Business / In Brief • July 20, 2013
General fund tax revenues up 10%
HONOLULU – Hawaii tax revenues deposited in the general fund rose nearly 10 percent during the most recent fiscal year to $5.5 billion.
The state Department of Taxation said Thursday that general excise tax revenue rose just over 9 percent to $2.9 billion during the 12 months ended in June.
The increases come as the tourism industry and local economy rebound from the recession.
The department says revenues from the transit accommodations tax imposed on short-term room rentals climbed nearly 14 percent from the previous year to $369 million.
Individual income tax revenue increased nearly 13 percent to $1.7 billion.
Hawaiian Electric VP leaving company
HONOLULU – Hawaiian Electric’s vice president will be leaving the company next month.
HECO says Executive Vice President Robbie Alm is leaving, effective Aug. 30.
In the company’s announcement, Alm says he plans to spend the next few months focusing on his family and personal life while continuing to support various community organizations. He says he’ll then see what challenges lie ahead of him.
Alm joined Hawaiian Electric in 2001 as senior vice president of public affairs and was promoted to executive vice president in 2008.
The company touts him as one of the chief architects of HECO’s agreement with the state to work toward more renewable energy.
Hawaiian Electric President and CEO Dick Rosenblum says the company understands and respects Alm’s decision.