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Gov. Jack Markell, (D-Del.), on the economic environment and incentives drawing domestic and international companies to the state.
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About that's just talked about big gigantic US based companies.
That are hoping to have better footing when it comes to this economy it will some of those companies are now setting up shop in Delaware.
Delaware's unemployment rate may well be below the national average but the governor says that state can do better.
And he's laying down major financial incentives to make it happen joining me now in a Fox Business exclusive.
Democratic governor Jack mark -- governor -- thrilled to have you today we've got a big market today but we've also got a big story out of Delaware and that is.
-- convince companies like Sallie Mae to relocate to pop muscling up its businesses there are a lot of hiring a Capital One.
Tell me what it is that you -- offering to.
Basically shake off the other troubles that many states in this nation happen get companies come to your state.
Well first thanks for having me with you.
The most important thing that we deal is we put ourselves in the shoes of the people who create jobs and we focus in on the handful of issues.
That they care the most about and that includes they they want to be in place is with great schools.
With reasonable taxes with an excellent quality of life.
Really good work force and they want allow Craig responsiveness from the government that -- -- -- speed that means predictability.
And our view is if we focus in on those things every day we're gonna win more than we -- well.
You've offered all kinds of incentives among them.
Hiring incentives cash incentives in certain cases -- beyond that what else can you offer them.
-- the incentives matter I wish they didn't but I'm also not prepared to compete with both arms tied behind my back because other states offer incentives.
I think we're better off when we're really focused on the public good and that means like school so last year we won we came in first place in the national low rates to the top.
Competition and that's a really important signal to send.
To businesses that want to be located in places with great schools.
We're investing in early childhood.
Education which is also very important because what -- more kids we get off to a good start.
The more successful they're going to be but again it's really this issue of responsible the responsiveness and being nimble that -- differentiate and and that has differentiated us.
You inherited a big budget shortfall I believe it was a record where does that -- right now governor.
Well the United States every single year have to have a balanced -- -- and 800 million dollar shortfall of first year.
The smaller one the second year last year it started out bad there are some additional monies it came on the table.
I expect that this is going to be another difficult budget year.
The fact is the single best thing that could happen in most states would be to have a strong national economy but our back and we don't have that.
But that means we really have a choice we can sit back and say okay we're gonna wait for things to get better around the country.
Or we're -- be incredibly opportunistic and aggressive and do whatever we can for our states of course that's the model that we're choosing in Delaware.
You were a Democrat you come from a big business background you worked at Nextel Comcast.
-- -- you've been around an -- you've been very business friendly.
And -- look at a day like today with the markets.
The Dow down 370.
The NASDAQ down a hundred points at any given moment and it's these kinds of things that we can't really control because a lot of this is generated by the problems in Europe.
On our screen we're showing how everything seems to be falling including gold which is down 24 dollars.
US dollar's stronger Europe business guy you know that multinational companies love to have a little bit weaker currency don't they so how do you say.
Look we're going to have a better economy no matter what what would be your -- -- to President Obama right now.
Well look -- I think when you when you think about the impact did it what's going on Italy and in Europe is having on the states right now.
Is having a big and the big impact -- our markets today but there's a bigger issue here -- that really has to do with the overall competitiveness.
And the biggest challenge is that more companies for rational reasons are deciding that.
Because of either tax policy or because of workforce issues they've got great opportunities to higher around the world and that includes of -- for example in Delaware.
AstraZeneca is a major employer here there actually based in England Barclays is a -- big -- -- based in England as well we've got a as steel company that's based in Russia.
The point for our country is to understand that the it -- dynamics of global competition are far different than they have ever been before.
And we've got to continue to focus on the things that are gonna make its competitive in the long term that's about education it's about workforce.
And and -- key issues like that.
Brilliant you know like chips was thinking my goodness it's not just you don't just wanna -- the US company business but the foreign businesses well you are doing it.
You're -- success story that should be held up to other states thank you governor for joining us.
Thanks for having me governor Jack mark hell of Delaware.
