Widely regarded as an old economy state, Wisconsin must reinvent itself as a model of the new economy. That is why last week, more than 850 state leaders came together for the first-ever Economic Summit in Milwaukee to create a strategic economic development plan for Wisconsin in the 21 st Century. Business and labor representatives, academicians, state and local government officials and members from non-profit community associations joined together to examine the state's economic past, present and future.
Businesses are the engine that drives Wisconsin's economy.
Wisconsin businesses contribute heavily to a community, not only with jobs, but to charities, the arts, recreation, public safety, good schools, and other community projects. But, measures that impede business growth hurt every citizen in the state. With that reality in mind, we need to get back to basics and look at our tax structure and regulatory climate as solid steps that the state of Wisconsin can take today to prepare us for the new economy. If Wisconsin is to flourish in the new economy, the state must reduce its tax burden and loosen its regulatory grip. Wisconsin's economy will only continue to thrive in a climate of tax cuts, regulation relief, tort reform, education reform, employment law reform and an improved transportation system.