Thursday, November 11, 2010

A small busienssmans perspective on what we can do

I have had the privilege of owning more than one type of business and been involved in different sectors of the economy. So I believe that I have a perspective that few have. It is well documented that business and small business is sitting this one out due to the uncertainty of all the taxes and regulations that are coming down the road from Washington. What are we to do from a state standpoint; well I believe that we need to create an atmosphere of certainty. This means a long term commitment of lower taxes, lower regulation and a strong front against the efforts of Washington in terms of its policies. Regionally we are in a good spot, with California going broke, and all the inventory of vacant land, housing, commercial properties etc. Nevada has to clearly set itself apart, to create jobs and opportunity. Nevada needs to go back and relook at what has been put into place in a regulatory, fee and tax structure and see if these items are really needs. And what cost structure was put into place and the effects on the industry that it was placed on. This will not be easy; there are those that will have to bend on EPA, tax and regulatory policy. For too incentivize our business community we have to allow for them to make money. To diversify we have to allow for a broad base easing of the cost that we have placed on business. Nevada will gain for the folks leaving California, if our message is clear. If not we will continue to wallow.

I have seen the opportunity leave this area and this state. Much of the regulations and tax and fee structure has come from an overreach on the public sector over the private sector. I regret that we are going to lose some public sector jobs, but history has shown that if we can jump start our economy, the benefits in taxes and revenue generation will erase any of those concerns. Just look at Virginia, which had a budget deficit in the Billions and now are only second to Texas in job growth, and tax revenue. Nevada regionally can, and in my thoughts must commit to lowering our tax and regulatory structure to bring in regionally a much more diverse economy. We can use our negatives as a positive. We have vacant housing, which is becoming more and more competitive in pricing. We have the empty buildings to bring in service business. We have large warehouses that can accommodate manufacturing. All these are possible if we act. But we have to look inward first and reduce regulations and fees and taxes. We have to stream line.

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