BUSINESS BRIEFS
Isles still tops in costs to business
Advertiser Staff and News Services
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Hawai'i, New York and Alaska are the most expensive states for businesses, maintaining the top three spots for the second consecutive Milken Institute Cost-of-Doing-Business Index.
All three states increased their overall year-over-year costs. A major factor in the rankings is the cost of electricity.
South Dakota, meanwhile, maintained its position as the least-expensive state for business, decreasing its costs to 30 percent below the national average.
The Cost-of-Doing-Business Index measures wage costs, taxes, electricity costs and real estate costs for industrial and office space.
CYANOTECH FILES OVERDUE REPORT
Kailua, Kona-based Cyanotech Corp. yesterday filed its overdue fiscal 2007 financial report with the Securities & Exchange Commission.
During the year ended March 31, the maker of nutritional supplements lost $7.4 million, or $1.42 a share, compared with a net loss of $391,000, or 7 cents a share, for fiscal 2006. Net sales for fiscal 2007 fell 13 percent to $9.7 million.
INCODE RECEIVES $3M INVESTMENT
InCode BioPharmaceutics Inc. in Lahaina received $3 million in venture capital from Avalon Ventures during the second quarter, according to the PriceWaterhouseCoopers Moneytree survey.
The company is developing therapeutic compounds to treat autoimmune disorders.
