State Chamber President on Economic Condition

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Business is booming in North Dakota – and there’s room to improve.

That’s what the president of the Greater North Dakota Chamber had to say at the annual meeting of the Minot Area Chamber of Commerce this afternoon.

Andy Peterson gave the keynote speech to business leaders from around Minot.

He says that taxes for individuals have been lowered by 50 percent in the last six years.

For local small business owners, that’s a huge help.

(Andy Peterson, President – Greater North Dakota Chamber) “A lot of small businesses file their taxes through their personal income tax returns. As a result, they have more money to invest back in their business, and to create more jobs for families. So that’s a very good thing.”

Peterson says that as growth is made easier for job creators, the state’s economy becomes even more resilient.

(Peterson) “What will happen is that more business will happen, and of course the economy gets diversified. And as it gets diversified, we can then hopefully ride out the highs and lows of both agriculture and oil, and we can expand.”

North Dakota’s business climate ranks 9th in the nation, according to the U.S. Chamber of Commerce.

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