The following appears in an article entitled “Economic specialist: Local development needs to be more than new factories” in the May 16, 2011 online edition of the Portage (WI) Daily Register:
What makes a good business climate?
A U.S. state once touted itself as a place with an optimal business climate. Its taxes were low. Regulations were lax. Land was cheap, and so was labor.
That state was Mississippi, and the year was 1936.
Steven Deller, specialist with the University of Wisconsin-Extension Center for Community Economic Development, said politicians still tout low taxes, lax regulations and cheap land and labor as necessary for creating a business-friendly environment.
“But if that were really true,” Deller said, “Mississippi should be doing pretty darn well. They’re not.”