Editor’s note: Below the post “Logue launches draft Texas Gov. for President campaign,” there’s a good discussion going on about how to improve California’s economy. Here are some suggestions from Truckee resident Steve Frisch. What are your thoughts?
Things we could do to improve California’s economy:
1) Establish an office of Economic Development to coordinate policy to encourage new business growth, within either the Governor’s office or the California Department of Business, Transportation and Housing.
2) Encourage regional economic development planning that is based on the natural subregions of the state that have economies based on geographic, demographic and economic similarities, such as Silicon Valley, Los Angeles, the Inland Empire, the Central Valley, the Sierra Nevada, etc.
3) Adopt policies that create a more stable governance structure with predictable revenue and costs, such as multiple-year budgeting, performance based budgeting and an increased level of local control.
4) Adopt a sane regulatory reform process that reviews, adjusts and/or eliminates regulatory policies that are not working, while respecting the core needs that the policy was adopted to address.
5) Increase investment in California’s critical infrastructure such as roads, bridges, water systems, energy networks, mass transit, etc.
6) Allow California corporations to calculate ‘wealth’ using a triple bottom line accounting system, measuring improvements in social and natural capital, along with financial capital, so shareholders can hold corporations accountable but corporations are not held liable for not maximizing financial capital.
7) Return control of non-essential state functions that can be more efficiently served at the local level to local government.
8 ) Reform the California Environmental Control Act to allow for streamlined permitting of projects that meet multiple local and state objectives.
9) Improve California’s vocational and secondary education system to better prepare young people for entry-level jobs, particularly with dramatic improvements in math, technical, engineering and since education.
10) Invest heavily in renewable, distributed, and locally generated energy.
11) Create local pools of capital for local business investment through community supported banks.