DBEDT, HHFDC navigate a smooth transition following SMS collapse

The State Department of Business, Economic Development and Tourism (DBEDT) and the Hawai‘i Housing Finance & Development Corporation (HHFDC) have recently confirmed that the state contracts previously held by SMS Research & Marketing Services, which recently shut down operations, have been transferred to other entities.

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SMS Vanishes: State Contracts in Limbo

So the question now becomes more focused as to the current situation at hand, that a company with a large value, and with their work with Maui and the Lahaina wildfire, high profile studies, that in the matter of a few days, the company has shuttered its doors?

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Insuring Hawai’i: The Green Fee’s (potential new) role

If the green fee is passed, it will fund a captive insurance program to mitigate rate increases due to natural disasters, providing better economic security for the people of Hawai‘i. The state could argue that the fee is necessary to preserve and protect its residents amidst a brain drain driven by cost of living increases.

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We like the tax break, but…

Yes, while the expenses for providing government services have increased, there was never any question about whether they would get paid. Now, with the tax cut, everyone is concerned about whether we can cover our bills.

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