Bonding Bill should guarantee jobs for Minnesotans

Posted on 16. Feb, 2010 by Release in State Legislature

If there’s one thing we’ve learned about the recent economic downturn, it’s that growing jobs and putting Minnesotans back to work are the best things we can do to spur rapid and long-term economic recovery for our state.

Recently, I authored a proposal that would require all jobs created by this year’s capital investment bill to be filled by Minnesota residents. Our state faces serious challenges, from a long-term budget deficit to a lagging economy that has put too many Minnesotans out of work.

According to a recent state jobs report, Minnesota employers cut 4,100 jobs in December and more than 120,000 jobs in 2009 leading to a steady unemployment rate of 7.4 percent.

University of Minnesota economists have estimated that a new Minnesota job is created for every $100,000 in capital investment that becomes law, meaning that a comprehensive bonding bill could create 10,000 jobs or more throughout the state. With unemployment a major concern in Minnesota, it’s important to note that numerous bonding projects are shovel-ready, with plans in place and workers ready to go as soon as funding is approved. My proposal would make sure that those newly created jobs are going specifically to Minnesota residents.

The capital investment package worth $999 million makes statewide investments in colleges and universities, transportation projects, and other public infrastructure. The bill would put thousands of people back to work during the upcoming construction season, and support long-term economic development in every region of the state. When we invest nearly $1 billion in our state’s infrastructure, we need to make sure that any benefit of that investment stays in the state and any jobs created go to Minnesota residents.

Additionally, capital investment projects also mean increased business for contractors and vendors. Oftentimes in Minnesota we get contractors and vendors from as far away as Texas – why should Texas benefit from money that is meant to be invested in Minnesota? By requiring all jobs in the capital investment package to go to Minnesotans, it will also result in increased business for contractors and vendors within the state that have been struggling to make ends meet during this recession.

The point of an economic jobs stimulus bill is to ensure that we are getting more money into the system – more people are getting jobs, who are spending money and paying income taxes. In this critical time, we need to make sure the money invested stays in Minnesota.

Tags: Bonding Bill, Feature, Jobs