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

Author

Listed:
  • Andrew Kato

    (University of Hawaii Economic Research Organization, University of Hawaii at Manoa)

  • Sumner La Croix

    (Department of Economics, University of Hawaii at Manoa
    University of Hawaii Economic Research Organization, University of Hawaii at Manoa)

  • James Mak

    (Department of Economics, University of Hawaii at Manoa
    University of Hawaii Economic Research Organization, University of Hawaii at Manoa)

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.

Suggested Citation

  • Andrew Kato & Sumner La Croix & James Mak, 2009. "Small State, Giant Tax Credits: Hawaii’s Leap into High Technology Development," Working Papers 200914, University of Hawaii at Manoa, Department of Economics.
    • Handle: RePEc:hai:wpaper:200914
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    File URL: http://www.economics.hawaii.edu/research/workingpapers/WP_09-14.pdf
    File Function: First version, 2009
    Download Restriction: no
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    Cited by:

    1. Bermperoglou, Dimitrios & Deli, Yota & Kalyvitis, Sarantis, 2019. "Investment tax incentives and their big time-to-build fiscal multiplier," Kiel Working Papers 2143, Kiel Institute for the World Economy (IfW Kiel).

    More about this item

    Keywords

    tax credit; Hawaii; Act 221; qualified high technology business;
    All these keywords.

    JEL classification:

    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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