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Economic Innovation and Development
Inform
Medium
High
Planning
County
State
County & State
Private
County of Maui Comprehensive Economic Development Strategy
“I think there are opportunities to align economic interests with several other projects by enabling private investment, agricultural development, small business development and perhaps other factors to enhance economic opportunities in and around Lahaina.”
Community Quote, LTRP Feedback
Purpose
Economic innovation and development will provide prioritized and targeted funding and training for tech and manufacturing businesses, as well as priority infrastructure, workforce and economic development projects. The creation of an implementation fund to support the needs of these clusters will support Maui’s economic vitality and resilience while helping to address Maui’s post-disaster economic needs.
Project Description
This project includes four State recovery projects:
- Maui Comprehensive Economic Development Implementation Fund Provide targeted funding to priority infrastructure, workforce and economic development projects identified by the forthcoming Maui Comprehensive Economic Development Strategy (CEDS) implementation plan.
- Prioritizing Maui Business for Innovate Hawaiʻi Tech and Innovation Grants Hawaiʻi Technology Development Corporation (HTDC) prioritized Maui tech and manufacturing business with grant assistance when applying for competitive grant program administered by Innovate Hawaiʻi. This is a competitive grant focusing on economic impacts for the State.
- Small Business Training for Tech and Manufacturing
HTDC prioritized Maui tech and manufacturing business with grant assistance when applying for competitive grant program administered by Innovate Hawaiʻi. This is a competitive grant focusing on economic impacts for the State. - Ecommerce Training Program
HTDC prioritizes helping impacted tech and manufacturing business with digital business ecommerce training and implementation. Program resources have been allotted for Maui companies if they need assistance.
Interdependencies and Roadblocks
The CEDS was completed in 2023 prior to the Maui Wildfires by the Maui Economic Development Board (MEDB). In the aftermath of the Maui Wildfires, MEDB in conjunction with the County of Maui Office of Economic Development (OED) is developing a CEDS implementation plan to identify actionable projects and programs in a post-wildfire economic environment.
Next Steps
- Identify funding sources for continued implementation
Project Details
Cost Estimate:
Maui Comprehensive Economic Development Implementation Fund: $50 million
Existing Funding Sources:
Project Lead:
- Department of Business, Economic Development & Tourism, Hawaiʻi Technology Development Corporation
Potential Funding Sources:
TBD
Project Partners:
- Maui Economic Recovery Commission
Alignment with West Maui Community Plan (WMCP)
- Goal 2.4 Economic opportunity through innovation and collaboration