Hoeven, ND Entrepreneurs Push for Aggressive, Pro-Growth Economic Strategy
FARGO – Sen. John Hoeven today joined North Dakota business leaders to stress the need for aggressive economic policies that support business growth, innovation and job creation. Joining Hoeven were Steve Scheel, CEO of Scheels All Sports; David Batcheller, chief operating officer for Appareo Systems; James Burgum, Managing Director of Arthur Ventures; and Alex Warner, chief executive officer of Pedigree Technologies. Hoeven participated in the Great Plains Young Professionals Summit in Fargo today.
“We can create jobs and lift our nation out of the financial quandary we’re in. But, we must have the will to act and to focus tirelessly on the kinds of things that create jobs and opportunities for our people,” Hoeven said. “The young professionals at this summit are the minds and aspirations behind the Scheels, Appareos and Pedigree Technologies of the future. The policies Washington implements today will determine whether or not this generation of entrepreneurs has the opportunity to successfully pursue their business dreams.”
Hoeven highlighted three key areas where Washington needs to focus:
- Creating a legal, tax, and regulatory climate that promotes business growth and investment, and gets people back to work.
- Reining in spending and controlling the national debt.
- Developing a comprehensive, pro-growth energy policy to fuel our economy, reduce dependence on foreign energy, and create good jobs for American workers.
BUILDING A STRONG BUSINESS CLIMATE
Hoeven said the first step to creating jobs and boosting the national economy is to build a strong business climate for America, with the kind of legal, tax, and regulatory certainty investors need to create jobs.
“Our country has transitioned to a knowledge-based economy, where our innovations will be the country’s primary growth driver,” Batcheller said. His business, Appareo Systems, is a growing, Fargo-based company that specializes in the custom design and manufacture of electronics and software solutions for the aerospace and off-road rugged equipment marketplaces. “The government plays a critical role in catalyzing innovation and bolstering our sluggish economy.”
Last year, Appareo was recognized as the fastest growing privately-held engineering company in the country, experiencing 1800 percent growth. It appeared on the INC 500 list.
Hoeven is advocating legislation that will eliminate or modify unwarranted or misguided regulations that are impeding business investment and stifling innovation.
- Small Business Paperwork Mandate Elimination Act – Reduces the regulatory burdens on business, including eliminating the 1099 reporting requirement in last year’s health care bill.
- Regulatory Responsibility for Our Economy Act – Gives the force of law to a presidential executive order to review and eliminate regulations that are outmoded or excessively burdensome to restore regulatory certainty to the markets.
- UAS Airspace Amendment to the Federal Aviation Administration bill – Authorizes the FAA to work with the military to develop national flight standards and concurrent airspace in the National Airspace System for UAS.
- Senate Resolution on Free Trade – Expresses the intent of the Senate to immediately implement the South Korean, Colombian and Panamanian free trade agreements.
- FEMA Common Sense and Cost Effectiveness Act – Authorizes FEMA to make temporary levees permanent, saving money and improving flood mitigation.
REDUCING SPENDING AND DEBT
Revenues in 2011 are projected to be $2.2 trillion, while current spending is $3.7 trillion. In order to meet this $1.5 trillion shortfall and other federal debts, Congress borrows 40 cents on every dollar we spend. At the same time, the national debt is growing $4 billion a day.
“Every dollar used to service the national debt is a dollar that won’t be used to build America’s infrastructure, to keep Social Security solvent, or to reduce taxes on American businesses so that they can create jobs and raise the standard of living for American workers.”
- Balanced Budget Amendment – Caps spending and balances the budget, but allows for appropriate exception in times of war.
- Reduce Unnecessary Spending Act – Provides the President with a line item veto.
- Biennial Budgeting and Appropriations Act – Changes Congress from an annual appropriations process to a two-year cycle.
BUILDING THE RIGHT KIND OF U.S. ENERGY POLICY, STEP BY STEP
Finally, Hoeven said building a comprehensive energy policy for the nation will help all Americans by reducing energy costs and creating millions of new jobs. He said no single, sweeping legislation will likely be passed in Congress. However, North Dakota’s experience with the Empower North Dakota strategy, which he promoted as governor, illustrates the positive effects deliberate and cumulative pro-growth policies can have on the industry.
“In North Dakota, we built Empower North Dakota over a decade – piece by piece – and saw firsthand the power of energy development to boost the economy. Our state alone realized $12 billion in new energy-related investments since 2005,” he said. “For years, Congress has failed to approve a comprehensive energy policy. With the right energy policy in place, imagine what our nation could accomplish.”
Pedigree Technologies, founded in 2004 and headquartered in Fargo, provides web-based solutions that allow clients to locate, track and monitor stationary and mobile assets worldwide. They serve clients in a variety of industries including energy, field services, food services, convenience stores, and petrochemical industries as well as the U.S. Department of Defense.
“North Dakota is at the cusp of great economic opportunity,” Warner said. “When regulations become over-zealous or outdated they become a problem not a solution. You don’t need to worry about how clean, safe or fair a job or work environment is, if it doesn’t exist. We need to have faith in the American tradition of innovation.”
- Defending America’s Affordable Energy and Jobs Act – Empowers Congress, rather than federal agencies, to regulate greenhouse gases.
- EPA Fair Play Act – Ensures that the EPA can’t rescind a validly issued, previously approved permit.
- Gas Accessibility and Stabilization Act – Simplifies the nation’s fuel standards and make more fuel available to American consumers.
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