FIVE months ago in this space we highlighted the capacity of state governments in America to think long-term when dealing with taxes and attracting investments.

We had pointed to those cases in the hope that the Jamaican Government would find in them formulas that they could adopt here, as this country is in dire need of more investments — local and foreign.

The fight put up by Washington state to keep the Boeing 777X assembly plant was one of the examples we cited.

For those who missed it, almost 24 states started bidding for the assembly plant when Boeing threw the offer open after a dispute with the machinists union in Washington state.

Boeing eventually decided not to relocate after Washington state approved nearly US$9 billion in tax breaks for the aircraft manufacturer as their calculation showed that keeping the 777X plant there would result in US$21.3 billion in tax revenue for 15 years, based on a total of approximately 57,000 jobs.

The legislators also offered Boeing new incentives over 16 years to include a 40 per cent reduction in business and occupation taxes, US$3.5 billion in tax credits for the development of the aircraft, a US$562-million property tax credit on land and buildings, a US$242-million sales tax exemption for purchasing computers, and US$8 million allocated in fiscal year 2015 to train another 1,000 workers.

We had also highlighted the decision of Forbes Media, publisher of Forbes magazine, to move 350 jobs from New York to New Jersey because of an offer of US$27.1 million in tax incentives over 10 years.

The New Jersey Economic Development Agency calculated that Forbes’ move will result in a net estimated benefit to the state of US$72 million over 20 years.

We also pointed to New York’s push to attract jobs and business start-ups by offering a corporate tax cut as well as a 10-year tax exemption to businesses that locate in certain areas in that state.

The numbers may sound intimidating to a Government strapped for cash and which wants to collect every cent in order to assist in ensuring that the country does not default on its debt obligations or breach any of the performance criteria established by the International Monetary Fund (IMF).

Keeping the fiscal accounts tight is necessary and, given the performance so far of the finance minister and the country at large, very admirable.

However, that fiscal responsibility must be balanced with a growth policy if the country is to claw its way out of this economic pit.

We can’t have investors — local and foreign — eager to do business here being frustrated by state agencies that can’t grasp the big picture, and policies that are simply redundant.

If we want to realise the Vision 2030 goal of transforming Jamaica into “the place of choice to live, work, raise families, and do business” we need to think big and act on that thinking.