- Enterprise Zone Program is a joint state-county business effort to stimulate—via tax and other incentives—certain types of business activity, job preservation, and job creation in areas where they are most appropriate or most needed. The program includes: a seven year exemption from general excise taxes on gross proceeds; an 80% first year income tax abatement (decreasing 10% each year) and an income tax credit equal to 80% of unemployment taxes paid the first year (decreasing 10% per year).
- Opportunity Zone Program provides incentives for investors to re-invest unrealized capital gains into Opportunity Funds in exchange for temporary tax deferral and other benefits. The Opportunity Funds will then be used to provide investment capital in certain low-income communities.
- Hawaii State Trade Expansion PROGRAM (HISTEP) is a comprehensive program designed to assist Hawaii small businesses with their export development. The goal is to increase the number of small businesses that want to export as well as the value of exports for those small businesses that currently export.
- Hawaii Small Business Innovation Research Program (SBIR) provides small businesses the opportunity to win federal R&D awards. Hawaii-based companies that receive federal Phase I feasibility study SBIR awards can apply for funds from HTDC’s Hawaii SBIR Matching Grant program. The matching grants provide up to 50% of the Phase I award to assist companies with enhancing their Phase I project development, compete for the more lucrative Phase II awards to typically conduct prototype development, and ultimately reach successful commercialization. Hawaii-based companies new to SBIR can apply for funds from HTDC’s Hawaii SBIR Phase 0 Grant program. The grant provides up to $3,000 to companies submitting a competitive Phase I SBIR application. The purpose of the Phase 0 Grant is to assist applicants strengthen their proposal, e.g. Through professional grant writing assistance. This grant is open to Hawaii companies who have: a) Submitted fewer than three SBIR applications and b) demonstrate financial need.
- Hawaii Enterprise Zones Partnership is a joint state-county effort intended to stimulate—via tax and other incentives—certain types of business activity, job preservation and job creation in areas where they are most appropriate or most needed. Up to six zones can be designated per county. If a business (or a branch of business) is eligible and is located in an Enterprise Zones (EZ), it can reduce its state taxes and receive other county benefits for up to seven years by satisfying the EZ hiring and gross receipts requirements.
- Foreign Trade Zone #9 provides duty-free treatment for items that are processed in FTZ and then re-exported. Duty payment is also deferred on items until they are brought out of the FTZ for sale in the U.S. market. It helps to offset customs advantages available to overseas producers who compete with domestic industry.
- INNOVATE Hawaii assists manufacturers looking to improve their business and are willing to invest time and resources to grow their company. INNOVATE Hawaii builds the strength and competitiveness of Hawaii manufacturers through an array of programs and services, including coaching and training, consulting, collaboration-focused industry programs, and grant opportunities.
