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The GIF approved five PACE loans third quarter
The Growth Initiative Fund approved the following PACE and Flex PACE loans during 3rd Quarter 2011:
Marv Haugen Enterprises Inc., in Casselton, N.D. announced a one-million dollar expansion project. The company is purchasing land for a 16,000 square foot building and will also purchase new equipment. Marv Haugen Enterprises manufactures and distributes ag and construction related attachments including attachments for skid steers and telehandlers.
Precision Dental Laboratories, Inc. in Downtown Fargo was started in 1985 and manufactures several products within the dental industry. The $1.05 million expansion will create ten jobs within the next three years.
Minnkota Windows, a Rommesmo Company in South Fargo manufactures and distributes custom-sized vinyl windows and doors for residential as well as light commercial applications. The $5.3 million expansion will create 22 jobs within three years.
SJ Machine in Casselton is a contract machining and job shop for local Original Equipment Manufacturers (OEM)'s to assemble into final product. They machine raw steel, aluminum and plastic. The $175,000 expansion will create two jobs within three years.
The following company was approved for a Flex PACE Loan (Flex PACE loans do not have job creation requirements.).
Minnkota EnviroServices, Inc. in North Fargo collects and cleans recyclable materials (aluminum, tin, plastics, glass, paper), packages them and ships the products all over the country. The company also handles document destruction. MinnKota EnviroServices has a project with a total investment worth $775,000. The company intends to create 4 jobs within the next three years (there is no job creation requirement tied to the Flex PACE loan).
The GIF is a community revolving loan fund managed by the GFMEDC. It was established in 1993 and capitalized by property taxes from Cass County, the City of Fargo and the City of West Fargo over the period of 1993 - 2001. Those funds continue to be reinvested. The purpose of the GIF is to assist the GFMEDC in achieving its mission of retaining and expanding primary-sector employment. |
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Business development activity is strong third quarter
The GFMEDC engaged 16 new business prospects, including hosting five site visits, in third quarter 2011. The GFMEDC provides customized information to help sell the region to new business prospects, hosts site visits and coordinates meetings with key contacts.
The companies represented a variety of sectors including life sciences, energy manufacturing and value added agriculture. |
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Cargill to rebuild, expand West Fargo facility
Reaffirming its commitment to the region, Cargill will rebuild and expand its oilseed processing plant in West Fargo. Completion of the engineering plans will determine the project's final costs, which are expected to total more than $50 million.
"The existing facility has served us well since we built it 30 years ago, and we are now looking at rebuilding it to meet the needs of our customers for the next 30 years," said Jaysen Schock, facility manager. Construction is expected to start late fall 2011 with completion slated in time for the 2013 harvest.
"While the total number of full-time jobs of 83 may not change much after the rebuild, the project will keep the facility as a viable business many years ahead," Schock said. "The investment reflects the hard work of our West Fargo team and shows our commitment to the West Fargo area and our farmer and elevator suppliers."
Read Full Press Release |
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ND STEM Network set to launch
The ND STEM Network will hold a press conference in Bismarck on October 20 to announce the launch of a statewide STEM network.
The network has formed to connect and increase cooperation across the state to provide greater opportunities in terms of STEM and STEM education.
ND STEM Network Launch and Press Conference
October 20, 2011
11:00 a.m. - 11:30 a.m.
ND State Capitol
Great Hall
Bismarck, ND |
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Minnesota State University Moorhead connects with industry in order to shape curriculum
In order to keep their graduates competitive, leaders at MSUM went straight to the source - companies - to find out how the school is doing in terms of student preparation. University leaders including President Szymanski and the various deans of the colleges met with about 20 companies in four sectors: healthcare, manufacturing, information technology and finance.
The college leaders have received excellent feedback and plan to implement some changes in response to the conversations. For example, MSUM will look at providing information technology courses to students going into healthcare fields.
The meetings have been so productive that school leaders plan to do them again. This time they hope to invite Minnesota State Community and Technical College.
"We believe this dialogue is important and will allow us to continue to evolve and ensure education is relevant to the working world," said President Edna Szymanski, MSUM.
The GFMEDC helped arrange the five breakfast meetings four of which were held this past fall. The final meeting in the Science, Technology, Engineering and Math (STEM) fields is scheduled for later this year.
This is the second time the GFMEDC has partnered with MSUM to do the meetings. GFMEDC supports aligning curriculum to address industry needs. That alignment will allow the schools to provide workforce to the sectors that are growing and will provide relevant experience and increased job opportunities for students.
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The region loses a strong partner
The GFMEDC said goodbye to a  cherished colleague and an important partner in economic development. Dorinda Lee Anderson, 54, West Fargo, ND, passed away September 24, 2011 at Lakeland Hospice in Fergus Falls, MN.
She was a vital part of the West Fargo community and served as the business development director for the City of West Fargo. Dorinda helped grow the economy in West Fargo by connecting new and existing businesses with available initiatives. She helped pave the way for many expansion opportunities and her great work is evident throughout the City of West Fargo.
She had many awards and achievements over the years including: 2007 - 2008 President of West Fargo Exchange Club, 2010 Governor's Choice Award for Economic Development and Outstanding Professional Developer, Outstanding Professional Developer 2010. She also served on the Board of Directors of the West Fargo Area Chamber of Commerce 2010.
Dorinda was highly respected and the region is better because of her. Dorinda will be missed and our thoughts are with her loving family and friends.
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Your News
If you have news items you would like included in an upcoming newsletter, please send the ideas or articles to lgnelson@gfmedc.com. Thank you! |
