Archive for February, 2012

Representative Ward Addressing HB 1840, Relating to State-owned Bank

 

Representative Ward talks about why he opposes the idea of a state bank. Rep. Karl Rhoads defends the idea of a state bank, saying “Basically, everything in China is run by the government,” then adding that if China can figure out a way to use a state bank to grow the economy, then Hawaii probably can, too.

 

 

Representative Ward responds to Representative Rhoads in regards to China and “state capitalism.”

 

 

WARD INTRODUCES A BILL TO ENCOURAGE BUSINESSES TO RELOCATE THEIR HEADQUARTERS TO HAWAII

Seal of the State of Hawaii

 

Representative Gene Ward
District 17: Hawaii Kai – Kalama Valley

State Capitol – Honolulu, Hawaii

 

NEWS STATEMENT

 

WARD INTRODUCES A BILL TO ENCOURAGE BUSINESSES TO RELOCATE THEIR HEADQUARTERS TO HAWAII

 

Rep. Gene Ward (R-Hawaii Kai – Kalama Valley) introduced HB 2240, which would offer a tax credit equal to 50 percent of the costs for a qualifying company to relocate its headquarters to Hawaii.

 

“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.

 

Representative Gene Ward is the House Minority Leader, who specializes in state budgeting, small business support and job creation.