job creation
Ohio to spend $1.4 billion to attract jobs. Will it work?
A USA TODAY review of historical data indicates that Ohio launched what appears to be the biggest intervention in the private economy by a state government since the Great Depression. Ohio’s attempt to revive its economy is a real-life case of how states act as a laboratory of democracy and will test a provocative economic question: Can government direct the economy into the future, or is that best done by a free market? Full article.
Creating Rural Jobs in the Bioeconomy
Southern Growth Policies Board recently released a report on creating rural jobs through the development of a region’s biocommunity. The report indicated that a 2009 Bio-ERA study found that 46 percent of the job creation in the development of advanced biofuels came from feedstock development and procurement that includes energy crops, agricultural residues, and forest residues. Full article.
Governor Jindal works to extend Enhancements of Critical Business Incentives
Gov. Jindal recently announced he will work to extend the Quality Jobs Program, the Research and Dev Tax Credit & the Technology Commercialization Credit/Jobs Program to keep the state competitive in attracting business investment and spur job creation. The Quality Jobs program encourages businesses to locate or expand operations in Louisiana by providing tax incentives for job creation and capital investment. Full article.
Chevron to establish La. warehouse for Gulf
Chevron Corp. plans to build a warehouse of at least 100,000 square feet to help coordinate transportation, logistics and maintenance for its work in the Gulf of Mexico region in the Terrebonne Parish town of Gray. The facility will create about 25 jobs, and will be the first of its kind for Chevron. Full article.
Money is now available for Louisiana Steel Mill
Financing plans for steelmaker Nucor Corp.'s proposed iron and steel plant in St. James Parish recently received approval from state officials. Without objection, the state bond commission agreed to give Nucor $30 million from the state's construction budget. The first phase is expected to create 150 jobs. Full article.
LA Tied for Third in Job Creation
LA is tied with West VA for the third spot in the Gallup Job Creation Index, which is based on 100,000 daily tracking interviews with Americans over the course of last year. While all states saw their job outlook darken in 2009, energy-producing states such as LA, West VA and N. Dakota held up the best. Full Article.
Tax Incentives and Job Creation
Business Week reports, "States are doling out billions to woo companies and revive local economies. But their incentives may be undermining America's recovery plan." The article claims that states have given a record $50 billion in tax breaks in the past year. Arthur J. Rolnick, vice president and research director for the Federal Reserve Bank of Minneapolis, says the the increase in tax breaks "undermines the economic union, and it misallocates resources.
