Mark Warner Talks "Jobs, Jobs, Jobs" In Southside

Wednesday, January 13, 2010

Sen. Warner was in Southside to promote his bill, the "America Recruits Act of 2010," which Warner says "will encourage employers to create information technology and manufacturing jobs here in the U.S. rather than locating these jobs overseas."
...One study from the Information Technology and Innovation Foundation found that the cost differential between a typical factory job in the U.S. and one in China was a mere $7,000. In low-cost areas such as America’s rural communities and smaller cities, the amount could be as low as $5,000 per job.

My legislation offsets this job location differential by providing firms with up to $10,000 in the form of a below-market-rate forgivable loan for each high-paying manufacturing and IT job they locate here in the United States. While this amount of money, by itself, is obviously not large enough to incent a company to build a brand-new facility, it is substantial enough to supplement a state’s overall economic development efforts that increasingly are necessary to help develop a productive workforce.
I haven't studied this bill, but at first glance it sounds like a decent idea, particularly if it's coupled with investments in education and infrastructure (communications, transportation, etc.) needed to make the United States truly competitive in the global economy. Good work by Mark Warner on this one.