High Tech, U.S.-Asian Business Power Hawaii's Economy
Aug/Sep 08
"Hawaii is also a strategic catalyst for U.S.-Asian political and business relationships, through such institutions as the East-West Center and Japan-America Institute of Management Science," says Shore. "Our geographic location and natural resources allow companies to explore Asian markets, and conduct energy, life science and ocean research, with the advantages of a modern U.S. city and highly educated work force." Hawaii's working hours overlap the work hours of both the U.S. East Coast and major Asian cities, making the state a good match for Pacific regional headquarters.
The Aloha State maintains a 100 percent tax credit for investment in qualifying high-technology businesses, along with a 20 percent research tax credit and tax credits for qualifying film productions. Also, the University of Hawaii will design and deliver custom training programs tailored to new companies' needs. The High Technology Development Corporation maintains a system of technology parks and incubators and assists in securing SBIR and STTR funding with some state matching grants.
In emerging activity, "the Island of Oahu (Honolulu County) is home to a vast network of research and development in life sciences though the University of Hawaii Medical School complex, ocean research, film and digital media production, and a well-developed information technology sector, with significant broadband capacity," says Shore. Honolulu is home to about 83 percent of the state's 31,000 private and public technology sector workers. As the southernmost and largest island, Hawaii County is the state's center for astronomy and alternate energy. Maui County houses defense/aerospace facilities and the Maui High Performance Computing Center owned by the U.S. Air Force and managed by the University of Hawaii. Finally, Kauai County in the extreme northwest is home to major defense aerospace activity through the Pacific Missile Range Facility, the world's largest instrumented, multi-environment testing range capable of supporting surface, subsurface, and air-training exercises and operations simultaneously.
Project Announcements
DRFortress Expands Operations at Honolulu, Hawaii, Data Center Campus
06/16/2020
Alexander & Baldwin Expands Operations with Kapolei, Hawaii, Industrial Property
01/17/2019
Apple Builds New Reno, Nevada, Facility, Searches for New U.S. Campus Site
01/18/2018
Bidding War Begins to Lure Toyota-Mazda $1.6 Billion Joint Venture Assembly Plant
08/07/2017
Alexander & Baldwin Acquires Kailua-Kona, Hawaii, Industrial Park
06/07/2017
Alexander & Baldwin Invests In Maui, Hawaii, Beef Production
05/18/2017
Manufacturers Less Optimistic About Overall Economy; Express Confidence in Their Own Revenue Growth
07/20/2016
Cushman & Wakefield Reports on Continuing Momentum for Industrial Real Estate Markets
07/15/2016
root9B Opens Operations-Research-Training Hub In Honolulu, Hawaii
06/04/2014
Expansion of California-Based Solar Company to Hawaii Expected to Employ Up to 100 Workers
07/13/2011
Overall Unemployment Declined in June, Bureau of Labor Statistics Reports
07/20/2010
CT&T Produces Electric Cars in Hawaii
05/07/2010
Solar Industry Growth Projected
06/24/2009
Hissho Sushi Plans Rock Hill, South Carolina, Headquarters-Distribution Operations
05/09/2025
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