Software and Act 221/215

Monday, October 29, 2007

This article from Pacific Business News comments on an Act221 report from the Hawaii Tax Department. The report focused on a 4-year period from 2002-2006.

Highlights:

• State paid out $195.6 million in Act 221/215 investment credits.
• 287 local tech companies applied for credits.
• $1 billion spent on expenses like salaries ($507M) and infrastructure.
• 5,383 tech jobs created.
• Average pay in tech companies: $67,000.

Full report: www.hawaii.gov/tax/pubs/2007hitec_rpt07a.pdf.