Randy Daly: Nick Begich III knows how to build businesses

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By RANDY DALY

Nick Begich built a business in Alaska, that’s a good thing. It brings significant benefits to our state, including tax revenue, employment, infrastructure, and long-term stability for Alaskans.

An immediate benefit is increased tax revenue. Even if some workers are located elsewhere — think NANA or CIRI — corporations pay state taxes.

Alaska generates revenue from corporate income taxes, payroll taxes, and fees. Headquarters in our state captures taxes on profits, and property, for local employees. There are Alaska businesses that pay higher rates to the State of Alaska, than Seattle residents pay in sales tax, and Washington has the highest state sales tax rate in the country.

Headquarters in Alaska creates local jobs. Positions in management, administration, finance, marketing, and operations can be staffed by residents at a higher pay scale than workers in other countries. This provides direct employment opportunities and helps stimulate the local economy. Employees will spend wages on housing, goods, services, and taxes in Alaska, creating a multiplier1 effect throughout the economy.

Historically we face challenges with talent retention across all industries. An international business centered in the state helps attract and retain skilled professionals who otherwise leave for more economically dynamic regions. Nick’s business brings visibility and opportunities helping to reverse this trend. A more diverse, knowledge-based workforce will also stimulate growth in other sectors. ‘Local dollars make local sense.

Business presence often leads to improvements in infrastructure, transportation, communication, and energy resources. The state and local municipalities may invest in roads, broadband, fiber and critical infrastructure to accommodate the needs of a global business. This development benefits not only the business but also the local population. To support a global footprint Alaskans could end up with internet as fast as the Lower 48. 

Alaska’s economy has long been heavily dependent on three industries, energy, fishing and government. This reliance on extractive industries makes the state vulnerable to fluctuations in commodity prices and environmental changes. Attracting business from another sector diversifies our economy and reduces dependence. Diversification is essential for long-term economic stability. We would no longer depend on a three-legged stool economy.

Nick Begich’s business creates a global market bridge. It provides opportunities for Alaskans to engage in global supply chains or benefit from international trade connections. Moreover, it enhances Alaska’s visibility on the world stage, attracting other businesses to invest or expand in Alaska.

Nick’s business invests in community development, education, or environmental projects.

I was pleased to see Nick’s investment in my old stomping grounds in East Anchorage. This local investment fosters goodwill and strengthens the relationship between business and community, leading to a robust and supportive environment.

A business in Alaska, large or small, offers economic benefits to the state, including tax revenue, job creation, infrastructure, diversification and it strengthens global connections. We want business investments for economic stability and growth. For these reasons, it is good for Alaska.

Randy Daly is a Kenai resident, was in the United States Marine Corps Reserves, former member of the State Chamber of Commerce board and Kenai Chamber of Commerce board.

10 COMMENTS

  1. Nick has been a part of the startup community in Alaska for years. He has invested in at least a couple of the Alaska startups I know of and mentored many more. The attacks on Nick from Peltola’s campaign are just not right or fair. He has never cared whether someone is a Democrat or Republican when there starting a business. He just wants to help Alaskans make it. I know because he helped me start my business.

  2. That’s all fine and dandy, but Begich has yet to specifically promise not to vote/caucus with the D.C. Democrats if he gets elected. Based on Kenai Peninsula’s experiences with Knopp, Ruffridge, and Bjorkman, we can no longer assume a ‘Republican’ will act like a Republican and actually vote Republican. We’ve gotten to the low point now where, to be on the safe side, the question must be asked of any Republican: If elected, will you caucus/vote with the Democrats? An analogous question to a Democrat pol would never need to be asked by a Democrat voter. Must be nice. So, I’ll ask the question: Nick, if elected, do you promise not to vote/caucus with the D.C. Democrats?

    • If Nick is too busy fending off the lies from Scary Mary’s campaign to make “promises” that mean nothing to a lot of turncoats what then?

      My suggestion is to meet the man in person as many have done because He is so accessible and makes every effort to answer everyone’s questions (Mary will never respond)

      I have absolutely no doubts about Him or his name recognition with Mark or Tom after he spoke and answered all my questions with certainty.
      I will not donate or support anyone locally I haven’t met or spoken with.

  3. Begich is being attacked from the other side because they hate success. Jealousy is the trademark emotion of Democrats.

    • He is CEO of a software development company called FarShore Partners. I believe he also founded this company.

      • In other words, his firm developed software for customers needing that expertise. His success testifies to his ability to compete in a highly competitive market. He put the firm dormant to pursue politics. We need his skills in congress.

  4. Since Nick is such a successful business man, and since businesses pay taxes in the SOA, maybe Nick should talk about how much he has paid? Oh, minimal while employee people over seas as cheap labor is what he really likes.

    • So, let me see if I have this right.
      When a business man makes decisions that will minimize costs, minimize the business’ tax burden, and maximizes profit, you think that is a problem? I see that as being smart.
      .
      Tell me, if you were running a business, and you could get your product cheaper overseas, why would you not do that?

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