BISMARCK, N.D. - Before the recess, the House passed a tax credit for businesses looking to increase their output with automated technology. The bill sets $500,000 for the credit each year of the biennium.
A business could write off 20 percent of the equipment cost, and Tom Shorma, the CEO of WCCO Belting in Wahpeton, says he'll absolutely use this. His business produces then ships rubber conveyor belts worldwide. He says the more he automates, the more he can pay.
“If they can produce more for the business and the business doesn't have to hire more people, it generates more revenues and provides more opportunities to compensate those people at a higher level,” said Shorma.
In order to get the credit, businesses have to prove a 5 percent or more increase in output, wages or workplace safety.