In Your Backyard - June 3, 2008

Alabama
Governor Leads Trade Mission to Latin America
Gov. Bob Riley (R) plans to lead a 45-member delegation of educators and business representatives to Chile, Columbia, Brazil and Argentina on a South American trade mission beginning May 29. Riley and Alabama companies hope to open new markets to further increase Alabama's already ballooning trade with Latin American that has followed free trade measures such as the 2004 U.S.-Chile Free Trade Agreement.
Source: Montgomery Advertiser

 

Alaska
Governor Supports Canadian Gas Pipeline Builder
Gov. Sarah Palin (R) will push lawmakers to award foreign energy company TransCanada Corp. with an exclusive license and subsidy to build the famed 1,715-mile Alaska natural gas pipeline in a special legislative session the first week of June. Palin believes TransCanada has the expertise, muscle, and drive to go through the expensive process of seeking federal permission to build the pipeline, financing the estimated $30 billion pipeline, and attracting customers to use it.
Source: Anchorage Daily News

 

Delaware
State Hopes Road Improvements Will Increase Business
The Delaware Department of Transportation (DelDOT) is paying $1 million to make its newly renovated Riverfront business district more accessible by creating two major traffic channels to ease congestion. The state has already spent approximately $200 million in public money and $800 million in private investments to transform the Riverfront from an industrial wasteland into a regional destination spot. DelDOT hopes the widening of South Madison Street will further attract people to the new shopping and business hub.
Source: The News Journal (New Castle-Wilmington)

 

Michigan
Businesses to Weigh in on Business Tax
Senate Majority Leader Mike Bishop (R) said he will consider complaints from business owners in tweaking Michigan's new commercial tax. The Michigan Business Tax, which replaced the despised Single Business Tax this year, increases the tax burden on profits while decreasing property and payroll taxes. Businesses are reporting tax increases as high as 1,200%, but officials say that businesses are not taking into account certain other cuts and exemptions. Most significantly, small businesses are unaware that they qualify for complete tax exemption or a small business credit that reduces their overall state tax liability.
Source: The Detroit News

 

Vermont
Recession Is Official, but Will Be Short-Lived, Economist Says
For the first time since 2001, Vermont's economist, Jeff Carr, claims that the state is in a recession. Carr sites energy prices as the main cause of the state's poor economy because Vermont relies heavily on tourism, which has decreased due to gas costs. Combined with the housing crisis and the nationwide economic slow down, Carr predicts Vermont's economy will be hit harder than the rest of the country, especially in the labor market. However, Carr says the recession will be relatively short and mild because of the strength of the global economy and the business sector, as well as the federal government's economic stimulus measures. 
Source: Burlington Free Press