Construction
Maui Visitor Arrivals Trailing, Yet Construction & Housing Thriving
2024-12-05
According to a comprehensive report by the state Department of Business, Economic Development and Tourism, Maui island has faced challenges in returning to pre-pandemic visitor levels. The devastating Maui wildfires in 2023 have had a significant impact on tourism. As of the first 10 months of 2024, visitor arrivals to Maui Island were 75.2% of the 2019 level. While other islands like O‘ahu and Hawai‘i Island showed better recovery rates, Kaua‘i's visitor count remained flat.

Economic Growth and Projections

The department raised its economic growth projections for 2024 to 1.6% and maintained the 2025 rate at 2%. This increase is based on the first half of 2024 economic data, which showed better-than-expected performance. Industries such as construction, professional services, health care, and agriculture are experiencing growth. Director James Kunane Tokioka believes that the tourism industry will continue to recover in the next few years, especially with the projected economic growth in the US and moderate growth in Japan.

Data from the US Bureau of Economic Analysis revealed that the economic growth rate increased by 1.8% in the first half of 2024, and nominal personal income growth was 5.6%. However, slower growth is expected in the second half of the year. DBEDT anticipates steady economic growth at around 2% through 2027, with construction, real estate, and the recovery of tourism as the main drivers.

Tourism Sector Recovery

While tourism-related sectors have only recovered to 93% of pre-pandemic levels as of the second quarter of 2024, non-tourism sectors have shown firm growth. The Information sector has grown by 38.4%, the Professional, Scientific, and Technical Services sector by 25.5%, the Agricultural sector by 21.5%, and the Health Care and Social Assistance sector by 11.6%. However, sectors like Wholesale Trade, Utilities, Accommodation and Food Services, and Other Services are still below 2019 real GDP levels.

Visitor spending is projected to increase from $20.6 billion in 2024 to $23.2 billion by 2027. Visitor arrivals are expected to start improving in 2025 as the Japanese visitor market recovery accelerates, with full recovery expected in 2027 when 10.4 million visitors are projected to come to the state.

Employment and Unemployment

In October 2024, statewide non-agriculture payroll jobs were still short by 21,000 compared to October 2019. Job counts in most sectors were lower, with Retail Trade losing 6,400 jobs, Accommodations losing 4,600 jobs, and Financial Activities losing 3,400 jobs. The statewide unemployment rate was 3% during the first 10 months of 2024, ranking eighth lowest in the nation. Maui County's average weekly unemployment claims were 45.8% higher than the 2019 level.

Job vacancies during the first nine months of 2024 came down to 6,300, lower than the average monthly vacancy in 2019. The construction industry has been growing continuously, with a historic record high of 43,300 construction payroll jobs in October 2024. The value of private building permits increased by 28.6% during the first 10 months of 2024, and government contracts will have a lasting impact on construction activity in the next few years.

Real Estate and Home Sales

After a 26% decline in 2023, Hawai‘i home sales increased by 18% during the first nine months of 2024. Sales of single-family homes increased by 14.6%, and condominium home sales increased by 21.2%. The average sale price of single-family homes was $1,104,714, representing an 8.9% increase, while the average sale price for condominium homes was $750,938, with a 2.4% increase.

Hawai‘i's construction industry is booming, with the total value of construction reaching $11.8 billion in 2023 and a 14.8% increase in the contracting tax base during the first half of 2024.

Inflation and Interest Rates

Honolulu consumer inflation was 4.2% in September 2024, 2 percentage points higher than Hawai‘i's inflation rate in September 2023 and 1.8 percentage points above the US inflation rate. Housing was the main driver of inflation, increasing by 6.6%.

The Federal Reserve cut its fed funds rate target by 25 basis points in November. It has cut key interest rates twice this year, reducing the Federal Funds rate to a range of 4.5%-4.75%. DBEDT predicts that Hawai‘i's economic growth rate will be 1.6% in 2024, 2% in 2025, and 1.8% in 2027. Inflation is expected to be 4.3% in 2024 and decrease to 2.6% by 2027. Hawai‘i's population is expected to decrease by 0.2% in 2024 and then increase by 0.1% each year in the following years.

To see the full report, click here.
Meeting Scheduled for New London's Roundabout Construction Plans
2024-12-05
In response to safety apprehensions, the Wisconsin Department of Transportation is set to install a roundabout on Highway 45 on the north side of New London. This significant infrastructure change aims to enhance traffic flow and safety in the area. The department is planning an open house to provide the public with detailed information about the construction plans. The meeting will take place from 5 to 6 p.m. on December 11 at the council chambers in the New London Municipal Building, located at 215 N. Shawano St.

