State has a model for boosting technology, but not the money

  • Article by: WENDY LEE , Star Tribune
  • Updated: October 5, 2011 - 7:50 AM

Ohio has poured $2.3 billion into a technology initiative and claims to have created thousands of jobs.

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ntaggartOct. 7, 1112:51 PM

Three things the state can do to encourage business development would be (1) Restructure, curtail and eliminate a lot to the regulatory handicaps, there is an abundance of miss-regulation, (2) Do the same with the tax code, one of the big ones is MNs estate tax issue, it's seems designed to kill small to medium sized businesses, (3) stop demomnizing businessmen, bankers and entrepreneurs. These are the people needed most. Treat them with a lot more respect.

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ebenezerOct. 30, 1112:24 AM

If you put money via state subsidies or any other source into a company, that company will generate jobs. When the money is gone, so go the jobs...unless the company represented good ideas matched to a marketplace capable of supporting the ideas. Good ideas properly matched and managed to the right market will survive...regardless of regulation, tax code or greedy bankers, self-focused businesspeople or cash-strapped entrepreneurs. With a long term business failure rate of better than 90%, let the private guys take the risks. Taxpayer dollars need focus elsewhere. When will the government ever learn?

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grizzly2011Feb. 29, 12 7:02 AM

Obamacare is largely to blame for the lack of investment in Minnesota. Minnesota is saturated with medical technology companies. The Obamacare law, which was supported by Minnesota Democrats Betty McCollum and Amy Klobuchar, puts a REVENUE TAX on medical device companies. Everyone with a brain knows that early stage companies tend to lose money. Under the Democrat Obamacare scheme, med-tech companies will owe tax on revenue, not on profits. So even though these companies are losing money, they will have to find some source to get money to pay the 2.3% tax on revenue. What investor is going to be willing to invest millions in a long-shot and then cough up the possibly millions of dollars to pay the Democrat revenue tax while the company loses money in its early years? Not many. This is why investment in medical technology has nearly dried up. This lack of investment means lost jobs--high paying jobs. You can thank the Democrats for this.

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