WILMINGTON, Del. – Chip Flowers, Democratic candidate for State Treasurer, today released his agenda for the office, “The Flowers Framework for Restoring Prosperity.” The Flowers Framework seeks to strengthen Delaware’s financial future by offering a series of proposals aimed at creating jobs, promoting economic growth and saving taxpayer funds by revamping the state’s Treasurer’s Office.
While the Flowers Framework contains 18 specific ideas to assist Delaware in competing in today’s 21st century global economy, it emphasizes four core themes: fiscal responsibility, economic growth and stimulating businesses, planning and forecasting and revamping our financial agencies. The Flowers campaign released the framework on the anniversary of the inauguration of President Thomas Jefferson (March 4, 1801), since the framework is based upon many key concepts and principles offered by our nation’s founding fathers, specifically Jefferson and Alexander Hamilton.
“This framework is designed to create a 21st century treasurer’s office that will reshape the economic future of Delaware by offering new ideas that will create jobs, attract businesses and manage our money wisely,” Flowers said. “Under the framework, our state Treasurer’s Office will become an integral part of the global financial and business community and advocate for policies that protect our industries and improve the lives of Delawareans. Until we move beyond a state treasurer’s office that is limited to issuing debt and processing state paychecks, our state will be at a significant disadvantage in job creation and have no prominent role in shaping economic policy.
“In light of the current recession and the recently announced layoffs at AstraZeneca, this is not a time to govern our state finances by political ideology or opinion polls. Rather, it is time to put forth ideas that are fiscally prudent and grounded in the principles that founded this great nation. In doing so, I hope this framework will provide Delawareans with an opportunity to achieve new heights and fulfill their dreams of a better future,” Flowers said.
Key proposals under the Flowers Framework include the following:
- Implementing a State Financial Warning System to serve as an indicator to state agencies to initiate cost-cutting measures at the start of an economic downturn to generate immediate cost savings;
- Establishing the Office of Finance and Investments and the Office of Economic Policy to develop short- and long-range economic and investment policies and products that will stimulate economic growth and create jobs;
- Creating the “Hometown” and “Excellence in Delaware” Tax Credits to combat the increasing number of Delaware graduates seeking employment outside the state and to attract the best and brightest talent to the First State;
- Strengthening the state’s relationship with the U.S. Treasury Department and the Federal Reserve to influence economic policymakers on major decisions impacting Delaware;
- Creating the Delaware Investment Fund to invest and loan public and private funds in an objective and fair manner to businesses in alignment with the state’s economic policies; and
- Revamping the State Treasurer’s Office to ensure fiscal responsibility while fostering and promoting economic growth and job creation.
Flowers, who filed his candidate paperwork with the state Department of Elections earlier this week, is a resident of Middletown. Flowers majored in economics at the University of Pennsylvania and received his law degree and a Masters in Business Administration from Georgetown University. After earning his Masters of Public Administration from the John F. Kennedy School of Government at Harvard University, he founded the law firm, The Flowers Counsel Group, LLC, which specializes in advising Delaware businesses in corporate law. Prior to attending Harvard, Flowers worked as a mergers and acquisitions attorney at the Wilmington office of Skadden Arps and in the White House Office of Political Affairs under President Bill Clinton.
NOTE: The Flowers Framework for Restoring Prosperity is available to the public at www.chipflowers.com/framework.
