May 8, 2003
ROMNEY OUTLINES JOBS PLAN, MAJOR NEW BIZ EXPANSION
Says Massachusetts should focus on “tapping our potential”
Governor Mitt Romney today outlined his administration’s economic development strategy, which has already begun to bear fruit with the planned $6 million expansion of Fujifilm to Massachusetts.
In a major speech to the Greater Boston Chamber of Commerce, Romney described his T.O.P. plan for economic revitalization, which stands for “Tapping Our Potential.” The plan focuses on creating more jobs, holding the line on taxes, taming the spiraling cost of living, curbing business costs, connecting our higher education system to regional workforce needs, and reforming government.
“As tough as our problems are, we have enormous potential in Massachusetts—a diverse economy, a highly-educated workforce and major academic and research institutions. We need the right agenda to unleash the power of these resources,” said Romney.
Romney said he was pleased to announce that Fujifilm Microdisks USA will build a new manufacturing facility in Bedford, which will bring nearly 100 new jobs. The company will use the facility to produce high capacity tape cartridges used in mainframe computers for activities such as banking, x-rays, MRIs, and space exploration.
The move was due in part to the assistance and support of the state’s Department of Economic Development, which is behind the creation of a new 600-acre regional high-tech center near Hanscom Air Force Base.
Romney said he personally called George Tanaka, the president of Fujifilm, and that the company agrees the “overall environment” in Massachusetts will help it successfully compete on a global basis.
This announcement comes just days after 3Com - a major West Coast company - unveiled their planned corporate relocation from Santa Clara, California to Marlborough, which in combination with the Fujifilm expansion provides a powerful one-two jolt to the state’s economy.
“Neither of these moves would have been possible without the tremendous resources and competitive advantage that the Commonwealth possesses,” said Romney.
Fujifilm Microdisks Vice President and General Manager Larry Chiarella thanked Romney and members of his Economic Development team for their assistance, calling it “a testament to the continuing support of technological innovation by Governor Romney, his administration and the Commonwealth.”
In outlining his six-pronged T.O.P. program, Romney made the following points:
MORE JOBS
Increase spending for the Department of Economic Development and rename it to the Department of Business and Technology;
Streamline the permitting process and provide site identification services for Massachusetts companies;
Work with the Greater Boston Chamber of Commerce and others to help identify businesses that might be interested in relocating to Massachusetts.
LOWER TAXES
Hold the line on new or higher taxes to create a stable tax structure.
CURB BUSINESS COSTS
Preserve the investment tax credit and single sales factor for businesses;
Attract more federal dollars, including the use of the New Market Tax credits to stimulate private investment in low-income communities for housing and business development.
TAME THE SPIRALING COST OF LIVING
Provide $50 million in incentives for cities and towns based on the number of new occupancy permits issued and offer full funding for the affordable housing trust;
40B Commission to submit findings to Governor in several weeks;
Establish criteria and a streamlined disposition process for the construction of affordable housing on state land.
CONNECT OUR HIGHER EDUCATION SYSTEM TO REGIONAL WORKFORCE NEEDS
Former Reagan economic advisor, Michael Porter, will join the administration as a special advisor to help oversee and coordinate the work of the regional competitiveness councils, whose work will help link the college curricula to employer needs;
Conduct an annual business survey and feed the results to community colleges.
GOVERNMENT REFORM
Eliminate government duplication and administrative overhead by merging the Boston Municipal Court with the statewide District Court system, consolidating the Turnpike Authority with the Highway Department, creating one unified parks agency, and reforming our higher education system;
Institute workforce reforms such as the elimination of bumping rights and the removal of managers from the union.
###
Comments (0)
You don't have permission to comment on this page.