An executive from the company that owns Pioneer Hi-Bred International went before state legislators Tuesday and asked them to reject a change in corporate taxes that Governor Culver’s seeking. The governor says a "loophole" allows corporations that’re based out-of-state to shift transactions out-of-state in order to pay lower corporate tax rates.
DuPont acquired Pioneer in 1999 and DuPont vice president Eric Fyrwald told lawmakers his company needs reasonable taxes to be competitive here. "It’s important, obviously, that we have a competitive tax structure and competitive work rules so that we can have flexibility with our workforce to do what it takes to compete with China, India or anyplace else in the world," Fyrwald said.
Fyrwald praised Iowa’s quality of life, but told lawmakers they need to do more to ensure Iowa becomes a center of the bioeconomy. Fyrwald urged legislators to focus on Iowa’s K-through-12 education system.
"We have to have a continuing strengthening of our education system," he said. "If we’re going to hire the best researchers from India, China, Boston to come here, they’re going to want the best education system in the world to educate their kids."
Fyrwald spoke to four legislative committees which deal with agriculture and economic development issues.