FOR IMMEDIATE RELEASE

May 1, 2007

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Contact: Don Canton or Don Larson

�(701) 328-2200

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HOEVEN SIGNS LEGISLATION TO SUPPORT CENTERS OF EXCELLENCE,

ECONOMIC DEVELOPMENT

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����������� GRAND FORKS, N.D. � Gov. John Hoeven today was joined by legislators, business leaders and university officials to sign House Bill 1018, new legislation providing increased funds to address statewide workforce needs and approving $20 million for the Center�s of Excellence program, a cornerstone of the Governor�s economic development agenda. The funding is part of the North Dakota Department of Commerce�s 2007-09 budget.

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�Our aggressive economic development efforts are expanding and diversifying our economy, creating jobs and enabling us to do more for the people of North Dakota,� Hoeven said. �This budget funds important tools � like Centers of Excellence, the North Dakota Trade Office, and workforce development � that will continue to grow communities throughout North Dakota as we move into the future.�

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Over the past biennium, $20 million in state Centers of Excellence funding has leveraged more than $70 million in additional funding for research and development in agriculture, renewable energy, advanced manufacturing, business technology and other areas that are creating better paying job opportunities for North Dakotans.

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Last year, North Dakota�s aggressive economic development efforts produced 7,850 net new jobs, and North Dakota exports grew 27 percent over 2005, to $1.5 billion.

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Key initiatives included in the Commerce Budget are:

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�������� $20 million for Centers of Excellence to transform and expand North Dakota�s economy.

�������� A doubling of the budget for the North Dakota Trade Office to further expand overseas trade.

�������� One of the most aggressive R&D investment tax credit programs in the nation, offering up to 25 percent of expenditures.

�������� Increase of the Seed Capital Investment Tax Credit Limit to $3.5 million per year and expansion of the Agricultural Business Investment Tax Credit.

�������� An increase in funding of $4 million in the North Dakota Development Fund to provide gap financing for business start-ups and expansions.

�������� State funding for Innovate ND to be matched dollar-for-dollar with privately raised funds.

�������� Increased funding for the Agriculture Products Utilization Commission.

�������� More funding for Tourism to market North Dakota as a great place to tour and visit, as well as live and work.

�������� New Workforce Development initiatives, tied to an $8 million increase in funding, including:

�������� A comprehensive strategic plan for the state�s workforce system.

�������� Expansion of Operation Intern � an incentive program to encourage businesses to hire interns from North Dakota universities.

�������� A career specialist program to help public schools promote North Dakota career opportunities to high school students.�

�������� An Internship Employment Tax Credit

�������� A Workforce Recruitment Tax Credit for hard-to-fill positions

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