Hawai'i Island Clusters of Opportunity

This project is a transformative initiative aimed at fostering an equitable and sustainable economy for all residents of Hawaiʻi Island. By leveraging real-time, reliable data and engaging committed community leaders, the HICO project seeks to identify and develop key economic clusters that can drive significant growth and prosperity across the island.

Launched in April 2023, the first phase of the HICO Project was successfully completed in December 2023, culminating in a leadership summit held at the Keck Observatory Conference Room in Waimea. This summit brought together over 24 business leaders from various sectors to review the growth trends for the island and identify what will be needed to sustain and expand those trends. The Project is dedicated to:

• Harnessing Data-Driven Insights: Utilizing innovative data analytics to understand current economic conditions and identify opportunities.

• Engaging Community Leaders: Collaborating with vested business leaders to develop and implement growth strategies.

• Promoting Equity and Sustainability: Ensuring that economic development benefits all communities and contributes to long-term sustainability.

  
  

Our Approach

1. Innovative Data Analysis

• Real-Time Data Utilization: Leveraging the Your Economy Time Series (YTS) database with Dun & Bradstreet grounding to obtain accurate and up-to-date economic data.

• Cluster Identification: Analyzing this data to identify four key Clusters of Opportunity within Hawaiʻi Island's economy:

  • Knowledge & Technology

  • Diversified Healthcare

  • Hospitality & Experience

  • Agriculture & Food

• Economic Impact: These clusters represent 42% of the island's employment and account for 76% of job growth over the past decade.

  
  

2. Collaborative Leadership Engagement

• Leadership Summit: Convened a summit with 24 Hawaiʻi County business leaders to discuss actionable opportunities for growth within the identified clusters.

• Action Teams Formation: Leaders committed to forming action teams to further examine opportunities and requirements within and across sectors.

3. Strategic Development

• Industry-Led Growth Strategies: Fostering collaboration across talent development, infrastructure, and innovation to ensure required investment and boost competitiveness.

• Community-Driven Action: Combining detailed analytics with community insights to drive sustainable economic growth.

You can review the presentation and the report from the HICO Summit by clicking the links below:

Next Steps

• Resource Mobilization: Leaders from the different cluster groups are actively seeking additional resources to advance to the next phase of development.

• Strategic Action Planning: Business leaders are collaborating to finalize specific strategies, implement commitments, and identify measurable outcomes for each economic cluster.

• Community Engagement: Expanding outreach to involve more stakeholders, ensuring that the project's vision for a more equitable, sustainable economy is inclusive and far-reaching.

  
  

Acknowledgment

We extend our sincere gratitude to the County of Hawaiʻi's Department of Research and Development for funding the first phase of the HICO Project. Their support has been instrumental in enabling us to gather critical data and bring together business leaders to drive actionable opportunities for growth.

Get Involved

The HICO Project represents a unique opportunity to collaboratively harness Hawaiʻi Island's strengths for sustainable economic growth. By aligning detailed analytics with community-driven action, we are positioned to create lasting positive impacts that extend beyond immediate gains.

Your involvement is crucial. Whether you're a business leader, a community advocate, or someone passionate about Hawaiʻi Island's future, we welcome your support in this significant endeavor.