Jobs are created by local businesses, not by Government mandate. Having said that, the government does play a role in shaping policy and laws that spur economic growth creating an engine for job creation.
Some very interesting studies have been done by the Kauffman Foundation and the Institute for Competitiveness & Prosperity to figure out where new jobs actually do come from. The surprising truth is that over the last twenty five years, almost all of the private sector jobs have been created by businesses less than five years old.
New businesses account for nearly all net new job creation and almost 20 percent of gross job creation, whereas small businesses do not have a significant impact on job growth when age is accounted for.
Policymakers often think of small business as the employment engine of the economy. But when it comes to job-creating power, it is not the size of the business that matters as much as it is the age. New and young companies are the primary source of job creation in the American economy. Not only that, but these firms also contribute to economic dynamism by injecting competition into markets and spurring innovation.
I will work at proposing and implementing new ideas to spur the creation of jobs by limiting handouts to legacy businesses and diverting that money to entrepreneurial firms that drive innovation and prosperity.