectors within these clusters that demonstrate the highest job growth over the past decade. 3. A summary of key insights and recommendations to further increase job growth in these areas shared by business leaders during the HICO Leadership Summit in early December 2023. Please refer this matter to the appropriate committee. Should you have any questions regarding this request,please do not hesitate to contact me. Thank you. Comm. No. Ref. To: Hawai'i County is an Equal Opportunity Provider and Employer Ref. Date EEB _ .1 2024 kiNt AIIMIWArAr .�/ Hamakua mom Institute Hawai ' i Island users of or uni Presentation for County of Hawai'i County Council February 20, 2024 Air + COECON 0. North Shore EVP Kiss�c TIDEECONOMICS f it!'om,+au.rty Fronn.mr• :r�✓.'tyn t ,� collaborative economics � —�- HICO Data Source Your Economy Time Series (YTS) ➢ Your Economy Time Series (YTS) Microdata Database: Time series establishment level database used by academic researchers, policy makers and economic development analysts. ➢ Comprehensive Data on U.S. Establishments: Tracks all establishments (and their jobs) at each unique location. Dunn and Bradstreet based. ➢ Dynamic "In-business" Establishments : Focuses on establishments that are "in-business", meaning they are or intend to be conducting commercial activities. Exciting Things Happening: 4 Clusters of Economic Opportunity Representing 42% of All Hawaii Island Jobs , Knowledge & Technology --------------- 1,428 Jobs �T• n 7 Clusters of Opportunity, ' 42% Diversified (= = Healthcare Agriculture & Other 8,186 Jobs Food Industries, 58% 12,082 Jobs Hospitality & Experience 6,806 Jobs ArData Reveals Hawai'i Island's Clusters of Opportunity Compares each cluster's size, growth and competitiveness Strong competitive 1.no g competitive etitive Agriculture& Food p advantage and advantage and slower job growth higher job growth r 1.20 Hospitality& Experience - Diversified Healthcare ro m I IC a, Ln ro V) 0.80 O '--i (NI N 0 N 0.60 •c Knowledge and Technology 0 co 0.40 a) c.0 c 0 v 0.20 Weak competitive Weak competitive advantage and advantage and slower job growth 0.00 higher job growth -2% -1% 0% 1% 2% 3% 4% 5% Average Annual Growth Rate of Jobs 2013-2022 Ap :•:, Diversified Healthcare Following national Healthcare restructuring trends 2.5000 Strong competitive Laboratories&Imaging Centers Strong competitive advantage and advantage and slower job growth 0 higher job growth 2.0000 3 �o m co 1.5000 Private Practitioners Q - ri Other Health Services — Treatment Centers N N Pharmacies 0 4111.0000iiik 4110 o w . Rik Elderly Care .Y ,. c Q) V c Q u 0.5000 Hospitals&Medical Centers Weak competitive Weak competitive advantage and advantage and slower job growth higher job growth 0.0000 -4.00% -3.00% -2.00% -1.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Average Annual Growth Rate of Jobs,2013-2022 Ar - Knowledge & Technology Ax All sectors are competitive and growing 6.00 Strong competitive Strong competitive advantage and Research& Development advantage and slower job growth higher job growth 5.00 • 4.00 c0 aJJ f0 3.00 r-i o Higher Education 2.00 Technical/Business Computer&Software Consultants co too 0.00 1% Weak compete 1% 2% 3% 4% 5% 6°° 7% 8% Weak competitive advantage and advantage and slower job growth higher job growth -1.00 Average Annual Growth Rate of Jobs, 2013-2022 Airr )too4 Agriculture & Food Oka ��j. Hawai'i Island ® Experiencing some high growth sectors ~""' '� I "': Food Alliance over the past decade Strong competitive 8.00 Strong competitive advantage and advantage and slower job growth Fruits,Vegetables higher job growth and Tree Nuts 7.00 ill 6.00 - - Aquacuiture& Fisheries (13 5.00 GO v `—^ 4.00 o Nurser nd Floriculture N o Ag Support Services .00 rsi Q Livestock&Dairy Specialty Agriculture AgSupplies and E ui m pp q p ant restaurants z.00 © Food Retailers c Ag and ood Processing Snacks and Beverage Bars v o 00 vI holesalers la 4111 Food Service 0.00 -4% -3% -2% - % 0% 1% 2% 3% 4% 5% 6% Weak competitive Weak competitive advantage and -1.00 advantage and slower job growth Average Annual Growth Rate of Jobs,2013-2022 higher job growth o; Hospitality & Experience Experiencing some high growth sectors over the past decade 1.80 Strong competitive Strong competitive advantage and Sports, Fitness& Recreatio�dvantage and slower job growth higher job growth 1.60 Tours Arts&Crafts 3 �o Hotels& Resorts .20 Other 'ccommodation co vl ., Parks&Museums N 0 .; . -.