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Hawaii tax credits scrutinized by state lawmakers

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COURTESY CORTEVA AGRISCIENCE / 2022 Corteva Agriscience said in written testimony that 2024's change to the research tax credit threatens growth and sustainability of high-paying research and development jobs and innovation in Hawaii.
The article from Yahoo News discusses the scrutiny surrounding Hawaii's tax credit programs, particularly focusing on the state's film and television tax credits. These credits, intended to boost local economies by attracting film productions, have come under review due to concerns over their cost-effectiveness and actual economic benefits. Critics argue that the tax credits, which can amount to significant sums, might not be generating enough revenue or job opportunities to justify their expense. The state is now examining whether these incentives are truly beneficial or if they disproportionately favor large, out-of-state production companies at the expense of local taxpayers. There's also a mention of potential reforms or adjustments to these programs to ensure they align more closely with the state's economic development goals.

Read the Full Yahoo Article at:
[ https://www.yahoo.com/news/hawaii-tax-credits-scrutinized-state-160300007.html ]