Law professor Randy Roth's “;Gathering Place”; commentary (Jan. 13) about Act 221 ignores several facts. He contributes to a shortsighted perception of perhaps the most productive economic stimulus plan yet to diversify Hawaii's economy with technology and renewable energy companies.

Consider the following:

» Act 221 is the only proven economic stimulus creating high-paying jobs for our children who want to stay in Hawaii, come home and be with family or raise a family here. What alternative do critics of Act 221 offer? One hundred seventy-seven qualified high-tech businesses reported to the Department of Taxation creating 2,245 jobs in 2007, of which 1,450 were full-time positions. The average salary for a full-time position was $76,790.

» For every dollar of local investment, $3 of additional investment comes into the state from outside of Hawaii. Act 221 does not cost the state money; it brings money into Hawaii.

» Between 2001 and 2007, Act 221 stimulated $1.2 billion of investment in Hawaii companies, which then spent $1.4 billion in Hawaii. This money goes right back into the economy. It is largely spent on salaries that also contribute income taxes and general excise tax.

» Act 221 capitalizes on 25 years of state investment in the tech sector, starting with Gov. George Ariyoshi's administration in the mid-1980s. Let's reap the investment we've made over those years: Mililani Tech Park, Manoa Innovation Center, Pacific International Center for High Tech Research, John A. Burns School of Medicine, Hawaii Technology Development Corporation, Maui Research and Technology Park and others.

» Hawaii's tech sector is growing rather than shrinking. It's now more than a quarter the size of tourism, and almost as big as our construction sector. And the tech sector is not subject to the whims of tourists or real estate developers. Keep in mind that the tech industry is $3 billion, tourism is $11 billion and construction is $3.5 billion.

  Tax audits of Act 221 deals are few because assertions of abuse are largely unfounded. Other negatives cited were corrected with Act 215 in 2004, such as credit shifts greater than two for one.

Not all Act 221 investments will succeed. Some companies might have to move to the mainland for strategic business reasons. If we do not extend Act 221, we will most certainly lose many of the companies started here with Act 221 investments. Ultimately, odds are good that Act 221 companies will mature, create more high-paying jobs and return much more in tax revenues and local expenditures than investors have ever taken in credits.

That's why qualified investors put their money into qualified high-tech and renewable energy businesses in Hawaii. They expect that their returns will exceed the amounts they invest. Hawaii should look at it exactly the same way.