[r52] Letter to the Editor: Fiscal Frugality Fosters Jobs (8/27/2010)

Friday, August 27, 2010

Start Date: 8/27/2010 All Day
End Date: 8/27/2010
During these difficult economic times, Indiana has chosen to control spending instead of raising taxes. This has meant budget cuts and shifting of funds to keep our state operating in the black. In recognition of our great tax climate, we were ranked 4th in the nation for our business tax and regulatory climate, according to the U.S. Chamber of Commerce.

But what most people don't realize is perhaps the most important side effect of our fiscal frugality: Indiana now has AAA Bond Credit Rating.

Among other things, this means that the state's school corporations and universities could borrow money at a lower interest rate. And when schools and other state entities can do that, precious taxpayer dollars can go where they are needed most.

A financial environment like this cultivates business. Even though our community is slowly beginning to see the light at the end of this economic tunnel, we are certainly not out of the tunnel yet. My colleagues and I are building a job friendly environment that encourages both small and large businesses to build and expand their companies in Indiana. 

In our area, we've seen several encouraging jobs announcements made in recent months:

·         Metal Technologies Auburn created 32 permanent jobs and 20 temporary ones last year.

·         Specialized Component Parts Limited, Inc. intends to create 30 jobs by 2012.

·         Izzy, formerly Jami, Inc. said last year that it intends to have created 115 jobs by 2012.

·         Therma-Tru Doors intends to create a total of 150 new jobs by next year.

·         Edy's Grand Ice Cream announced 50 new hires last year.

·         BAE Systems said last year that it intends to add 200 positions.

·         Electric Motors and Specialties has added 11 full-time jobs since this spring.

We can be proud that these companies are choosing Indiana- especially northeast Indiana- to expand operations.

We have come far, but we still have a lot of work to do.

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Rep. Dave Yarde (R-Garrett) is a small business owner and fifth grade teacher.