According to the American-Statesmen, Tesla has picked Nevada as the site for its new $5 billion “gigafactory” battery plant, which will reportedly create 6,500 direct jobs. Tesla's siting search set off a bidding war among a number of states to offer the most enticing location package, including big bucks for tax and financial incentives. According to the Las Vegas Review JournalNevada will offer Tesla state and local tax breaks and credits worth around $1.3 billion. That includes an elimination of all state and local sales and use taxes until June 2034 and a 100 percent abatement of the real property tax, the personal property tax and the modified business tax until June 2024. Nevada does not have a corporate income tax.

In a fiscal environment with much competition for limited state resources, state leaders need the ability to make data-driven policy decisions more than ever before. Increasingly, state leaders are using economic analysis software and data systems to predict economic impacts. Users have used one of those programs, IMPLAN, to estimate the direct, indirect, induced and total impacts of foreign direct investment to their state’s economy including the number of jobs supported, labor income, total value added and tax revenue.

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Since 2010, no U.S. state has come close to matching the population boom in North Dakota. Numbers in that state have jumped by close to 8 percent — more than three times the U.S. average.
“I never thought I would read the words, ‘The highest population growth … was in North Dakota,’” Joel Kotkin said during his keynote speech at the Midwestern Legislative Conference Annual Meeting. “It’s just an astounding statistic.”
The state’s oil and gas boom has largely fueled the recent migration patterns, but in his July presentation to the region’s state and provincial legislators, Kotkin argued that there is also more to the story. A mix of economic, demographic and technological realities has made North Dakota and many other parts of the Midwest more alluring destinations for individuals, families and businesses.
“We’re seeing a demographic shift along with the economic shift,” he said. “People are reconsidering their options. Where are they going to live? Where do they want to be?”
Where are information technology jobs most concentrated? How is automotive job growth shifting across the nation? What areas specialize in businesses related to food processing? This kind of data is now available through a new web-based initiative (...
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Concerned about the economic impact of a proposed fee increase on truck shipments moving across the U.S.-Canada border, the Midwest’s state and provincial legislators are urging the U.S. Department of Agriculture to reconsider the plan.
The Midwestern Legislative Conference adopted the resolution on the final day of its four-day Annual Meeting in Nebraska. It originated from the MLC’s Midwest-Canada Relations Committee, which met on the first day of the meeting.

ANCHORAGE, ALASKA—The future of the country’s economic success appears to be a team effort. “One of the most important keys to our national growth and economic success is supporting a highly trained workforce,” West Virginia Gov. Earl Ray Tomblin said at CSG’s Policy Academy on Workforce Development, held Aug. 9 at the CSG National and CSG West Annual Conference in Alaska. “Education is the number one qualifier for jobs of today and tomorrow.”

NOW, THEREFORE BE IT RESOLVED, that The Council of State Governments urges the U.S. Congress to pass reauthorization of Ex-Im Bank before the current authorization extension expires September, 2014.

America’s economic engine is fueled by intellectual property rights, which drive innovation and protect consumers. “There isn’t a sector in the economy that isn’t driven by IP today,” Former Washington Attorney General Rob McKenna told the CSG Intergovernmental Affairs Committee Monday afternoon. The direct and indirect economic impacts of innovation are overwhelming—accounting for more than 40 percent of U.S. economic growth in employment, 30 percent of higher wages and 74 percent of total exports.

Just as growing a garden requires tending, so, too, does growing the businesses that fuel a state’s economy. That was the message of experts at the CSG West Economic Development and Trade Committee session Saturday.

While many states attempt to lure big companies, in most cases, this comes with a high price tag for state governments in the form of expensive incentives.

That’s why Oklahoma started a program to support small startup companies.

America’s economic engine is fueled by intellectual property rights, which drive innovation and protect consumers. Innovative and creative companies perform better and contribute more to local economies than their counterparts. The direct and indirect economic impacts account for more than 40 percent of U.S. economic growth and employment, 40 million American jobs, 30 percent higher wages and 74 percent of total exports. This session highlighted the latest developments in intellectual property and how they affect your state.