Cultivating economic growth for Missouri

As governor, I have worked to cultivate economic growth and make Missouri a state of opportunity by enacting pro-jobs, pro-growth initiatives.

Before I took office, the state was losing jobs at an alarming rate, 34,000 in the previous four years. Missouri state government faced a $1.1 billion budget deficit. Education funding had been cut and withheld and we were suffering from a legal system tilted in favor of personal injury lawyers. As a candidate, I pledged to change the way state government operates and to improve the business climate in our state.

I am very pleased to report that our changes are working and our state economy is on solid financial ground. This is in vast contrast to what many other states are experiencing. According to a survey conducted by the National Governors Association 19 states are projecting a shortfall for fiscal 2008 in the amount of $14.6 billion and 22 states are projecting shortfalls for fiscal 2009 in the amount of $32.2 billion.

Due to the positive changes we have made, Missouri is not projecting a shortfall this year or next year, and instead, is projecting growth. With the help of your elected representatives we have turned an inherited $1.1 billion budget deficit into three consecutive surpluses in a row. We have dramatically increased spending on education, and we have implemented meaningful lawsuit reform that has leveled the playing field in Missouri courtrooms.

We also enacted the Missouri Quality Jobs Act that provides Missouri communities with new tools to attract high paying jobs to Missouri. To qualify for the incentives under the Quality Jobs Program potential employers have to provide a competitive wage in the county and have to provide health benefits to their employees. Our state is already witnessing a very real impact from the Quality Jobs Act. Since its creation, Quality Jobs has helped create more than 22,000 new jobs across Missouri.

Most importantly, by changing our state's business climate, we have helped Missouri entrepreneurs, small businesses, and large employers to create 94,700 jobs in our state since I took office in January 2005.

While our state economy is growing and improving, concerns over the national economy and housing markets are creating worries for families. Rising gas prices make commutes even more onerous for Missourians. Rising food prices is cutting into family budgets. That is why it is so important to Missouri families for us to continue on our path of increasing jobs, lower taxes and efficiency in state government.

While we are helping grow Missouri's economy, we are also shrinking the size of state government. A recent survey released from the Pew Center on States and Governing magazine confirmed that the positive changes my administration has made are working.

According to Pew, Missouri tied for fourth in the country in the management of state government and received a higher grade than all eight surrounding states. Missouri received a "B+," the second highest grade issued to states this year by Pew. The magazine article about the survey stated, "Missouri has a track record of extremely conservative fiscal management and currently is in strong structural balance." Missouri's excellent showing is another sign that effective management has put our state back on the right track and we have done it by putting Missouri families, Missouri values and Missouri taxpayers first. Our sound economic and management policies are paying dividends for Missourians.

With the dedication of Missouri's working men and women, together we are letting businesses know that Missouri is open for business. Our changes are working and Missouri's families are benefiting from sustained economic growth at the state level.