Small State, Giant Tax Credits: Hawaii’s Leap into High Technology Development

Andrew Kato, Sumner La Croix and James Mak ()
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James Mak: Department of Economics, University of Hawaii at Manoa

No 200914, Working Papers from University of Hawaii at Manoa, Department of Economics

Abstract: In 2001, the State of Hawaii established a 100 percent tax credit to promote investment in several targeted high technology industries. We chronicle the evolution of Hawaii’s high technology tax credits, describe their provisions, and catalog a host of problems associated with determining whether or not the tax credits have achieved results desired by lawmakers. We conclude that it was a mistake to initiate a generous tax credit program without adequate monitoring by public agencies or disclosure of how public funds are being used by recipients of tax credits.

Keywords: tax credit; Hawaii; Act 221; qualified high technology business (search for similar items in EconPapers)
JEL-codes: H25 H71 O38 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2009-10-27
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Citations: View citations in EconPapers (2)

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