Delaware, Rhode Island and Tennessee approaching regulatory processes

National Governors Association to Work With 5 States on Improving Business Regulations. Alaska, Colorado, Delaware, Rhode Island and Tennessee Approaching Business Regulatory Processes as an Economic Development Driver

delaware rhode island and tennessee

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WASHINGTON — The National Governors Association (NGA) will work with five states – Colorado, Alaska, Delaware, Rhode Island and Tennessee – to help them improve their business regulatory processes to promote economic development, NGA announced. This work will be completed in partnership with The Pew Charitable Trusts.

The five states will be part of a two-year policy academy tailored to the needs of each state, as defined by its governor, to look for ways state government can remove barriers for businesses to launch, grow and succeed. Upon the conclusion of the two-year project, participating states will have greater capacity to identify and pursue regulatory changes -- including executive orders, pilot programs, funding strategies and legislative changes -- that enable businesses to thrive.

Recent Pew research makes a clear case that states and territories can strengthen their economies by improving regulatory processes. It identifies examples from around the country of state governments reducing compliance costs and boosting economic opportunity for businesses by administering regulations more efficiently and providing greater predictability and clarity in their processes, all while continuing to safeguard public health and safety.

Pew research on Delaware, Rhode Island and Tennessee and other states

In partnership with Pew, the NGA Center for Best Practices (NGA Solutions) will work with the five states to identify baseline data and action steps for pilot initiatives so that successes can ultimately be scaled up. The particular focus areas for the five states’ involvement in the policy academy are:

  • Alaska: Streamlining licensing and permitting functions across five state departments by eliminating administrative barriers to support the governor’s message that Alaska is open for business.
  • Colorado: Identifying regulatory constraints and opportunities for clean energy practices in the related cannabis and outdoor recreation industries.
  • Delaware: Enhancing access to information and resources by: entrepreneurs starting and growing businesses, small businesses seeking to grow beyond initial start-up phase, and state agencies promoting, supporting and regulating entrepreneurs and small businesses across all industries.
  • Rhode Island: Developing a modernized and easily navigable system of building and land-use regulations to enhance economic development.
  • Tennessee: Improving efficiencies in the administration of regulations such as business registration and licensing procedures.

“Governors around the country are committed to advancing sensible, predictable business regulations that balance public health and safety with the flexibility to allow entrepreneurs to pursue their dreams and create jobs that are essential to the economy,” said Martin Simon, NGA’s Economic Opportunity director. “Through our partnership with Pew, we’ll help give governors the perspectives and tools they need to reform their own states’ regulations in ways that fulfill the priorities and the needs of their states.”

“We are pleased to see these five states undertake efforts to improve regulations and encourage economic development,” added Chaaron Pearson, senior manager at The Pew Charitable Trusts. “By partnering with businesses and changing processes to make it easier for companies to grow, states can support economic growth at little or no cost. That’s good for state budgets—and good for the economy.”

NGA goals

“I thank NGA for selecting Alaska to participate in this meaningful policy academy. My administration is actively identifying regulations that are barriers to doing business in Alaska. To date, we have identified over 100 regulations to be revised or rolled back,” said Governor Michael J. Dunleavy. “One of my priorities as governor is to grow the economy and attract new jobs and industries to our great state. I will continue to push to make Alaska open for business with a vision for new investment, a diversified economy, and a regulatory environment that ensures safe and responsible development to Alaska’s fullest potential.”

“One of our top priorities is ensuring we have an economy that works for all,” said Colorado Governor Jared Polis. “Colorado leads the nation in cannabis innovation, outdoor recreation, and in building a clean energy economy. While these burgeoning industries have benefited from our unmatched natural beauty and our communities’ innovative and forward-looking mentality, we understand the link between Colorado’s bipartisan policies and related regulations and our long-term success. This collaboration will help us get to that next level.”

“Improving Rhode Island’s business climate is critical to our state’s economic growth, and I’m grateful for the opportunity to partner with the National Governors Association and the Pew Charitable Trusts,” said Governor Gina M. Raimondo. “Since I’ve been governor, Rhode Island has eliminated more than 8,000 pages of red tape by streamlining onerous processes and eliminating outdated and redundant regulations. I look forward to continuing our work and examining our building and land use regulations as a mechanism to further enhance our economic development.”

“Our states thrive when business thrives, and decreasing regulatory burdens is one way to ensure continued success,” said Tennessee Governor Bill Lee. “I’m honored to work with my fellow governors to help achieve this goal.”



About the Author

Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Prior to ValueWalk, Jacob was VP of Business Development at SumZero. Prior to SumZero, Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver