High Tech, U.S.–Asian Business Power Hawaii’s EconomyTourism continues to provide a major source of income and growth in Hawaii. Additionally, “research & development, U.S. defense technology, astronomy, ocean science and technology, sustainable energy technology, and creative industries such as film and recorded music are quickly becoming additional sources of economic support,” says Robert L. Shore, economics research program manager, Research and Economic Analysis Division of the Hawaii Department of Business, Economic Development and Tourism. More |
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NEWS ITEMS
AROUND THE WEB
NEWS ITEMS
AROUND THE WEB
Solar Industry Growth Projected
06/24/2009
May U.S. Factory Orders Rise Significantly
07/02/2009 |
LABOR FORCE: 649,100 (2007)
RIGHT TO WORK: NoTRADITIONAL INDUSTRIES: Tourism, federal activity (defense- and nondefense-related activity), agricultural products
EXPANDING INDUSTRIES: Clean/renewable energy, high technology, biotechnology, environmental remediation technology, resort architecture and engineering, retail, film and television production, ocean science and technology, seafood, diversified agriculture, sports, education and training, health and fitness servicesCOLLEGE GRADUATES: (Age 25 and over) 29.7% (2006)
BASIC BUSINESS TAXES:Corporate Organization and Qualification Fees: $50 for filing articles of incorporation for in-state corporation or out-of-state corporation registration ($75 for expedited processing)
General Excise (Sales) and Use Tax: Rate ranges from 0.5 percent to 4 percent of the value of gross income according to type of business; 4 percent on retail sales of goods and services (except those exported); 0.5 percent on manufacturing or wholesaling (except for exported goods and services). Effective Jan. 1, 2007, activities with a business purpose on the island of Oahu which are subject to the 4 percent GET rate are also subject to an additional 0.5 percent tax for the City and County of Honolulu's mass transit systemProperty Tax: Real property tax rates are set and collected by the four counties; commercial rate is $12.40 per $1,000 valuation in the City and County of Honolulu; $9.00 per $1,000 valuation on land in Hawaii County; $6.90 per $1,000 valuation on land in Kauai County; and $6.25 per $1,000 valuation on land in Maui County; property assessed at 100 percent of fair market value; no tax on personal property
BUSINESS INCENTIVES: