Democracy - Democrats Are Better

Barrett Campaign: Barrett unveils comprehensive plan to create Wisconsin jobs
5/20/2010

Contact: Phil Walzak
(414) 271-8050

Milwaukee – Tom Barrett today unveiled a smart, ambitious agenda to create jobs and grow our state's economy as Wisconsin governor.

Tom's detailed job creation vision will improve Wisconsin's business climate, encourage entrepreneurship at the heart of the new global economy, spur new business activity, jump-start needed construction, and develop the workforce talent to attract new businesses to our state quickly.

To achieve these critical objectives, Tom's aggressive and specific plan leverages Wisconsin's traditional strengths in manufacturing, agriculture, and outstanding institutions of higher learning to sustain growth in emerging new industries. His vision features specific plans for investments in financial capital, our colleges and universities, and workforce skills that make the difference in whether the high-paying jobs of the future come to Wisconsin or go elsewhere.

"Everyone understands that businesses create jobs, but we can build an even stronger economy in Wisconsin with a full partner in the governor's office paving the way," said Barrett. "We need ideas and action to get Wisconsin's economy moving. We need policies that will trigger the creation of jobs immediately – not vague promises to create jobs in the distant future. And we need a comprehensive plan that will build long-term economic success – not simplistic ‘solutions’ and slogans.

Tom's proactive plan features dozens of inter-related ideas to address our economic future, and is built around five core principles to create Wisconsin jobs:

Targeted tax cuts to help spur private sector job creation. Tax cuts and other incentives for businesses must be directly linked to creating jobs. As Governor, Tom will make sure that tax cuts are targeted to employers that will utilize them to actually create jobs and invest in Wisconsin. He will:

•Launch the construction projects we need to strengthen our economic infrastructure and create jobs immediately.
•Increase research & development expenditures, as well as patent and software royalties, to encourage development of the products of the future right here in Wisconsin.
•Create venture capital and angel investments, to ensure that Wisconsin entrepreneurs have the capital they need to launch new businesses.
•Make investments in bio-fuels, green buildings, and the other new technologies we need to lower our energy costs, achieve energy independence, and make us more competitive in the industries of the future.
•Invest in dairy production and processing, and farming coops, to preserve the traditional backbone of our communities.

Jump-start job creation right now. Tom understands that our first goal must be to gain back the jobs Wisconsin has lost in the national recession. His plan includes a "Jobs Now" Initiative that will start immediately to provide the kinds of assistance and incentives that businesses need to create jobs quickly, such as:

•Cutting red-tape to get new construction projects going – projects that are needed for our long-term economic vitality.
•Investing in the workforce training and skills development that will attract new economic activity and translate into new job opportunities.
•Developing a pro-active rapid response team to quickly provide services to companies looking to expand. That team will be charged with fast tracking regulatory/permit issues, job training needs, and economic development assistance.
•Creating a business-to-business connector that will establish a database linking Wisconsin suppliers and encouraging more sales for Wisconsin businesses.

Put job creation in the Governor's Office. Right now, responsibility for economic development in Wisconsin is spread across 150 programs in 25 agencies. There is no substitute for leadership from the governor, and Tom’s plan will consolidate and organize economic development in an Office of Job Creation right in the Governor’s office, reporting directly to the Governor. Not only will this improve economic development, it will send a clear message to businesses across Wisconsin, the nation and the world that in Wisconsin under Governor Barrett job creation is job one.

Overhaul and streamline the state's entire economic development toolkit to make it more efficient and effective. Tom understands that, for the private sector to create jobs, the governor's office can pave the way, and must not be a roadblock. The state must play its role effectively and then get out of the way. As Governor, Barrett will order a complete performance review of all economic development programs to identify those that work and eliminate those that don't. He will simplify regulations and streamline the regulatory process to lighten the burden on business without sacrificing protections for workers, families and our environment. And he will create ‘one-stop shops' to expedite the permitting process so that businesses can start and expand in Wisconsin more quickly and easily.

Create a state venture capital fund. Wisconsin needs more venture capital if its entrepreneurs hope to create the kind of good-paying jobs that will transform our economy to compete in the 21st Century. We are home to one of the greatest research universities in the world. We have a skilled workforce and a legendary work ethic. However, we lag the region in venture capital availability and the region lags the nation. The Wisconsin Entrepreneur’s Fund would be a fund-of-funds modeled after the best elements of programs that have demonstrated effectiveness elsewhere in the nation. It would commit up to $100 million to eight to ten venture capital funds over five years that will raise at least $500 million million in aggregate funds that will generate new businesses, investments and jobs in Wisconsin.

"The global recession has hit Wisconsin hard. Too many of our workers are looking for jobs and too many of our families are struggling to get by," said Barrett. "But I have seen the great resilience of the people of Wisconsin, and I know we will get through this. All the people need is a partner in the governor's office who has a common sense agenda to create jobs. This plan is the heart of that partnership."

To read Tom's complete plan to create Wisconsin jobs, visit www.barrettforwisconsin.com/jobs.