The Hawaii Department of Business, Economic Development, and Tourism (DBEDT) recently named Dr. Seth Colby as its new chief state economist, a statement from the department announced. Colby, whose expertise encompasses economic and social development, will lead the DBEDT Research and Economic Analysis Division (READ), responsible for synthesizing data crucial for Hawaii's economic advancement.
Before stepping into this significant role, Colby was at the helm of tax research and planning at the Hawaii Department of Taxation, managing state revenue system research, assessing fiscal implications of proposed laws and honing macroeconomic forecasts, his background—boasting international work with notable financial institutions and academic credentials—lies in political economy, where he contributed to efforts in Latin America, the Caribbean, and Africa.
"We are excited to welcome Seth as our new chief state economist," DBEDT Director James Kunane Tokioka expressed, and he believes Colby's direction will strengthen READ's output that's vital for informed decision-making within Hawaii's public and private sectors. Colby himself is eager to "lead the exceptional team at READ and provide knowledge products that promote the state's economic development and help our leaders make informed decisions," he shared with the Department of Business, Economic Development and Tourism.
Colby, who is fluent in Portuguese and Spanish and holds a Ph.D. in Political Economy from Johns Hopkins University, represents the fourth individual to occupy the chief economist's chair, taking over from Dr. Eugene Tian who retired after a 15-year tenure. The DBEDT serves as the state's nerve center for diverse aspects, including economic data, energy conservancy, and fostering business growth—its ultimate aim to carve a niche for Hawaii's economy on the global front that's innovative, dynamic and holistic, creating avenues for all state citizens to prosper.
