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Second Quarter 2010
jobs, jobs, jobs
T
hat's what everybody is talking about. But
what's the best way to create those jobs? The
Milken Institute looked at both the policy
and investment sides of the problem in a new
report, "Jobs for America: Investments and
Policies for Economic Growth and Competi
tiveness." To track what policy changes could
do in the medium to longterm, we esti
mated the impact of reducing corporate tax
rates, increasing the R&D tax credit (and
making it permanent), and modernizing ex
port controls on strategically sensitive prod
ucts. For more immediate job growth, we
looked to additional infrastructure invest
ments (some $426 billion worth of them), in
cluding hottopic initiatives in nuclear energy,
smart grid expansion, highway and transit
systems, and oil and natural gas drilling.
We found that tax incentives plus changes
in regulation could add 2.9 million jobs by
2019, while more immediate relief in the
form of 3.5 million jobs over three years
could be forthcoming from a major push in
infrastructure. The report and an interactive
data summary, including a calendar where
you can try your own hand at infrastructure
investment design, can be found at www.
milkeninstitute.org/jobsforamerica.
sharing the load
W
e never overlook the opportunity to create a
buzz, so we pulled together a highpowered
group of economists, energy policy specialists,
private and public electric utility operators,
investment bankers, real estate developers
and regulators to analyze what needs to be
done to renovate the U.S. electricity grid. Spe
cifically, this latest in a series of Milken Insti
tute Financial Innovations Labs tackled the
question of upgrading the patchwork system
on which the nation's commerce, security and
health depend. The group concluded that suc
cess was within reach ­ but only if policy goals
were aligned with financial incentives. The
lab's analysis and recommendations have
been published in "Innovations for Infra
structure Finance: The Grid, Renewables and
Beyond," available at www.milkeninstitute.org.
conference redux
W
hat? You didn't sign up to attend the Milken
Institute's annual Global Conference (April
2628 in Los Angeles)? You did, but can never
get enough of the dazzling array of panels on
everything from retirement security to the fu
ture of the auto industry? Once the confer
ence is over, check out the more than 100 ses
sions available free in our Global Conference
video library at www.milkeninstitute.org/
gc2010.
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