One of the best ways to create jobs is to engage in regulatory reform. Until the GOP takeover of the General Assembly in 2010 the thousands of rules and regulations on the books had never been reviewed to see if they were still necessary. Republicans have begun the long and arduous task of looking at each regulation to see what can be eliminated.
In fact, layers upon layers of rules had continued to be added to the NC Administrative Code over the decades, stifling the creation of jobs. Business startups and expansion have become increasingly cumbersome over the last many years because of the never ending onslaught of new regulations imposed upon business by bureaucrats.
Consider this: North Carolina has approximately 23,940 rules on the books. Citing just four categories that negatively impact job growth and job creation, the state has 4067 Environmental and Natural Resource regulations;1777 rules and regulations governing Commerce; 1050 rules and regulations governing Agriculture and Consumer Services and 741 rules and regulations governing transportation. Many of these regulations are no longer even relevant but because they remained on the books they presented another hurdle and expense for folks in business to try and overcome.
We must continue regulatory reviews on an ongoing basis to see that this never happens to the NC Business Community again. Lets make NC truly business friendly.
Another way to create jobs is to initially reduce and then ultimately work toward eliminating the corporate tax. We must also lessen the overall tax rates for everyone which includes many individuals who run small businesses and pay their taxes using the same tax tables as most North Carolinians. Working capital will be immediately freed up to create jobs and expand.