Gov. David Ige is in New York today in an effort to secure favorable bond ratings, which will allow the state to borrow funds at low interest rates.
The governor’s office said Ige is pursuing funding for new capital improvement projects. The state is also looking at refinancing opportunities of existing bonds, which could save the state between $25 to $30 million.
Ige and state Director of Finance Wesley Machida will meet with representatives of Fitch Ratings, Moody’s Investor Service and Standard and Poor’s Rating Services today.
On Friday, Ige is scheduled to travel to Washington, D.C. to participate in the Winter Meeting of the National Governors Association.
The governor will also meet with Department of Interior Secretary Sally Jewel regarding the International Union for Conservation of Nature’s World Conservation Congress, which Hawaii will be hosting in September; Administrator of the Environmental Protection Agency Gina McCarthy; Director Abigail Hopper, Bureau of Ocean Energy Management, Department of the Interior regarding offshore renewable energy opportunities in Hawaii; and Secretary Julian Castro of the Department of Housing and Urban Development and Deputy Secretary Nani Coloretti regarding homelessness and public housing
Accompanying the governor are his wife Dawn Amano-Ige and staff members Elizabeth Kim and Ryan Tsuji.
The cost of the trip is estimated at $16,000.