By: Jan Mazotti Issue: Innovation, Growth, Job Creation Section: Letter From The Editor
We are in one of the worst recessions in American history. More than one in 10 Americans is without a job, and the federal budget is driving our country’s debt to unparalleled levels. Because of this, and because of an uncertain legislative atmosphere, many businesses —small and large — are postponing capital investments in their businesses and are holding off on hiring additional workers.
This issue of ICOSA is focused on collaborations that are innovative and/or growth-based and that have the potential to create jobs. Our cover story on competitive taxation is a compelling argument to restructure corporate tax codes to make the system more competitive globally, thus increasing the pace of economic growth here in the U.S. to support conditions for robust job creation and investment in the private sector.
The article on foreign direct investment in the U.S. offers a counter to a historic argument among liberals and conservatives. The article details how foreign direct investment is a key source of capital, job creation, and innovation, while sustaining U.S. exports.
PepsiCo’s Indra Nooyi is another fascinating story of innovation and growth. The company, as most people know, does not just operate in the United States, but rather it has a massive international reach with presence in more than 200 countries. In its own way, it is a “citizen” of many cultures and lands, therefore it must be a “force of good in society,” said Nooyi when discussing innovation with the Business Roundtable. Nooyi asserts, “Industry creates jobs, keeps the wheels of the economy turning. Government should celebrate us, not regulate us.”
Haroum Cowans is another entrepreneurial collaborator who is reviving iconic neighborhoods in his city, which he believes further serves as a catalyst for larger redevelopment. At the same time, Cowans supports entrepreneurial education for inner-city youth who are looking at their future in a dismal economy. He serves as an interesting case study for how “guerilla entrepreneurship” can change the way communities deal with poverty, low graduation rates, violence, and economic viability.
These are just a few of the interesting stories in this issue — stories of what is working locally, regionally, and nationally. They are stories of how creative, collaborative doers are working hard to sustain innovation and growth to create jobs wherever they are.
The United States is at a critical juncture, and the big question is what are we going to do about it? We need aligned, growth-oriented policies implemented by collaborative businesses and leaders that encourage investment and innovation for growth, and that spur on job creation. It might be the only way to restore the economy in this country. Think about it.
All the best,
- Jan Mazotti