ENTERPRISING STATES: Policies that produce is a just-released report from the U.S. Chamber of Commerce. It is an interesting and recommended read for anyone in the field of community and economic development.
One section caught my eye, and it should be included in any state’s discussion of its strategy for economic growth. It says that the states most likely to grow in the next decade will be defined by the following broad policy approaches:
• Parlaying their natural resources and historically competitive industry sectors into 1st century job creating opportunities.
• Paying attention to and addressing their competitive weaknesses.
• Supporting their companies’ business development efforts to reach an expanding global marketplace.
• Creating fertile environment and workforce for a technology-based and innovation-driven economy.
• Getting government, academia, and the private sector to collaborate effectively to make sure that more new ideas developed by companies and in research labs scale up into industries.
• Taking steps to make existing firms more productive and innovative, creating an environment in which new firms can emerge and thrive.
• Maintaining an affordable cost of living for middle-skilled and middle-class employees.
• Promoting education, workforce development and entrepreneurial mentoring.
• Fostering an enterprise-friendly business environment by cleaning up the DURT (delays, uncertainty, regulations, and taxes), modernizing government, and fixing deficiencies in the market that inhibit private sector investment and entrepreneurial activity.