DELAWARE ECONOMIC RANKING TAKES A DIVE AS SMALL BUSINESS OPTIMISM HITS TWO-YEAR LOW
12, 2016): In the past 24 hours, Delaware’s economic news has left the small
business community wondering when the tide will turn in the First State. Today,
the National Federation of Independent Business (NFIB) is calling on lawmakers
making policy decisions to wake up and smell the reality of doing business in a
state that is slowly slipping to the bottom of the economic barrel.
were informed that Delaware’s economic outlook for 2016 fell to 44th place in
the country, compared to 38th last year. That tells our small
employers that there is essentially nothing to look forward to this year if
policies dictating economic conditions remain status quo and lawmakers fail to
step up to the plate,” said NFIB Delaware state director, Mike O’Halloran.
“Instead of accepting defeat and riding through the remainder of 2016 as things
only get worse, it’s not too late for lawmakers to focus on cutting spending
and reducing regulation and taxes. If they are brave enough to do so, our
employment sector will begin to move in a positive direction, instead of
continuing in a downward spiral.”
significant change in this year’s edition of Rich States, Poor States:
ALEC-Laffer State Economic Competitiveness Index. The ranking is a forecast
based on a state’s current standing in 15 state policy variables that lawmakers
are more than capable of directly influencing by casting pro-business votes
during the legislative process.
As if that
wasn’t bad enough, NFIB’s Index of Small Business Optimism revealed this
morning that thanks to business owners having no faith in the improvement of
economic conditions anytime soon, the index dropped to a two-year low in March.
“No one likes
being pessimistic about the future, but our members are left without a choice.
Barely out of the first quarter of the year, we are learning that optimism
amongst small business owners is at a two-year low and Delaware’s economic
outlook plummeted, yet lawmakers are doing nothing to change the economic
conditions that we are all facing,” continued O’Halloran. “Where are the
proposals to reduce taxes so that the small business community can spend their
revenue on hiring more people instead of sending it to Dover?”