Nevada's Tax Climate: How Does Your State Compare?

In Nevada there is:

- No Corporate Income Tax
- No Personal Income Tax
- No Franchise Tax on Income
- No Inheritance or Gift Tax
- No Admissions Tax
- No Unitary Tax
- No Estate Tax*
- Competitive Sales and Property Tax Rates
- Minimal Employer Payroll Tax - 0.7% of gross wages with deductions for employer paid health insurance

More here.

Oregon Industrial Site Certification

The program offers a process for substantiating the quality and ability of particular locations to be quickly developed by manufacturers and other types of businesses seeking to invest and create jobs in Oregon.

Industrial Site Certification documents and assembles information needed by a business considering acquisition and use of a site. A certified site meets specific, market-driven criteria based on the standards of real estate professionals and of the industries that would develop and operate at these locations. Each site receives a consistent level of analysis for development issues. Below are links that will provide more information on certification in Oregon and the necessary forms to begin the certification process.

Learn more here.

Texas Minority Business Trends

The value of sales and receipts of minority-owned firms in Texas reached $1.81 trillion in 2002, up from $1.41 trillion in 1997. (2002 is the latest year these data are available from the Economic Census, which is produced every five years. 2002 Economic Census data are being released from 2004 through 2006.) There were 1,734,648 minority-owned firms in 2002, up from 1,525,972 in 1997. These firms employed 8,059,889 in 2002, up from 7,074,209 in 1997.

Major breakouts follow, and there are more Texas minority-owned business data available. In 2002, there were 319,339 Hispanic-owned firms in Texas, up 33 percent from 240,396 firms in 1997.

Sales and receipts rose 7 percent from $39.48 billion in 1997 to $42.19 in 2002. Texas ranked second nationally for the number of firms and sales and receipts of Hispanic-owned firms. One in five U.S. Hispanic-owned firms calls Texas home. Three of the top MSAs with the largest number of Hispanic-owned firms – Houston-Baytown-Huntsville (#3), Dallas-Fort Worth (#5), and Brownsville-Harlingen-Raymondville (#9) – and three of the top counties with the largest number of Hispanic-owned firms – Harris, Hidalgo, and Bexar – are in Texas.

In 2002, there were 88,769 Black-owned firms in Texas, up 47 percent from 60,427 firms in 1997. Sales and receipts declined 2 percent from $6.85 billion in 1997 to $6.69 billion in 2002. Texas ranked third nationally for sales and receipts and fifth nationally for the number of firms of Black-owned firms.

In 2002, there were 469,049 women-owned firms in Texas, up 23 percent from 381,453 firms in 1997. Sales and receipts rose 3 percent from $65.1 billion in 1997 to $66.7 billion in 2002. Texas ranked third nationally for the number of firms and sales and receipts of women-owned firms.

In 2002, there were 78,018 Asian-owned firms in Texas, up 32 percent from 59,318 firms in 1997. Sales and receipts rose 24 percent from $18.22 billion in 1997 to $22.62 billion in 2002. Texas ranked third nationally for the number of firms and sales and receipts of Asian-owned firms.

In 2002, there were 16,863 Native American-owned firms in Texas, up 8 percent from 15,668 firms in 1997. Sales and receipts rose very slightly from $3.32 billion in 1997 to $3.321 billion in 2002. Texas ranked third nationally for the number of firms and second nationally for sales and receipts of Native American-owned firms.

In 2002, there were 1,543 Pacific Islander-owned firms in Texas, up 70 percent from 908 firms in 1997. Sales and receipts greatly declined from $624 million in 1997 to $277 million in 2002. Texas ranked fifth nationally for the number of firms and third nationally for sales and receipts of Pacific Islander-owned firms.

Read more here.

Healthcare Skill Shortages Expected in Oklahoma

Like many states, Oklahoma foresees skill shortages in its fast growing healthcare services sector.

If current trends continue, by 2012 Oklahoma is expected to have a shortage of more than 3,000 nurses, 600 lab technicians, 400 physical therapists, 300 surgical technologists and nearly 200 occupational therapists, according to an industry report released today by the Governor’s Council for Workforce and Economic Development (GCWED). The Health Care Industry Study, the first of a series of selected industries, assesses supply and demand and provides a gap analysis of the current and future workforce needs of Oklahoma’s health care industry.

Arizona Employment Growth Forecast

Arizona’s Department of Economic Security (DES), Research Administration (RA) is projecting Arizona’s economy will add more than 256,000 nonfarm jobs through the 2006-2007 period.

For most industries, the economic momentum from 2005 is expected to increase in 2006, while a modest slowing is expected in 2007.

Nonfarm jobs are forecast to grow at an annual rate of 5.5 percent in 2006 and 4.4 percent in 2007. Much of this continuing growth stems from Arizona’s favorable attraction as a great place in which to live and the economic vitality that lures investors and businesses.

Job growth is projected for all 11 major industry groups, with the most rapid expansion occurring in construction; professional and business services; natural resources and mining; leisure and hospitality; and educational and health services.

Coping with an Aging Workforce: Views from Arizona

How do Arizona business leaders plan to cope with the approaching wave of retirements, which could lead to a loss of institutional knowledge and a worsening shortage of skilled workers. Roughly 15% of Arizona’s workers are age 55 and older, while another 23% are age 45 to 54.

When asked “What percentage of your workforce is age 55 and over?”20.2% of our BLCI panel members indicated 30% or more. Another 12.3% have between 20% and 29% of their workers in that age group.

When asked what the impact of the retiring worker will have, roughly one out of five see this as a significant future problem. Another 4% already see their retiring workforce as a challenge.

Approximately 45% think it will be a minor problem, and over 30% say it will have no impact on their company. Fortunately, a significant 30% of our business leaders either have a planor are working on one. That leaves 40% who expect retirement to bea future problem, but as yet have not developed a strategy to address this issue.

What actions can a company take to retain the services of older workers? Of those companies who have or are developing a plan, most are offering older workers flexible work hours, part-time work, or job sharing. Also popular are phased retirement programs that let older workers ease into retirement mode. Over half surveyed have established mentoring programs, so younger workers can learn from those who will soon depart. Nearly a third plan to hire retirees as consultants or temporary workers. Other initiatives include trying to keep older workers working through continuous training programs (to hold their interest), or other incentives to delay retirement.

Read more here.

ED Futures Newsletter

Dear ED Futures Subscriber:

Here is the index of articles posted to the ED Futures website (www.don-iannone.com/edfutures) during the past week. Hopefully there is some useful information in the articles for you.

So, should we create a National Economic Development Day? I asked the question last week and 31 of you responded. Drum roll, please. The answer is "yes." It would be a useful action to take. Who should do it? The answer is "the International Economic Development Council."

Weekly Article Index

5/08/2006
Oklahoma: Major Industry Trends
View

5/08/2006
New Mexico: Major Industry Trends
View

5/07/2006
Industry Profile: Investment Banking
View

5/06/2006
Industry Profile: Money Center Banks
View

5/06/2006
Why We Need to Pay Attention to Kids
View

5/05/2006
BEA White Paper on Globalization and Offshoring
View

5/05/2006
State of Ohio ED Website Upgrades
View

5/04/2006
First Suburb Redevelopment Resources
View

5/04/2006
First Suburbs Consortium
View

5/04/2006
Largest Family Businesses
View

5/03/2006
Blogs: Trusted Information Source?
View

5/03/2006
Some Small Business Stats
View

5/03/2006
Good Training Opportunity
View

Regards,

Don Iannone
Publisher, ED Futures
Email: dtia@don-iannone.com
Tel: 440.449.0753

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