Film, agriculture, and renewable energy are among the top emerging industries that economists say will help diversify Hawaiʻi’s economy in the next decade.
The state Department of Business, Economic Development and Tourism reports that real estate, tourism, and the federal government still provide the largest share of the state’s GDP and will carry much of the growth in the near future.
However, those smaller industries have experienced higher job growth over the last ten years than the U.S. as a whole, and they could see more growth in the future.
Support services in agriculture added more than 800 jobs in the last decade. Film, TV production and related jobs grew by nearly 1,000 jobs. That represents about a 5% annual job growth for both industries.
More than 1,400 jobs in hospitals and nursing facilities were also added, although that number represents less than a 1% increase in annual job growth rate for the industry.
DBEDT economic research administrator Eugene Tian recently told state lawmakers that the emergence can come from certain parts of the industries.
“Agriculture is a declining sector, and manufacturing is also a different sector. But within those sectors, there are industries … that are emerging, and they may grow into the future,” Tian said. “One you can see is agriculture support, agricultural input and … aquaculture.”
The emerging industries represent bright spots in an ongoing labor shortage in the government.
“The challenge for us is the … demographic changes, population decline,” Tian said. “Our population will be coming mainly in the next few years — or next few decades — from migration … from the U.S. mainland and from international (locations).”
DBEDT released an updated report on the growing industries in Hawaiʻi in November.
