Wayne Stenehjem Pounces on Doug Burgum’s Business Investments

Wayne Stenehjem is attacking his GOP foe Doug Burgum for using a North Dakota tax credit program to invest in more than a dozen out-of-state companies.

Stenehjem says Burgum has a “moral obligation” to use angel funds to invest in local companies.

Burgum is co-founder of Arthur Ventures.

Tax records show the Fargo venture capital firm used two angel funds to invest in 17 companies, 13 of which are outside North Dakota.

Burgum says he supports “making adjustments to provide more focus on in-state investments.”