In Your Backyard - July 15, 2008

California
Business May Foot the Bill if Democrats' Budget Plan Passes
Democratic lawmakers are proposing that businesses and high earners cover the state's $15.2 billion budget shortfall. Their plan involves increasing corporate taxes and creating higher income tax brackets for the state's biggest earners. The plan would also raise the franchise tax rate for businesses from 8.8% to 9.3% and remove the net operating loss deduction for three years. However, the proposal will likely fail without GOP support, and Republican lawmakers have repeatedly said they are unified in their opposition to any tax increases.
Source: The Sacramento Bee

 

Colorado
State University Offers Employer-Focused Online Courses 
The Colorado State University System is launching Internet courses based on the needs of employers and employees, going head to head with private, job-oriented colleges that tailor their degree programs to the business and professional worlds. The program, called CSU-Global Campus, was created in collaboration with state agencies, including the Departments of Corrections and Transportation, to tailor the courses to their needs.
Source: Rocky Mountain News

 

Delaware
Tourist-Oriented Businesses Report Low Numbers
Popular tourist destinations and businesses that depend on seasonal visitors are feeling the squeeze this summer. Traffic was notably lighter over the July 4 weekend, usually the beginning of state's high tourist season, business owners say. In addition, a lack of travel trailers on the highways signals fewer out-of-town visitors, a key demographic for the tourist industry. At Delaware Seashore State Park, superintendent Doug Long estimated that business was off by 10 to 15% this summer.
Source: The News Journal

 

Indiana
Mortgage Industry to Face More Regulation
More than 630 mortgage broker companies could be out of business starting Aug. 6 because of a failure to pass a competency exam, Secretary of State Todd Rokita announced last week. The state is taking steps to enforce a strict new law passed in 2007 that requires each licensed mortgage office doing business in the state to employ a principal manager with a passing score on the Indiana best practices competency exam. Managers must be in place by July 1, but so far 639 of the state's 950 brokers have not taken the exam, meaning almost 70% of Indiana's brokerage companies face closure.
Source: The Journal Gazette

 

Virginia
Businesses Unite on Immigration Reform
Businesses are banding together to defend their economic interests in light of the intensifying government crackdown on illegal immigration. Diverse businesses, including hotels and poultry processors, have formed Virginia Employers for Sensible Immigration Policy. The Virginia-Maryland region has been particularly hard hit by stepped-up enforcement efforts that have led to raids on a Leesburg, Virginia, convention resort and an Annapolis, Maryland, painting company.
Source: The Washington Post