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Economic Development
Insights  

Greetings! 

 

Fargo Moorhead MSA saw a slight rise in the unemployment rate which now sits at 4.2 % (not seasonally adjusted) , still very low compared to much of the country. To see the GFMEDC's latest economic indicators, please check out the following link.

 

 

July Economic Indicators   

 

 
Caterpillar Reman Drivetrain to Invest $50 Million, Will Add 250 Jobs

In August, Caterpillar officials will begin a $50 million expansion project creating 250 new jobs during the next three years.  The project includes a 225,000 square-foot addition to their West Fargo plant. 

In April, the GFMEDC along with Governor Jack Dalrymple, the N.D. Department of Commerce and West Fargo's Economic Development team began contacting officials at Illinois-based Caterpillar to encourage the West Fargo expansion. 
 
"Our facility in West Fargo has been producing remanufactured components for the past 40 years, and now we're looking forward to the next chapter in our history," said Dan Walerius, Caterpillar West Fargo facility manager. "We appreciate the support we've received from the state of North Dakota, the city of West Fargo, and the Greater Fargo Moorhead Economic Development Corporation in making this vision a reality."

 

Caterpillar's remanufacturing operations return end-of-life components to their original condition in terms of reliability, durability and performance. The West Fargo expansion will help Caterpillar meet the strong demand for remanufactured drive train components for large, off-highway trucks and other mining equipment, including final drives, transmissions, torque convertors and steering clutches.

 

Read Full Press Release 

 
Vaccinology Minor Announced at Press Conference 

 

Tri-College University, in collaboration with the Greater
Fargo Moorhead Economic Development Corporation and Sanford Health, is launching a first-in-the-nation undergraduate academic minor in vaccinology, starting Fall 2011.

The addition of an academic minor in vaccinology was driven in part by the Cass Clay Economic Plan which identifies vaccines as an emerging opportunity which has the potential to translate into long-term sustainable economic growth for our region.

This opportunity has significant takeoff power because there are more than 2,500 students currently enrolled in life sciences and health care fields at the Tri-College partnering schools: North Dakota State University, Concordia College, and Minnesota State University Moorhead.

 

Read Complete Press Release

 
Air service grant could bring additional air service to Fargo 

The GFMEDC is assisting the Fargo Airport Authority in the application of a federal grant that will help in efforts to recruit an additional route to Hector International Airport. The Department of Transportation's Small Community Air Service Development Grant, worth $750,000, could be used to entice an airline to add non-stop service to Dallas/Fort Worth. The money would help offset the start-up costs incurred by the airline.    

    
The Fargo Moorhead Convention and Visitors Bureau and the Chamber of Commerce, Fargo Moorhead West Fargo are also assisting with the grant application.

The Fargo Airport Authority meets with airlines on a regular basis to retain and attract service.  As business has become increasingly global, quality air service is important in maintaining a healthy and vibrant economy, and the GFMEDC continues to assist in efforts to attract and retain air service.  
 
U.S. Navy officials will discuss Science, Technology, Engineering, & Mathematics (STEM) initiatives with the N.D. STEM Network

The North Dakota STEM Network will host U.S. Navy Rear Admiral Patricia Wolfe in a meeting about STEM initiatives in conjunction with Fargo Navy Week, Aug. 8-14, 2011. The meeting will be held at North Dakota State University, and ND STEM Network members from across the state will join in via interactive video network.

 

The Navy's need for highly educated and capable sailors continues to grow as its role around the world expands and becomes more technically demanding. The North Dakota STEM Network, meanwhile, is a group of leaders from across North Dakota - from K-12 and college-level educators to economic developers - who seek to increase cooperation in providing opportunities for students to be creative and innovative in gaining 21st century skills through increased engagement in project-based learning driven by the science, technology, engineering and math (STEM) disciplines.

 

Fargo Navy Week, one of only 21 Navy Week celebrations around the United States in 2011, culminates with the Fargo AirSho, Aug. 13-14. Throughout the week, Naval officers and sailors will meet with business, civic, education and government leaders, participate in community events, engage local youth and veterans and complete public service projects.

 
 
In the news...

 

 

The Wall Street Journal article Frigid North Dakota Is a Hot Draw for College Students by Kevin Hellicker, highlights the popularity of North Dakota colleges for out-of-state students. 
www.wsj.com
  
 
The mission of the GFMEDC is to grow and diversify the economy in Cass County, ND and Clay County, Minn. through the attraction, retention and expansion of primary-sector employers. 

 

A primary-sector company is one that brings new wealth into the community through the sale of its goods and services outside the trade area.  This new wealth circulates and supports all other sectors of the local economy, thus making the primary sector the principle driver of economic growth. 
  
Thank you for your continued support of the Greater Fargo Moorhead EDC and economic development.  We look forward to your feedback.