In a tech-driven global economy, America’s prosperity depends on its ability to innovate with speed and at scale. The business environment—for example, the level of taxes and regulation—can help or hinder private sector efforts to develop and commercialize new technology, as well as the Nation’s ability to attract global business investment. Winning the two-front global competition for markets and capital is vital for U.S. economic growth and high-value job creation.
Recently, the Council on Competitiveness’s “National Commission” issued a call to action with a comprehensive portfolio of strategic recommendations, organized within “7 strategic pillars” that support the country’s innovation and competitiveness potential. The second pillar’s grouping of recommendations calls for “Creating the Most Competitive Business Climate for Innovation” with financial and investment incentives that drive technology development, deployment at scale, new business formation, and the establishment of state-of-the-art production facilities.
