Latest / Commentary - TJ Meadows / Jobs Can Fix a Lot, Including Bad Stats
Transcript
- 0:01Speaker 1: The West Virginia Chamber of Commerce has released its annual
- 0:04Speaker 1: campaign for Jobs Digest, and the numbers are not good.
- 0:09Speaker 1: West Virginia ranks last in the nation for job growth
- 0:12Speaker 1: over the past decade and 49th in personal income. Our
- 0:16Speaker 1: tax burdens remain high, while research spending, educational outcomes, home
- 0:21Speaker 1: price appreciation, and labor force participation continue to trail much
- 0:26Speaker 1: of the country. So, what's the fix? Jobs Digest. Jobs
- 0:31Speaker 1: and more jobs. Companies create jobs and companies compare the
- 0:35Speaker 1: cost of investing here with the cost of investing in Ohio, Pennsylvania, Virginia,
- 0:41Speaker 1: and elsewhere. Taxes are part of that calculation alongside labor, energy, land,
- 0:46Speaker 1: and transportation. West Virginia has abundant natural resources and enormous
- 0:52Speaker 1: energy potential. Those are real advantages, especially for energy-intensive industries
- 0:58Speaker 1: such as data centers. But we must reduce the hurdles
- 1:02Speaker 1: that discourage investment. When lawmakers return to Charleston, they should
- 1:06Speaker 1: examine whether the state's tax structure makes West Virginia competitive
- 1:10Speaker 1: enough to attract new employers and help existing businesses expand.
- 1:16Speaker 1: More investment can mean better paying jobs, higher incomes, greater
- 1:20Speaker 1: consumer spending, and ultimately more government revenue from a larger economy.
- 1:26Speaker 1: But West Virginia also needs more people. Ascend West Virginia
- 1:31Speaker 1: has received more than 92,000 applications and attracted over 1,500
- 1:36Speaker 1: new residents. More than 96% have remained and 41% have
- 1:42Speaker 1: bought or built homes. That is success worth expanding. The
- 1:47Speaker 1: legislature should also consider a substantially larger investment in Ascend,
- 1:52Speaker 1: bringing more working, tax-paying residents here sooner rather than later.
- 1:57Speaker 1: Economic growth requires two things. West Virginia has struggled to
- 2:01Speaker 1: produce consistently. More jobs and more people. We should pursue
- 2:07Speaker 1: both as aggressively as we possibly can. Onward and upward.