Slowly peeling back necessary restrictions is not going to save many local businesses hammered by the reality of seven months (so far) of COVID-19, plus quarantine, consumer wariness and weariness, costly safety measures, restrictive seating measures, minimal desire soon for large crowds at events, and sensible store traffic limitations.
We will not see local consumers rushing back to stores, malls, or restaurants soon. We will not see 10.4 million tourists visiting in 2021 or 2022. Estimates suggest that it could take five years, if we really want and get to that 2019 visitor count number again. What we need is creative collaboration, perhaps even unimaginable tax incentives and other lures to bring new business to Hawai`i. Hotels and tourist destinations will surely offer incentives soon. But how about local government working with the private sector to hopefully entice new business in the foreseeable future? Venture capital money is looking for opportunities, interest rates are low; now is the time to be entrepreneurial.
Some questioned metropolitan areas as they did backflips to convince Amazon to build its new headquarters (HQ2) in their towns. 238 cities bid, offering free land, community control, and property tax deferrals. One site purportedly offered to give Amazon employee’s state income taxes right back to Amazon! Crazy? Perhaps, but we are moving beyond “rainy day” options here as we look ahead six or 12 months. Rainy days? Prognostications indicate ground saturation and flooding.
We need more higher-paying jobs and truly affordable housing for residents than we’ve seen over the past decade. Lots of talk for years, but little action. Tourism has been our gravy train; it’s now off the tracks. Unlike New Jersey, which offered Amazon about $7 billion to bring HQ2 there, we’re not looking to add residents, we’re just trying to keep residents from leaving in the coming years.
Our exceedingly high cost of living and lack of quality jobs won’t permit a future of business as usual, and a vaccine won’t resolve our ongoing problems. In January, 2020, Aloha United Way (my employer) revealed that we had almost 200,000 Asset Limited, Income Constrained, Employed (ALICE) families in Hawai`i, a number also identified in AUW’s 2018 data. That was local reality pre-COVID-19. So let’s procure an East/West medical partnership, international space exploration facility, military adjunct, cybersecurity hub, science/technology expansion, ecotourism, media production facility, and/or alternate energy facilities? Or should we just wait?
Think about it…