Statement from Gov. Vilsack About The Supreme Court's Nullification of the Iowa Values Fund



DES MOINES – ” We respect and will fully comply with the Court's ruling.



” I am
proud that the Iowa Values Fund has been an effective engine of
economic growth in Iowa. I am also pleased that our state will not face
further reductions to schools and essential state services because of
today's ruling.



“I
proposed creation of the Iowa Values Fund because I knew it would make
Iowa an even better place to live, work and raise a family. I knew the
job growth spurred by its passage would create a further sense of
optimism and hope in Iowa.



“As we
mark the one-year anniversary of the passage of the Iowa Values Fund,
the good work of this legislation continues. More than 11,000 jobs have
been created or retained and more than $1.4 billion has been invested
in our state. I remain convinced that Iowa is embarking on a journey of
economic opportunity created from the passage of this legislation. We
have just completed the greatest year of economic development in Iowa
history.



“I look
forward to working in a bipartisan fashion to finalize the structure
and operation of the Iowa Values Fund. With more than 142 job growth
projects underway, the Iowa Department of Economic Development has
agreements with over 30 of these projects that involved the Iowa Values
Fund. We will honor our obligation to these companies. However, in
recognition of the Court's ruling, we will not initiate further
contractual obligations involving the Fund until a process is in place.



“Now
that the chapter of this litigation has been closed, its time to focus
on our future. Challenges remain. We must find new funding of the Iowa
Values Fund, we must improve our water quality, strengthen our
commitment to the classroom and care for our seniors.



“Looking to the future with hope and opportunity, our efforts can lead to an even better Iowa.”



Governor Tom Vilsack, June 16, 2004