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Grand Forks Thread receives $2.5 million from North Dakota Wonder Fund

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Grand Forks Thread receives $2.5 million from North Dakota Wonder Fund


GRAND FORKS – A Grand Forks-based company has been given an additional $2.5 million from the North Dakota Wonder Fund.

Thread, which specializes in autonomous inspection and asset management, received

$2.5 million from the Wonder Fund last year.

The other investments include $250,000 in Tavolo, an AI content creation and automated marketing service for restaurants, and $1 million in Drut Technologies, a cloud data center development company.

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“The recent round of investments highlights Wonder Fund’s strategic capital deployment, significantly boosting growth for existing North Dakota companies and attracting new businesses to North Dakota,” Commerce Head of Investments and Innovation Shayden Akason said in a release. “These companies are integral to our key industries and the emerging sectors of the state’s economy.”

The Wonder Fund also invested $250,000 into Aethreo, a company specializing in AI-powered data analytics, through the Angel Match Program. The program seeks to support early-stage businesses and is through the North Dakota Development Fund.

The Wonder Fund is a North Dakota Development Fund investment program directed by “Shark Tank” star Kevin O’Leary and O’Leary Ventures. The fund helps support start-ups and early-stage companies. O’Leary Ventures recently signed a partnership with the Grand Forks HIVE, where Thread is located, for naming rights to the main floor conference rooms.

“Wonder Fund-North Dakota’s investment here is about seizing an unprecedented opportunity in Grand Forks,” O’Leary said during a visit to Grand Forks in January. “This isn’t just another tech hub. This is the future.”

During his visit, O’Leary discussed economic development and business. He spoke with UND President Andrew Armacost

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in a “fireside chat”

and spoke at the Grand Forks-East Grand Forks

Chamber of Commerce’s annual dinner.

During the dinner, he said it’s time to start telling the story of North Dakota.”

“It’s not just oil and gas. It’s way more than that,” O’Leary said. “It’s biosciences, it’s (artificial intelligence), it’s drone technology. … Nobody knows the story. I’ve been totally committed to pushing yourself because it’s the right thing to, so let’s go kick some (rear-end).”

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Our newsroom occasionally reports stories under a byline of “staff.” Often, the “staff” byline is used when rewriting basic news briefs that originate from official sources, such as a city press release about a road closure, and which require little or no reporting. At times, this byline is used when a news story includes numerous authors or when the story is formed by aggregating previously reported news from various sources. If outside sources are used, it is noted within the story.





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ND teacher of the year dines with President Joe Biden at Jill Biden’s annual White House dinner

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ND teacher of the year dines with President Joe Biden at Jill Biden’s annual White House dinner


Usually, state dinners are reserved for world leaders, such as presidents, prime ministers or kings, as a sign of respect for the influential positions they hold. This was the first time the state teachers of the year were welcomed to a state dinner.



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Midwest governors among 48 who oppose Air National Guard move to Space Force

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Midwest governors among 48 who oppose Air National Guard move to Space Force


North Dakota, South Dakota and Minnesota governors signed on to a letter Monday alongside 45 other state governors, as well as five territories and commonwealths, opposing the Biden administration’s move to incorporate Air National Guard service members into the Space Force.

The letter from the National Governors’ Association, addressed to Secretary of Defense Lloyd Austin, is written in opposition to a legislative proposal submitted by the Department of Defense to the Senate Armed Services Committee that would transfer some Air National Guard personnel and equipment currently being used on space missions to the Space Force.

The Defense Department proposal would require Congress to override existing law requiring that governors approve changes to National Guard units, through Title 10 and 32 of the U.S. Code, that outlines gubernatorial authority over their states’ National Guard.

The bipartisan group of governors signing the letter said the proposed measure would hurt governors’ abilities to use the National Guard in response to crises. Governors must retain full authority over these units “to protect operational readiness and America’s communities,” the letter states.

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North Dakota Gov. Doug Burgum, South Dakota Gov. Kristi Noem Minnesota Gov. Tim Walz each signed the letter.

