Too often politicians and government officials believe economic development (job creation) occurs only through the actions of government. While government can knock down the barriers to job creation, it is more often an obstacle to job growth than its ally.
Most of the real growth created in our economy comes from the entrepreneurs and innovators who succeed by investing their savings and sweat equity, but high taxes and expensive regulations often are impediments. If the risk is too great or the costs of doing business are excessive, entrepreneurs either won’t invest or can’t afford to.
These realities were on my mind when we reformed Ohio’s tax code. We reduced taxes on income and investing in order to encourage more earning and investing in our state.
I have talked to many business owners who have taken the savings they realized from tax reform and used it to hire additional employees, who in turn helped them grow their businesses.
If you or someone you know is a business owner who has had a similar experience, or would like to share ideas on what government barriers exist to job creation in their businesses, I want to hear about it.