* U (.1 Performing Arts Oryv: cIllii c 0 o Fashion and Ael c v u c v 0.40 0.20 Weak competitive Weak competitive advantage and advantage and slower job growth higher job growth 0.00 -6% -4% -2% 0% 2% 4% 6% Average Annual Growth Rate of Jobs, 2013-2022 AirHawaii Island's Biggest Contributors to New Job Growth Growth sectors in our 4 Clusters represent 76% of new jobs on Hawai'i Island over the past decade Sports, Fitness& Recreation, 533 Other, 989 Research & Development, Livestock& Dairy, 2 368 Food Service, 18 Technical/Business Consultants, 12 Parks& Museums, 30 -_ Arts&Crafts, 34 -_ Number of New Jobs Added Higher Education, 53 ---- -_ 1111111111111 from 2013 - 2022 - Other Health Services, 351 Computer&Software, 54 Treatment Centers, 66 Laboratories& Imaging Centers,... Specialty Agriculture, 111 Food Retailers, 302 Aquaculture& Fisheries, 112 Hospitals& Medical Centers, 230 -. Private Practitioners, 291 Snacks and Beverage Bars, 255 Elderly Care, 263 Hawaii Island's Competitive Advantage & Positive Job Growth Our most competitive growth sectors over the past decade 6.00 Strong competitive Strong competitive advantage and advantage and slower job growth higher job growth s.00 3 quaculture&Fisheries Research&Development 4.00 a) E ca h 0 3.00 o Laboratories&Imaging Centers N Livestock& Dairy Specialty Agriculture 2.00 ligid Food Retailers Sports,Fitness& Higher Education e Recreation Computer&Software •• Arts&Crafts o 4 11110 U ` 1.00 m.0 & Other Health S Weak competitive Private Weak competitive advantage and Practitioners Treatment Centers advantage and slower job growth higher job growth o.00 -1% o% 1% 2% 3% 4% 5% 6% Average Annual Growth Rate 2013-2022 HAWAI'I ISLAND'S COMPETITIVE ADVANTAGE H/CO's New Data Revea/s: ➢ The 4 Clusters of Opportunity represent a substantial part of Hawai'i Island's economy - 42% of total jobs. ➢ The growth sectors within the 4 Clusters of Opportunity represent 14% of total jobs in 2022, but account for 76% of total job growth over the last decade. n h What Did We Learn? § i zn ➢ Hawai'i Island's 4 Clusters of Opportunity are a large part of the Hawaii Island economy. ➢ Each cluster has several growth sectors that together that are responsible for a majority of the Hawaii Island economy's job growth over the past decade. ➢ Past growth does not guarantee future success. Will the Clusters of Opportunity have the talent, infrastructure, and other resources necessary to continue to drive Hawai'i Island's economy? Opportunities & Requirements Identified By Industry Leaders at HICO Summit Opportunities Requirements 1. Health &Training: Expansion of medical training 1. Health & Training: Securing funding partners, and physician resources, with a focus on island-wide addressing housing and digital service needs, and coordination and public partnerships. ensuring federal reimbursements for Medicare. 2. Knowledge &Technology: Broadening the 2. Knowledge &Technology: Building critical economic identity beyond astronomy and energy; infrastructure and addressing housing, cost of living, emphasizing university programs, tech talent land use, and the need for venture capital and attraction, and commercial spin-offs. business services. 3. Agriculture & Food: Creating a unified voice for the 3. Agriculture & Food: Developing infrastructure sector, integrating new technologies, and setting base solutions, scaling slaughterhouses/processing prices for key agricultural commodities. facilities, and leveraging data for grants and support. 4. Hospitality & Experience: Enhancing relationships 4. Hospitality & Experience: Improving marine with agriculture, arts, and technology sectors; infrastructure, fostering marketing and content focusing on educational partnerships and event creation, and expanding job growth and education transformation. opportunities.