Business & Job Creation
Businesses need a friendly and fair business environment so they can compete, innovate, and create jobs. We’re keeping politicians from playing favorites by offering special deals and tax breaks to the favored few.
Senate Republicans recently announced their intention to balance the state budget without increasing taxes, as suggested by the governor. That will require significant reductions in spending.
ASU economist and professor Dennis Hoffman recently argued that reducing state spending by $1 billion would "significantly worsen and lengthen the economic recession." He estimated that 20,000 workers, including 12,000 private employees, would lose their jobs.
Business interests who supported the Arizona Corporation Commission's power grab over energy policy may be having second thoughts after the election of at least two self-described liberals to the five-member body. Combined with holdover Commissioner Kris Mayes, they will give the Commission a solid majority favoring more government control in the energy business.
President-Elect Obama wants to make good on his promise to create 2.5 million jobs by investing heavily in infrastructure, including retooling public buildings to make them more "green." Unsurprisingly, those in the construction industry cheered this news: after all, they stand to gain directly from this government largesse.
When the Goldwater Institute filed a lawsuit challenging the Arizona Corporation Commission's authority to impose renewable energy standards--at a projected cost to rate-payers of $1.2 billion--we received lots of questions about why we were doing so. After all, the Commission was controlled completely by conservatives, who could be trusted not to over-reach their authority, right?
By any reading of the man, George W.P. Hunt -- Arizona's first governor -- was a progressive Democrat. He favored creating an income tax, extending the right to vote to women, and passing compulsory education laws. But when it came to drafting a constitution that would bring Arizona into the union as the 48th state, "Old Walrus," as he was called for his weight of about 300 lbs and his handlebar mustache, presided over a convention in 1910 that banned nearly all government subsidies to private business.
With a gross state product of $247 billion, Arizona's economy ranks with Hong Kong and Switzerland, two of the world's leading financial hubs. Our productivity exceeds the oil-rich United Arab Emirates and 187 other nations. On the world stage, Arizona is a player.
Our Southwest location opens the door to particular opportunities from tourism and mineral production to electricity generation. But we need not be limited to innate advantages. Ireland, India and today's economic engines aren't products of a natural-resource jackpot, but the end results of deliberate decisions.
Today would have been the 100th birthday of pioneering economist, author and school choice advocate Milton Friedman. In honor of the Nobel prize-winning professor, here's a quick video he made using a simple pencil to show how the free market promotes harmony and world peace.
Months after cries of “emergency,” the City of Glendale will be given another season to try to keep the Phoenix Coyotes hockey team playing in the desert.
Last year, the Glendale City Council approved a contract with Chicago millionaire Matthew Hulsizer to buy the team with the help of $116 million in municipal bonds backed by taxpayer dollars. The council declared that the bonds were an “emergency,” which took away the taxpayers’ right to petition for a public vote on the deal.
With government at all levels routinely violating its own laws, it is a joy to write about one that is doing the right thing.
When developers approached Peoria, Ariz. about building a regional medical center, city officials were delighted—until the developers demanded a subsidy, initially a waiver and eventually a deferral of $1.2 million in fees and taxes.
New Goldwater Institute Analysis Says Strengthening Fraud Laws Could Protect People Without Hurting the Economy