“Legislation that sidesteps, eliminates or otherwise reduces Governors’ authority within their states and territories undermines longstanding partnerships, precedence, military readiness and operational efficacy,” the letter states. “This action also negatively affects the important relationships between Governors and DOD at a time when we need to have full trust and confidence between the two to meet the growing threats posed by the era of strategic competition as well as natural disasters.”

Air Force Secretary Frank Kendall told federal lawmakers earlier in April that the proposal would shift roughly 700 National Guard members to Space Force as part of a one-time transfer. There are currently 14 units, with about 1,000 personnel, working on space-related missions in seven states — Alaska, California, Colorado, Florida, Hawaii, New York and Ohio — that could be impacted by the move, according to the National Guard Association of the United States.

The National Guard advocacy group also released a statement opposing the draft legislation. Kendall told reporters in April that he doesn’t “see a reason why a state needs a Space Force militia.” But Retired Maj. Gen. Frank M. McGinn, the organization’s president, said keeping space missions within the National Guard keeps the personnel current serving on space missions in work, as many are not able to move or take on full-time responsibilities. It allows states to retain the same defense and military capabilities as other parts of the country, he said — comparing the issue to states having artillery and cyber units in the National Guard, separate from the U.S. military.

“Here is what Secretary Kendall is asking to do: Skirt federal law to transfer nearly empty units to the Space Force, thereby reducing the nation’s military space capabilities at a time when our nation is seeing growing competition in space,” McGinn said. “I don’t see why he wants to take this action. And a growing number in Congress wonder the same.”

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Only two state governors, Florida Gov. Ron DeSantis and Texas Gov. Greg Abbott, did not sign on to the letter. Both states have a vested interest in Space Force operations and development, with Patrick Space Force Base in Brevard County, Florida being one of the five current bases of the military branch. National Aeronautics and Space Administration (NASA) also has operations in both states.

This story was originally published by Iowa Capital Dispatch and shared via SouthDakotaSearchlight.com.

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This story was written by one of our partner news agencies. Forum Communications Company uses content from agencies such as Reuters, Kaiser Health News, Tribune News Service and others to provide a wider range of news to our readers. Learn more about the news services FCC uses here.

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North Dakota's U.S. Senators cosponsor legislation to repeal federal tax credits for electric vehicles

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North Dakota's U.S. Senators cosponsor legislation to repeal federal tax credits for electric vehicles


(Washington, D.C.) — North Dakota’s Senators are supporting legislation aiming to repeal federal tax credits for electric vehicles and charging stations. 

Currently, a tax credit of up to $7,500 can be issued to individuals following the purchase of either a qualified plug-in electric vehicle, or fuel cell electric vehicle. The tax credits are estimated to cost approximately $180 billion dollars over the next 10 years, according to Senator Kevin Cramer.

“It’s time we say the quiet part out loud: the market doesn’t want and isn’t buying EVs, these tax credits largely benefit the wealthy by facilitating the sale of expensive EVs, and we’re funneling taxpayer money to a supply chain controlled by China,” said Cramer. “This is a waste of taxpayer money, especially when we’re nearly $35 trillion dollars in debt. Let’s end this electric vehicle agenda nonsense and finally get rid of President Biden’s EV and charging station tax credit scheme once and for all.”

Both Senators Kevin Cramer and John Hoeven signed on to legislation presented by U.S. Senator John Barrasso (R-WY) in cosponsoring the Eliminate Lavish Incentives to Electric (ELITE) Vehicles Act. It would aim to repeal the established tax credits for the vehicles and charging stations. 

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The tax credits were created under the Biden Administration’s Inflation Reduction Act. The stated goal of the EV credits is to encourage the adoption of the technology and strengthening of the EV charging industry.

“Since the President took office, EV sales have more than quadrupled, with more than four and a half million EVs on the road. EV ownership is more affordable than ever before, with prices down over 20% from one year ago,” said a statement from the Biden Administration. “The number of publicly available charging ports has also grown by over 70 percent, with 170,000 publicly available EV chargers across the country, putting us on track to deploy 500,000 chargers by 2026 – achieving the President’s goal four years early.”

You can read more from the Biden Administration on their stated goals by clicking here. 



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