A new study released by the U.S. Chamber of Commerce shows which policies at the state level—and which states themselves—are the most successful in creating new jobs and economic growth.

Six governors gathered at the U.S. Chamber’s Washington headquarters on May 3 to discuss state policies that spur job creation.

The Enterprising States study prepared by the Praxis Group for the Chamber and its public policy think tank, the National Chamber Foundation, found that states and localities are better suited than the federal government at spurring job growth and those that pursue policies based on free enterprise principles fare better economically than those that don’t.

“By embracing many of the strategies at the core of our free enterprise system—entrepreneurship, open trade, competitive tax rates—states can help jumpstart our economic recovery and create more jobs,” said Chamber President and CEO Tom Donohue. “Many of the new ideas, new companies, and new jobs will come from local initiatives that allow the free market to do what it does best.”

The study looks at five specific policy strategies that states have used and are using now to accelerate growth and create jobs.

• Entrepreneurship and Innovation
• Exports and International Trade
• Infrastructure Investment
• Education and Training
• Taxes and Regulation
   

The top overall growth performers, based on job growth rates, gross state product measures, and personal income growth, are, in order: North Dakota, Virginia, South Dakota, Maryland, Wyoming, New York, Texas, Iowa, Nebraska, and Montana. The study also ranks the top ten states in each of the five categories.

The Enterprising States study was released at a bipartisan summit of governors, state chamber executives, and business leaders at the Chamber headquarters on May 3. Participating governors were Tim Pawlenty (R-MN), Jack Markell (D-DE), Bill Richardson (D-NM), Donald Carcieri (R-RI), Rick Perry (R-TX), and Joe Manchin(D-WV). The event was broadcast live on C-SPAN2 and was heavily attended by members of the national and local media.
 
“By bringing this bipartisan group of governors together, the Chamber is helping to lead the charge in finding a solution to our nation’s challenge of creating jobs and revitalizing the economy,” said Gov. Pawlenty, co-chairman of the event.
 
The summit and study are part of the Chamber’s American Free Enterprise. Dream Big. campaign, which has an underlying goal of creating 20 million new jobs in the next decade.

The Enterprising States study is available at www.freeenterprise.com.