U.S. Chamber President Offers Minnesota a Plan for Improving the State’s Economy, Spurring Job Creation

Donohue Outlines How to Turn Economic Recovery Into a Jobs Recovery

MINNEAPOLIS, MN—In an address to the Economic Club of Minnesota today, U.S. Chamber of Commerce President and CEO Thomas J. Donohue offered the business community’s four-point plan “to turn this economic recovery into a jobs recovery” in 2011.

“Minnesota begins 2011 in a lot better shape economically than last year. Our recovery – while it appears to have taken hold – is still fragile and uneven,” Donohue told more than 200 guests during today’s luncheon address. He pointed to the state’s unemployment rate, which is two points below the national average but still higher than preferred, and the state’s budget crisis, a two-year budget shortfall of $6.2 billion. “There are many unanswered questions that must be addressed before companies will start aggressively hiring,” he said.

Donohue’s speech is the first in a series of discussions nationwide that build on his recent State of American Business address, which offers the four immediate priorities that the Chamber will address to boost Minnesota’s – and America’s – competitiveness in the global economy:

1. Regulatory restraint and reform—Work to reform the regulatory process—to restore some badly needed balance, restraint, and common sense. We will also stand up a new group to tell the story to the American people about the massive costs of excessive regulations on jobs and their personal and economic freedom.
2. Expanding American trade—Work to pass the pending free trade agreements and launch a major initiative to educate citizens and policymakers on trade that will clearly link global engagement to American jobs.
3. Rebuilding our economic platform—Rebuild America’s economic foundation—the platform our society runs on. Roads, bridges, rail and mass transit networks, ports and waterways, airports, and air transport systems must be modernized. Broadband capacity, power generation, and water supplies must be expanded. We can create jobs, reduce our trade and budget deficits, and increase our own security by developing all forms of alternative, renewable, and traditional energy. We will also commence a new project to outline what our nation must do to create and secure a 21st century global supply chain and logistics system.
4. Reducing deficits and debt—Support congressional efforts to lower spending. We will make the case for entitlement reform as any plan that fails to tackle these runaway programs is doomed to fail. We will also support efforts by Republican and Democratic governors to challenge public employee unions and their excessive payroll, health, and retirement demands.

“Our key objectives are to turn an economic recovery into a jobs recovery,” Donohue said. “It’s time to begin addressing the structural challenges that are impediments to sustainable, long-term growth. It’s time to fundamentally enhance American competitiveness.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

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