2011 was a busy year for economic development in our metro, the GFMEDC celebrated a year of successes at its annual meeting for investors
New businesses, plenty of expansions and continued focus on job creation and local business support has translated into an economically successful 2011.
- Ten new primary-sector businesses
- Creating roughly 300 new jobs over the next few years
- At least 17 expansion projects
- Totaling roughly $163 million in projects
- Creating more than 470 new jobs over the next few years
- The GIF assisted 11 of those 16 expansions through PACE loan participation.
- The GIF provided a $2 million match to support NDSU's Center for Biopharmaceutical Research and Production. The $2 million adds to a total of $9 million in in-kind and cash contributions including a $3 million grant from the N.D. Centers of Excellence (full story in annual report p. 13)
- Teachers in Industry Pilot Project (full story in annual report p. 19)
- GFMEDC supported Automation Tax Credit
- The GFMEDC created a manufacturing workforce council to address short- and long-term workforce shortages in the manufacturing industry.
- The GFMEDC provided $54,000 to the MSUM's Biochemistry/Biotechnology program for scholarships to support growth and presence of a highly-qualified, technically-trained workforce for the biopharmaceutical industry. (full story in Annual Report p.18)
Check out our 2011 Annual Report
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Cat Reman Drivetrain and Sundog Recognized for Job Creation During our Annual Meeting for Investors
Caterpillar Remanufacturing Drivetrain
In August of 2011, Caterpillar began a $50 million, 225,000 square-foot expansion of its West Fargo plant. The project will more than double the production capacity in their local operations. The project will create 250 new jobs.
Caterpillar Remanufacturing Drivetrain received this year's Impact Award for greatest increase in employment for their growth of 90 full time employees in 2011.
Sundog
In addition to the regional and national honors in 2011, Sundog saw significant revenue growth, increasing year-over-year revenue by 42%. Sundog's growth continues in 2012 as they recently opened a Sundog office in Denver, and they are in the process of adding a 9,000 square foot expansion to their Fargo headquarters in the Multiband Tower. On July 1, they will also open a new office in Minneapolis focused on sales and service to new and existing clients.
Sundog received this year's Impact Award for greatest percentage increase in employment at a 50% increase in 2011.
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GFMEDC Joins the Keep it Local Coalition opposing Measure 2
The GFMEDC's board of directors voted to join the Keep it Local Coalition, a group opposed to Measure 2. The measure would eliminate all property tax in North Dakota and will appear on the June 2012 ballot.
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 | | CareerFM Ad for Fargo Forum Marathon Insert |
The ad targets runners who may be interested in a job in the Fargo Moorhead area and directs them to CareerFM.com.
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Justin Pearson leaves GFMEDC, accepts position at Western State Bank
After four and a half years of service to the GFMEDC, Justin Pearson has accepted a position at Western State Bank.
As vice president of business retention and expansion, Pearson was a critical link assisting many primary-sector companies with expansion needs including PACE loans. He also worked to find and create long-term solutions such as the automation tax credit.
We very much appreciate Pearson's dedication and work to support the GFMEDC and economic development and wish him the best of luck.
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In the News...
West Fargo, Fargo and Moorhead make list of 2012 Playful City USA communities
The cities were included, in part, for their dedication to making each city a place for children to play and stay active
Playful City USA is sponsored by the Humana Foundation
Fargo ranks 20 on Forbes' List of Best Cities for Job Growth
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Do you have news to share?
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! |