Project Details and Construction Plans

The Wisconsin Department of Transportation has outlined specific plans for the roundabout installation. They will be removing all existing pavement and paving the roadway with 7 to 7.5 inches of new asphalt. This will maintain the current 12-foot lanes, 3-foot paved shoulders, and 7-foot gravel shoulders. Additionally, a portion of the pavement at the New Lisbon park and ride lot in the northwest quadrant of the intersection of highways 45, 15, and T (Mill Street) will be removed and replaced with new asphalt pavement. The DOT will also be cleaning 16 culvert pipes and making repairs to culvert inlets. Spot curb and gutter repairs will be carried out, and centerline rumble strips and new pavement markings will be installed. The guardrail will also be replaced.These construction activities are scheduled to commence in 2026, giving the local community and commuters ample time to prepare for the changes. The department is accepting comments on the project through January 10. Comments can be emailed to korey.boehm@dot.wi.gov or mailed to: Wisconsin Department of Transportation, 1681 2nd Ave. SW, Wisconsin Rapids, WI 54495, Attn.: Korey Boehm.It is crucial for residents and drivers to stay informed about this project to avoid potential traffic disruptions. By watching Melissa McCrady's reports on Good Day Wisconsin and visiting the Traffic section of fox11online.com, people can stay updated on the progress of the construction. If driving, having a passenger navigate the webpage can make it easier to access the latest information.The installation of the roundabout is expected to bring several benefits. It will improve traffic flow, reduce the number of accidents, and enhance the overall safety of the intersection. The new pavement markings and rumble strips will provide clear guidance to drivers, reducing the likelihood of veering off the road. The replacement of the guardrail will also add an extra layer of protection for both vehicles and pedestrians.Overall, this project represents an important step in improving the transportation infrastructure in New London. The Wisconsin Department of Transportation is committed to ensuring the safety and convenience of the local community, and the installation of the roundabout is a significant part of that effort.
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The New Acadiana Crime Lab in Iberia Parish: Halfway Done
2024-12-05
The construction of the new Acadiana Crime Lab in New Iberia is making remarkable progress. With workers dedicatedly working on the $26 million facility, it is now approximately halfway completed. This project, which broke ground in May, has been a long-awaited endeavor for Iberia Parish, having been part of their planning for over 35 years.

Key Features and Benefits of the New Lab

In recent weeks, the construction crew has been actively pouring concrete for the foundation and installing stainless steel supports. This meticulous work is aimed at reinforcing the structure and ensuring its durability. The foundation layout of the lab has been carefully designed to accommodate advanced equipment, providing a more spacious and efficient environment to handle the growing caseload.Kevin Ardoin, the director of the current lab, emphasizes the significance of the new facility. He states that it will be three times the size of the existing building, offering significantly more capacity and a better workflow. "We're the unbiased part of the judicial system. We're the scientific, objective part of the case. When evidence comes in, we conduct the testing and provide the objective results, which help inform the investigation," Ardoin said. This highlights the crucial role the new lab will play in the judicial process.The new lab is also focused on securing operational funds as it gears up for its scheduled opening in August 2025. This ensures that once completed, the lab will be able to function smoothly and provide accurate and timely forensic services.

Advancements in Equipment and Workflow

The expanded size of the new lab will allow for the installation of state-of-the-art forensic equipment. This includes advanced DNA analyzers, fingerprint identification systems, and other cutting-edge tools that will enhance the lab's capabilities. With more space, technicians will have the freedom to set up dedicated workstations for different types of analyses, improving efficiency and reducing turnaround times.Moreover, the improved workflow in the new lab will streamline the testing process. From sample collection to analysis and reporting, every step will be optimized to ensure seamless operations. This will not only benefit the investigators but also contribute to the timely resolution of criminal cases.

Enhanced Scientific Capabilities

The new Acadiana Crime Lab will be equipped with laboratories dedicated to various forensic disciplines. There will be specialized areas for toxicology, ballistics, and trace evidence analysis. This specialization will enable the lab to provide more accurate and detailed results, helping to build stronger cases in court.In addition, the lab will have a team of highly trained forensic scientists who will utilize the latest research and techniques. They will be able to conduct complex analyses and provide expert opinions, adding significant value to the criminal justice system.

Impact on the Community

The construction of the new crime lab is not just a technological upgrade but also a boon for the community. A more efficient and reliable forensic lab will lead to faster crime-solving, providing a sense of safety and security to the residents. It will also enhance the credibility of the judicial system and instill confidence in the community.Furthermore, the new lab will create job opportunities for local professionals in the fields of forensic science and related disciplines. This will contribute to the economic development of the area and attract more talent to Iberia Parish.
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