REEVES SAYS CONSERVATIVE FISCAL POLICIES WORKING

Job Creation Efforts Enhanced by Strong Focus on Fiscal Restraint

(Jackson, Mississippi) – At today’s annual Legislative Fiscal Briefing, State Treasurer Tate Reeves discussed the state’s fiscal outlook with legislators. Reeves remarks were focused on the state’s proactive debt management strategies, and his belief that they are working. Mississippi’s net tax-supported debt, as a percentage of personal income, has improved significantly relative to other states and is currently at its best ranking since 1996.

“We continue to position Mississippi to be highly competitive for job creation and growth,” said Reeves. “Investors are beginning to recognize that Mississippi has a business-friendly climate and conservative fiscal policies, and it’s important that we continue this momentum if we want to be competitive for future job growth.”

Treasurer Reeves also gave an update on bond projects, including major projects passed by the legislature – Nissan, Toyota, Schulz, and Twin Creeks.

“It’s very important that we are prudent and focus any new debt issuance to support job creation projects,” said Reeves. “Every dollar we spend on debt service is a dollar we can’t spend on the vital services that state government provides. Those in the private sector who create jobs are watching.”

Reeves explained that by avoiding any new debt and not raising taxes, the burden will not fall on the backs of taxpayers.

“Those in the private sector who create jobs know that raising taxes adds to the cost of doing business. A continued focus on fiscal restraint – from new debt issuance to the budget – will further enhance our job creation efforts,” Reeves added.

State Treasurer Tate Reeves Press Release
1/13/11