Governor Jack Markell discusses the latest effort to create jobs in Delaware – the Jobs Creation Credit bill. The legislation, co-sponsored by State Senator Robert Marshall (D-Wilmington West), House Speaker Robert Gilligan (D- Sherwood Park) and State Rep. Bryon Short (D-Highland Woods), builds on the expiring “Blue Collar Jobs Tax Credit” by expanding on the number and type of businesses who qualify for the credit and increasing the amount of the credit for each job created.
Full text of Governor Jack Markell’s weekly message:
Economic growth builds on itself.
When a company hires a new employee – it does more than add a person to its workforce.
It creates a new customer for other businesses in the area.
Which gives those companies a greater chance to hire as well.
The success builds on itself.
But when businesses hesitate to put somebody to work, the hold on that one job can impact so many others.
That’s why we’re looking to make it easier for companies to start hiring.
This week, we introduced our “New Jobs Creation Credit” to keep their hiring process moving or, in some cases, get it restarted.
Sponsored by Senator Bob Marshall, House Speaker Bob Gilligan and Representative Bryon Short, the legislation makes clear that companies looking to put people to work will find an active and engaged partner in our state government.
The New Jobs Creation Credit builds on earlier efforts by the expiring “Blue Collar Jobs Tax Credit.” For over 25 years, the Blue Collar Credit has proven itself an important tool to recruiting and expanding businesses in Delaware.
Our New Jobs Creation Credit keeps its commitment to building more blue collar job opportunities, which are a critical part of state’s history and future. But our plan also expands the number of industries and kinds of jobs companies will get credit for filling–
Because blue collar, white collar, or no collar at all – our belief is that getting more people back to work now keeps more people working in the future.
The proposal also increases the size of incentives for companies looking to hire – from 400-to-500 dollars for each new job or every 100-thousand dollars in qualifying investments made.
The New Job Creation Credit specifically encourages companies in high-growth and sustainable energy industries to apply and locate here.
And it makes more investments in credits upfront to encourage more economic growth now. By better targeting these credits, we’re also able to do all of this at no additional cost to taxpayers.
I want to thank the sponsors for making this bill – and the jobs it will bring – a priority. And to all of the co-sponsors who’ve joined this week – thank you. We look forward to using this tool to help companies move from hesitant – to hiring.
Efforts like this to get people back to work combined with making sure Delaware’s public schools graduate the economic leaders of tomorrow makes it more clear to employers each day – that Delaware… is moving forward.
