LET’S WORK: Branstad advances policy to promote the Iowa entrepreneur

FOR IMMEDIATE RELEASE: Tuesday, October 05, 2010
Contact: Tim Albrecht (515) 276-2266

LET’S WORK: Branstad advances policy to promote the Iowa entrepreneur
Branstad puts forward three-pronged approach to assist educational and start-up efforts

(ANKENY) – Former Gov. Terry Branstad joined lieutenant governor nominee Sen. Kim Reynolds to unveil their team’s latest policy proposal to advance and promote the Iowa entrepreneur. The full policy can be found here: http://governorbranstad2010.com/assets/ready-to-start-a-business.pdf

The Branstad/Reynolds plan contains three goals:

1. Statewide Entrepreneurial Education: This proposal is to expose every Iowa student in K-12, community college, and Regents institutions to the “entrepreneurial mindset”—that is, to encourage creativity, innovation, critical thinking, and problem solving, and to prepare students for success in the worlds of business and entrepreneurship.
2. Tax Credit for Businesses That Pay For Tuition: This proposal is to, by 2015, graduate over 5000 students a year with a career and technical degree that is paid for by their employer.
3. Tax Waiver for True Startup Companies: This goal is to increase the number of business startups from 44th in the country to 25th in the country over the next 5 years.

“Iowans have creative minds, a strong work ethic and a drive for independence and self-sufficiency. This combination of skills and desires are the fuel which will drive Iowa’s economy once again,” said Gov. Branstad. “Unfortunately, we need to get government out of the way in some areas and better organized in other areas if Iowans are to realize the dream.”

Reynolds noted that Gov. Branstad will propose legislation allowing true startup businesses to function free of state income tax for their first three years of operation, and free of state sales taxes for their first three years or first $50,000 in taxable purchases.

“This action will allow startup companies to reinvest these tax dollars in their dream,” said Reynolds. “Additionally, it will help energize the Iowa economy with new employment opportunities and equipment purchases that would not have occurred but for this new program.”

For more information on the Branstad/Reynolds campaign visit www.GovernorBranstad2010.com

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