The news is peppered with stories about the state of the economy. Some point to economic indicators which demonstrate that the federal stimulus is working, production is up, and employment levels are stabilizing. On the other hand, some are less enthusiastic, arguing that unemployment is on the rise and recent growth initiatives aren't helping.
On top of that, readers have to wade through a lot of partisan rhetoric and spin stories, articles that proclaim success or denounce failure as a means to put their party up and keep the other down. These accounts, instead of doing any honest probing into the roots of the problem and the solutions on hand, steer us away from an honest and constructive discussion.
The bottom line is that the economy is in much better shape than it was eight months ago. The nation's gross domestic product (GDP) just grew for the first time since the decline, stocks and private investments are up, and the rate of job loss has decreased. Most importantly, it's clear now that the action taken by the federal administration and state governments prevented another long and dismal Great Depression.
Still, we're by no means out of the woods. Despite the fact that unemployment in Wisconsin has been steadily decreasing since March, the national unemployment level has risen to 10.2 percent. I've spoken with constituents who are looking for work, and there's no doubt that we need to address the jobs issue more directly.
To create jobs and sustain economic growth, we need to encourage more private investment in jobs as the effect of the stimulus fades. While the stimulus has complimented private investment and increased demand for various goods, policymakers need to give businesses additional means to increase production and hire more labor. This can be achieved through incentives - financial supports that enable businesses to create jobs and avoid layoffs.
In Wisconsin, we created the Jobs Tax Credit program and expanded the Enterprise Zone Tax credit program to assist businesses that create and retain family-supporting jobs. Also, we're working to target job creation in manufacturing and renewable energy by providing incentives to businesses that re-tool factories for green production. These incentives give businesses the stepping stone they need to retain and expand their workforce.
Secondly, we need to continue making investments in our infrastructure. When I talk with local business owners, they tell me that a well-maintained system of roads, public utilities and communications systems is essential in reducing costs and increasing productivity. And not only can infrastructure improvements foster business growth, they can create the jobs the private sector has been slow to recoup. The public works projects of the 1930s put millions of Americans back to work at a relatively low cost. These programs weren't handouts; they provided real jobs to real people, instilling optimism and generating major returns for private businesses and middle class families. Since last fall, Wisconsin has invested $250 million in infrastructure projects, and we need to continue investing in areas like broadband and agri-tourism to ensure the long-term growth of local communities.
Finally, we need to help struggling workers re-enter the labor force. This comes in the form of job training, reintegration services, and other measures that ultimately increase the productive capacity of our workforce. At the state level, we met this task by increasing investments in our tech college system, the frontline of worker retraining and reintegration efforts. Also, along with the federal government, we extended unemployment benefits to help workers get back on their feet. As for an additional area of focus, we have to ensure that students and transitioning workers have a direct connection to the businesses that are creating jobs. Supporting programs that build these relationships will ensure that companies have the labor they need and workers have access to a steady job.
The point is that we've turned a corner, but we need to follow through on the early gains. Government and the private sector must continue to work together, and they must compliment one another, as they are designed to do. That way, we can achieve our goals to increase employment, close the mounting gap between rich and poor, and ensure sustainable growth.
- Rep. Steve Hilgenberg, D-Dodgeville, represents almost all of Iowa and Lafayette counties, the southern portion of Sauk County and the southeast corner of Richland County in the Wisconsin Assembly. He can be reached by calling toll free (888) 534-0051 or e-mail rep.hilgenberg@legis.wi.gov or regular mail PO BOX 8952, Madison, WI, 53708.
On top of that, readers have to wade through a lot of partisan rhetoric and spin stories, articles that proclaim success or denounce failure as a means to put their party up and keep the other down. These accounts, instead of doing any honest probing into the roots of the problem and the solutions on hand, steer us away from an honest and constructive discussion.
The bottom line is that the economy is in much better shape than it was eight months ago. The nation's gross domestic product (GDP) just grew for the first time since the decline, stocks and private investments are up, and the rate of job loss has decreased. Most importantly, it's clear now that the action taken by the federal administration and state governments prevented another long and dismal Great Depression.
Still, we're by no means out of the woods. Despite the fact that unemployment in Wisconsin has been steadily decreasing since March, the national unemployment level has risen to 10.2 percent. I've spoken with constituents who are looking for work, and there's no doubt that we need to address the jobs issue more directly.
To create jobs and sustain economic growth, we need to encourage more private investment in jobs as the effect of the stimulus fades. While the stimulus has complimented private investment and increased demand for various goods, policymakers need to give businesses additional means to increase production and hire more labor. This can be achieved through incentives - financial supports that enable businesses to create jobs and avoid layoffs.
In Wisconsin, we created the Jobs Tax Credit program and expanded the Enterprise Zone Tax credit program to assist businesses that create and retain family-supporting jobs. Also, we're working to target job creation in manufacturing and renewable energy by providing incentives to businesses that re-tool factories for green production. These incentives give businesses the stepping stone they need to retain and expand their workforce.
Secondly, we need to continue making investments in our infrastructure. When I talk with local business owners, they tell me that a well-maintained system of roads, public utilities and communications systems is essential in reducing costs and increasing productivity. And not only can infrastructure improvements foster business growth, they can create the jobs the private sector has been slow to recoup. The public works projects of the 1930s put millions of Americans back to work at a relatively low cost. These programs weren't handouts; they provided real jobs to real people, instilling optimism and generating major returns for private businesses and middle class families. Since last fall, Wisconsin has invested $250 million in infrastructure projects, and we need to continue investing in areas like broadband and agri-tourism to ensure the long-term growth of local communities.
Finally, we need to help struggling workers re-enter the labor force. This comes in the form of job training, reintegration services, and other measures that ultimately increase the productive capacity of our workforce. At the state level, we met this task by increasing investments in our tech college system, the frontline of worker retraining and reintegration efforts. Also, along with the federal government, we extended unemployment benefits to help workers get back on their feet. As for an additional area of focus, we have to ensure that students and transitioning workers have a direct connection to the businesses that are creating jobs. Supporting programs that build these relationships will ensure that companies have the labor they need and workers have access to a steady job.
The point is that we've turned a corner, but we need to follow through on the early gains. Government and the private sector must continue to work together, and they must compliment one another, as they are designed to do. That way, we can achieve our goals to increase employment, close the mounting gap between rich and poor, and ensure sustainable growth.
- Rep. Steve Hilgenberg, D-Dodgeville, represents almost all of Iowa and Lafayette counties, the southern portion of Sauk County and the southeast corner of Richland County in the Wisconsin Assembly. He can be reached by calling toll free (888) 534-0051 or e-mail rep.hilgenberg@legis.wi.gov or regular mail PO BOX 8952, Madison, WI, 53708.
