Hawaii lures high tech

As if there weren’t already enough reasons to want to move to Hawaii, the state is now granting large tax credits to high-tech businesses that set up shop in paradise.

The state law allows individuals and companies to get a 100% return over five years on investments of up to $2 million made in Hawaii-based high-technology companies. Companies can win a cash return if they can show 20% of their revenue is going into technology research and development.

Proponents credit the tax incentive and Hawaii Sen. Daniel Inouye with drawing IT and biotech firms to Honolulu, which is now wondering where it can find more office space to house new firms.

Via USA Today