17 Jan 2013

American Samoa offers tax deal for job creation

5:38 am on 17 January 2013

The new governor of American Samoa Lolo Matalasi Moliga says tax exemptions will be offered to any business that creates a new job.

The promise is part of the government's plan to develop the territory's economy which for the last 30 years has in the main depended on the tuna industry.

Governor Lolo says the amount of the exemption will be tied to a company's wage bill and the tax break would be up to 10 years as long as the job exists.

He says locally owned businesses will also receive assistance in getting venture capital through the Development Bank of American Samoa.

In addition, Governor Lolo wants compliance with a law earmarking 500,000 US dollars for the Development Bank for business loans.