ECONOMY

Business Tax Cuts And Commitment To Education Are Necessary

It’s true that New Hampshire’s economy has grown, and unemployment levels are at all time lows; however those who take credit for these numbers including politicians and interest groups should do so with caution. The nation’s economy picked up significantly after the Great Recession and New Hampshire, like most states in the country benefitted.

American’s for Prosperity claim New Hampshire’s results are due directly to cutting the business taxes. Director Greg Moore makes this point in a Your Turn piece in the May 2, 2016 Union Leader. No doubt cutting business taxes has some stimulus effect, but I’m more interested in the case made by Jim Roche, President of the Business and Industry Association of NH, for focusing on workforce development and sustainable economic growth.

Roche says “when employers are considering expanding operations, high on their list of requirements is a workplace-ready, available pool of skilled workers. If New Hampshire falls behind in its commitment to workforce development, we create barriers for employment growth.” Roche made his comments in an April edition of the NHBR.

Roche and the BIA believe workforce development is essential for continuing our economic expansion and says fewer people are entering the workforce with all the skills required to perform effectively, whether it’s routine office tasks or those tasks requiring technical proficiency.

Workforce development affects manufacturing, health care, professional and financial services, high technology and more and Roche claims that “creating and sustaining and retaining a viable workforce that can support current and future business and industry needs is critical to ensuring economic prosperity for all.

Roche and Moore certainly have different views on growing the economy and maintaining full employment, however the BIA puts forward a thought out plan to support educational, results oriented programs that will get the attention of businesses and encourage expansion here. We must demonstrate to New England and the United States that we are committed to providing a workforce that business and industry covets.