The phrase " creating jobs" best completes the diagram.
The diagram shows a causal relationship between the two phrases. Considering how to tax and regulate businesses is a way to grow the state economy. This is because businesses contribute to the state economy by paying taxes and creating jobs. When businesses thrive, the state economy also thrives.
The other phrases in the diagram are all effects of growing the state economy. Funding infrastructure improvements is one way to invest in the state economy and promote further growth. Increased revenue from taxes on businesses can be used to fund these improvements.