Saturday, July 14, 2007

Virginia's Outstanding Economy

This Global Insight report explains why Virginia's economy is so outstanding, and one of 5 states with unemployment rates below 3% (others are Utah, Hawaii, Montana and Idaho; green states on the chart above, click to enlarge):

Top 10 Reasons Virginia's Economy is Booming:

1. Pro-business reputation
2. Low unemployment insurance and workers' compensation costs
3. Same, low corporate tax rates for the last 35 years
4. Tax credits for creating jobs
5. Right-to-work laws
6. Skilled work force
7. Accelerated permit process
8. Good transportation networks
9. High worker productivity
10. Good telecommunication networks

Michigan, with the highest jobless rate in the country at 6.9% (see the only 2 red states above: Michigan and Mississippi), could learn a few lessons from states like Virginia. The message seems pretty simple: make a state pro-business and the jobs will follow.


At 7/16/2007 8:00 AM, Anonymous Anonymous said...

You could also add massive amounts of government contracting...


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