“Each headquarters that gets relocated to Hawaii means more high-paying, high-skill jobs for locals to apply for and more business for local companies to engage in to provide the products and services needed by those headquarters,” Ward said.
Nonprofits may also benefit from such a move with an increase in charitable donations that can be attributed to the increased presence of highly-paid employees.
An increased presence of company headquarters would also help to establish Hawaii as a world-class destination for business.
The bill has been referred to the Committees on Economic Revitalization & Business, International Affairs, and Finance. Other states with a similar tax credit include Indiana, Mississippi, South Carolina, Tennessee, West Virginia and Wisconsin.