Hawaii 2050 Sustainability Plan
Benchmark 5
Develop a more diverse and resilient economy. (Goal 2, Strategic Action 1)
Why this matters:
- In order to withstand external economic shocks such as war, rising fuel costs, and recessions, we must have several pillars which anchor our economy. Technology and knowledge-based jobs are potential pillars to diversify our economy.
Where we are now:
- According to Enterprise Honolulu, the innovation sector, which includes technology, diversified agriculture, alternative energy, earth, ocean and space sciences, dual use, healthcare, biosciences and digital media industries, account for about 5% of all jobs in Hawai‘i. Average wage (2004) of entire innovation industries workforce was $47,262. According to the Department of Business, Economic Development & Tourism, in 2005, just technology jobs alone totaled 13,813. This represents 2.8 percent of all private sector jobs in Hawai‘i. The average wage in the high technology sector was $57,458, which is 66% above the overall private sector average.
2020 Suggested Benchmark:
- Enterprise Honolulu suggests that the innovation sector comprise 7% of all private sector jobs.
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