|
|
|
Economic Development
Insights |
|
Greetings!
Fargo Moorhead MSA has an unemployment rate sitting at 3.3% (not seasonally adjusted) compared to the U.S. unemployment rate of 7.7%. To see the GFMEDC's latest economic indicators, please check out the following link.
May Economic Indicators |
|
Fourth Quarter 2011 and Annual 2011 Taxable Sales and Purchases Reports Show Record Growth
BISMARCK, N.D. - Tax Commissioner Cory Fong recently released two key reports showing record growth in taxable sales and purchases. During the fourth quarter 2011, which includes the months of October, November, and December, North Dakota's taxable sales and purchases were $6.155 billion, up $2.014 billion or 48.6 percent compared to the fourth quarter 2010. For calendar year 2011, taxable sales and purchases were more than $19 billion, growing 39 percent compared to 2010.
The four major population centers--Bismarck, Fargo, Grand Forks, and Minot--reported growth ranging from eight percent in Grand Forks to 39.7 percent in Minot. These four reported taxable sales and purchases of $6.582 billion, an increase of $973 million over 2010.
"During 2011, North Dakota's economy continued to expand with statewide growth reported in all industry sectors except one," said Fong.
Retail trade, the largest sector in terms of dollars, grew by 14.4 percent when comparing 2011 to 2010, or more than four times the rate of inflation. The Consumer Price Index measurement of inflation for 2011 was 3.2 percent.
"Retail trade is the sector often looked to as a measurement of the consumer's pocketbook," said Fong. "The growth in retail trade confirms that North Dakota consumer confidence remained strong throughout last year."
Full Press Release
http://www.nd.gov/tax/salesanduse/pubs/ |
ND Exports Climb 35% in First Quarter 2012
The North Dakota Trade Office (NDTO) recently announced that North Dakota's exports for the first quarter of 2012 increased 35.1 percent over the same period in 2011, the second fastest growth rate in the nation after New Mexico, according to U.S. Department of Commerce statistics. North Dakota's first quarter export figures exceeded $1 billion for the first time in the history of the state.
"North Dakota's exports exceeding $1 billion in the first quarter alone, for the first time in our history, is a milestone for our state," said NDTO Executive Director Dean Gorder. "Local businesses continue to boost their bottom line and diversify their customer base by pursuing new sales abroad. An over 400 percent increase in exports since 2000 shows that the benefits of exporting are becoming known throughout North Dakota."
North Dakota exports grew significantly in many of the state's top destinations including Canada (56%), Australia (120%), Russia (330%), Venezuela (69%) and Kazakhstan (120%). Many other ND export destinations reported solid gains. Top export products included front end shovel loaders, agricultural tractors, soil-related agriculture equipment, wheat, legumes, crude oil and tractor parts. |
Aldevron Named One of the Best Place to Work in Industry
Aldevron in Fargo has once again been named one of the "Best Places to Work in Industry" by The Scientist magazine. Aldevron was ranked #15 in the magazine's 10th annual survey.
Aldevron is a leading provider of plasmid DNA, protein, and antibody services.
"This is a nice honor. We strive to have a positive and supportive work environment, which is strengthened by hiring employees who are also aligned with our company values and commitment to quality," said Michael Chambers, CEO of Aldevron.
The industry review is completed through anonymous employee surveys and assesses key areas such as management, integrity, communication, job satisfaction and more. |
|
Four Area Teachers To Spend Four Weeks in Industry
Four area teachers will spend four weeks interning this summer at local companies to make stronger connections between education and industry. The teachers will be at Microsoft, Sanford Health, Phoenix International, a John Deere Company and Bobcat Company.
The experience gives each teacher the opportunity to further develop their understanding of the engineering design process through practical work experience. By working with engineers at their respective company, the teacher will gain more in-depth knowledge of teamwork, collaboration, communication and other critical skills needed to be successful in the work environment. Each teacher will gain the knowledge to develop curriculum materials and lesson plans that create authentic trans-disciplinary project-based STEM (Science, technology, engineering and math) activities in the classroom. Each teacher will strengthen their ability to make curriculum content more relevant and applicable.
Each teacher will receive a $2000.00 stipend. Each company is sponsoring half the stipend with the remainder sponsored by the South East Education Cooperative and the ESTEEM Institute.
The internship program was started as a pilot project last year by the GFMEDC, NDSU and the West Fargo STEM Center. The teacher was placed at Phoenix International, a John Deere Company. The pilot project was started based on a need expressed by West Fargo School leaders. |
|
GFMEDC Partners to Create Quality of Life Magazine
The GFMEDC is once again partnering with Journal Communications on a magazine to highlight the region's quality of life.
Journal Communications will spend several weeks selling ads for the magazine. Editors will be in town later in the summer to gather and write regionally-focused stories.
Check out the current Fargo Moorhead Images Magazine
http://www.gfmedc.com/publications
|
|
GFMEDC Hires Tara Baltes as Executive Assistant
The GFMEDC recently hired Tara Baltes as executive assistant.
Prior to accepting her position, Baltes was a human resource generalist at Border States Electric in Fargo. Baltes also worked in operations at Cornerstone Bank prior to that. Baltes has previously served as campaign coordinator for the United Way and as a site coordinator for United Blood Services. Baltes has a bachelor's degree in mass communications from MSUM.
Baltes lives in West Fargo with her husband David and two children.
|
Brandt Crossing LLC breaks ground on Brandt Crossing Office Park in southwest Fargo
Brandt Crossing LLC proudly announces the ground breaking of Brandt Crossing Office Park in southwest Fargo!
Conceived as a 17 lot office park with strict architectural control, it will have more than 125,000 SF of office space at full build out. Construction of the initial 10,537 sf office building is slated to be completed by Fall 2012. |
|
In the News...
Dennis Couchon reflects on the level of economic recovery in the U.S.
By monitoring the cognitive performance of online game users, Luminous Labs came up with a list of the braniest metros.
The review of recent GDP growth highlighting states like North Dakota that have the fastest growing economies
GDP, North Dakota and Weather
Lara Hoffman contributor to Forbes discusses the latest Q1 US GDP estimate, noting North Dakota's high GDP contribution at 7.6%
|
|
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! |
|
|
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.
|
|
|
