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Article: Tanks a lot: increased federal spending fuels the local economy.(Federal Spending)(Cover Story)
- Article from:
- Hawaii Business
- Article date:
- February 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Hawaii Business Publishing Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Three years ago, a small phenomenon occurred in Hawaii that went relatively unnoticed, perhaps because it was largely overshadowed by post-9/11 chaos. While most people scrambled to restore Hawaii's economic mainstay--tourism, which took a huge hit following the terrorist attacks and the ensuing wars in Afghanistan and Iraq--the federal government steadily pumped more and more money into the local economy, primarily, in support of its military efforts. As a result, by the end of 2002, Federal expenditures surpassed visitor expenditures as the No. 1 contributor to the local economy.
According to the U.S. Census Bureau, federal expenditures in Hawaii in 2002 ...
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