HawaiiWritten by Havre On 03 October 2012
Hawaii Ranks 4th On Federal Funding

A newly compiled list of states receiving federal funds in fiscal 2011 ranks Hawaii in fourth place based on per capita spending. The data comes from an Office of Management and Budget web site, www.USASpending.gov. OMB estimated that the total amount spent in fiscal 2011 was $3.6 trillion.

In fiscal 2011, Hawaii received $21.48 billion for 1.4 million residents, which comes to $15,628 on a per capita basis. Of the top 10 prime awards, all went to Homeland Security to the tune of a total of $12.4 billion, more than half of the total spending in Hawaii. Coming in second was the Social Security Administration at $3.2 billion.

Florida benefited the most with $577.8 billion coming in at $30,318 on a per capita basis to its 19.1 million residents, about twice the amount Hawaii receives. In Florida, Health and Human Services was the leading agency with Homeland Security right behind. Aerospace and defense companies like Lockheed Martin, Raytheon, General Dynamics and Northrop Grumman, took the lion’s share.

The others in the top five include: No. 2 Louisiana with $137.8 billion, or $30,115 per capita; No. 3 South Carolina with $77.1 billion, or $16,467 per capita; and No. 5 Virginia with $117.1 billion, or $14,463 per capita.

Looking through the web site regarding federal contracts in Hawaii, construction spending was impressive at $5 billion, 1.87 percent of the total. Also, R&D contracts were strong at $1.3 billion.

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Randy Havre has a wealth of experience in the financial industry. In 1987, he established his own full-service stock brokerage firm, which was also registered with the SEC as an Investment Advisory Firm, managing money for the State of Hawaii’s pension fund, among other portfolios. In 1994, he started his first of three Hawaii based Venture Capital Funds. Additionally, he wrote a weekly stock column in the Pacific Business News for 21 years, taught Finance 315 Portfolio Management and Investment Strategies at the University of Hawaii for five years and is on KHON’s Morning News as a business/financial analysis twice weekly. Over the past nine years, Havre has been active in South America doing business development work for some of his portfolio companies, mentoring entrepreneurs and advising investors.

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