BUSINESS BRIEFS
Isles still tops in costs to business
Advertiser Staff and News Services
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.
