Economics and Finance

CSG Midwest
Supply chains linking Canadian and U.S. companies play a crucial role in provincial and state economies, and two recent studies underscore just how important they have become in the world’s largest binational trading relationship.
CSG Midwest
Using a site where B-24 bombers were made during World War II in a factory built by Henry Ford, Michigan hopes to build on its heritage as a hub of automotive manufacturing and innovation and become the world’s leader in autonomous vehicle technology.
In July, citing the creation of more and better jobs in the state’s thriving automotive industry, Gov. Rick Snyder announced the approval of $17 million in startup funds for the creation of the American Center for Mobility in Ypsilanti.
CSG Midwest

The U.S. Department of Labor unveiled a new rule in August that it hopes will remove uncertainties about the role of states in administering retirement plans for private-sector workers. Thus far, eight U.S. states, including Illinois (SB 2758, enacted in 2014), have passed laws to create payroll-deduction IRA programs. They are designed to help individuals who don’t have workplace savings arrangements such as a 401(k) plan. (One-third of U.S. workers do not have access to retirement savings plans through their employer.)

On Sept. 2-8, a CSG-sponsored delegation of state leaders visited China to discuss regional policy issues and learn about bilateral relations. Over the course of the six-day trip, the delegation met with Chinese officials from the provincial, city and local levels in Beijing, Jinan and Shanghai. Additionally, the delegation met with Chinese nonprofit leaders to discuss cultural and social exchange programs and participated in an international convening of sister cities.

There are not many questions of public policy that economists widely agree upon. The benefits of free trade, negative impacts of rent controls, and the infeasibility of returning to a gold standard, are a few.  Add to that list the use of tax-exempt municipal bonds to subsidize the construction of professional sports complexes, a practice that 85% of surveyed economists disagree with.

What do natural disasters, the sharing economy and an aging population have in common? These are all policy topics where a basic knowledge of risk management and insurance can help state leaders make better policy decisions. In collaboration with The Griffith Insurance Education Foundation, The Council of State Governments addresses these topics and more throughout a four-part webinar series designed to provide public policymakers with a greater understanding of risk management insurance through the lens of emerging issues. 

Natural resource extraction is a key component of many Western states’ economies and often generates a sizeable share of state revenue. However, natural resources are finite, the price of energy commodities is increasingly unpredictable, and revenues are volatile and tough for state forecasters to accurately predict. As a result, many states have created severance tax-based sovereign wealth funds to set aside a share of today’s revenue in order to generate investment earnings for state use in the future. This free CSG eCademy features Patrick Murray of The Pew Charitable Trusts, who presents findings and policy recommendations from a new research brief, including challenges and opportunities for state policymakers in energy-producing states.

In May 2016, the national unemployment rate fell to 4.7 percent, which is the lowest rate in eight years. The unemployment rate was 5 percent when the Great Recession began in December 2007, and it peaked in October 2009 at 10 percent.

In April 2016, the Kentucky Lottery began selling lottery tickets and offering ‘instant play’ arcade-style lottery games all via their website, making Kentucky the fourth state that sells lottery tickets online and the third state to offer online gaming. Massachusetts is eyeing a similar path, according to the Boston Globe. Supporters...

The Obama Administration announced yesterday awards totaling $38.8 million for 29 economic and workforce development projects across seven states – Alabama, Kentucky, Ohio, Pennsylvania, Texas, Virginia, West Virginia – to assist communities negatively impacted by changes in the coal industry.

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