FARGO – Entrepreneur Doug Burgum this morning called for eliminating North Dakota’s personal and corporate income taxes, stating the move would give the state an edge when it comes to attracting businesses and top worker talent.
“This isn’t meant to be provocative. We’ve got the (state government) surplus, but we need to turn it into a competitive advantage,” Burgum told the audience at the 2014 State of Technology Conference held at the Fargo Theatre and hosted by Sen. John Hoeven, R-N.D., and the Fargo Moorhead West Fargo Chamber of Commerce.
In addition to zeroing out tax rates for personal and corporate income taxes, Burgum advocated elimination of North Dakota’s ban on same-sex marriage, calling the restriction “a great way for us to drive young talent out of the state.”
He said North Dakota has many things going for it right now and he stressed the potential is there to take things much further.
“This is the time for us to take action on a number of policy fronts,” Burgum said.
Tech firms in North Dakota and in Fargo in particular, he said, are in a position to reap huge economic benefits from the convergence of a number of factors, including the cheap cost of data storage, the growing prevalence of automatic sensing devices, and the pervasiveness of mobile devices.