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Photo Courtesy of Fargo Moorhead CVB |
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Greetings!
Fargo Moorhead MSA has an unemployment rate sitting at 3.9% (not seasonally adjusted) compared to the U.S. unemployment rate of 7.1%. To see the GFMEDC's latest economic indicators, please check out the following link.
May Economic Indicators
The GFMEDC also participates in the collection of data related to cost of living. Information for the C2ER Cost of Living Data Index is compiled three times per year. The average cost of living index is 100. In the first quarter C2ER report, Fargo Moorhead MSA's cost of living index is 95.2 well below New York (Manhattan), the city with the highest cost of living index at 229.6.
First Quarter 2013 C2ER
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President's Report: Making progress in key areas of business, workforce and entrepreneurial development
As we close out the first six months of 2013 we have achieved excellent results in our three key focus areas, business, workforce and entrepreneurial development. But maybe our biggest achievement was bringing the EDC staff to full strength for the first time in several years.
With the addition of Teri Dobbs, Director of Workforce Development, our staff is complete and working hard to assist our primary sector and entrepreneurial communities in the region. Teri brings more than 15 years of HR attraction experience with MeritCare and Sanford Health and will work closely with businesses and our education partners on workforce issues.
We are also halfway through our Strategic Planning process, which we hope to conclude prior to Thanksgiving 2013. We have identified five key "focus points" that will be measured for success and strategies will be identified and implemented. The five points are:
1. An exceptional stable and growing economy
2. Extraordinary business health
3. An unparalleled workforce
4. Unrivaled education and research
5 World-class communities
Each of these "Focus Points" will have metrics associated with them and specific strategies to work toward. Once completed, the plan will offer the Fargo Moorhead area a strong strategic direction that will also be tied into a larger Red River Valley initiative.
We have some incredible community discussions coming up in the third quarter, August 9, 2013 TEDX Fargo (education) will be held in downtown Fargo, exploring different ways education will change our community, region and the world in the future. I am proud that I have been asked to co-host this event with Michelle Weber, Principal at the West Fargo STEM Center Middle School.
Health Talk will be held on August 15, 2013 in Island Park, an exciting new event offering a unique new way to learn about all the health-related companies and services that make Fargo Moorhead a truly world class health ecosystem.
We will post these and other new and exciting programing in the community that strengthens our community and really does make Fargo Moorhead a "SMART MOVE" |
GFMEDC launches new careers site
The GFMEDC has launched a new careers page. The new job search page replaces CareerFM website, a separate website from GFMEDC. Housed within the GFMEDC website, the careers section will present a more streamlined look giving job seekers easy access to job openings in the metro while continuing to provide information about the region's quality of life and business climate.
The updated technology also makes the site more user friendly for employers and staff. The url CareerFM.com will still be maintained but will redirect users to the GFMEDC website. |
Teachers in Industry continues to expand, places six teachers at local companies
Six area teachers have been learning the ropes at an area company for four weeks this summer making stronger connections between education and industry. The teachers have been placed at Microsoft, Sanford Health, John Deere Electronic Solutions, Bobcat Company, Ulteig and Moore Engineering, Inc.
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 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.
The internships started June 3rd and will run through June 28th. The teachers spend Monday through Thursday at their respective company and on Friday the interns meet to reflect on their experiences.
The project started in 2011 as a pilot placing one teacher at John Deere Electronic Solutions. Last year the program placed four teachers.
The program is a collaboration among the GFMEDC, NDSU and the Southeast Education Cooperative.
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North Dakota leads GDP growth, five times the national average
A June report from the U.S. Bureau of Economic Analysis (BEA) shows widespread economic growth in 2012 based on changes in real gross domestic product (GDP). Real GDP by state is defined by the BEA as "an inflation-adjusted measure of each state's production based on a weighted average of national prices for those products produced within each state."
The BEA reported that real GDP increased in 49 states and the District of Columbia in 2012, growing by a nationwide average of 2.5 percent. The BEA divides the nation into eight reporting regions and growth was realized in each of the eight regions. Durable-goods manufacturing was the largest contributor to growth, increasing by 9.1 percent. In seven of the eight regions, this sector was the largest contributor to growth.
The state with the fastest rate of growth was North Dakota, with real GDP growth of 13.4 percent, over five times the national average. In North Dakota, the mining sector was the largest single contributor to GDP growth, accounting for 3.3 percentage points out of the 13.4. However, this means that excluding the mining sector completely, North Dakota realized real GDP growth of over 10.0 percent, still four times the national average.
Other states in the top five were Texas at 4.8 percent, Oregon at 3.9 percent, Washington at 3.6 percent, and Minnesota at 3.5 percent. States with the slowest rates of growth were Maine at -0.1 percent and Delaware, Wyoming, New Mexico, and South Dakota at 0.2 percent.
Pam Sharp, Director ND Office of Management and Budget
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GFMEDC's 2012 Annual Report is now available
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GFMEDC welcomed 60 economic development professionals for the Economic Development Association of North Dakota (EDND) Spring Conference
The GFMEDC hosted the EDND Spring Conference in downtown Fargo June 17-19. The conference focused on economic development topics and included tours of Microsoft, the NDSU Greenhouses and a walking tour of Fargo's revitalized downtown. |
GFMEDC connects local business bankers with additional gap financing
The GFMEDC recently facilitated meetings to educate nearly 50 banking professionals at six regional banks on a new gap financing program. The financing is provided through the North Dakota Opportunity Fund and is managed by the Lewis & Clark Regional Development Council.
The North Dakota Opportunity Fund was started in late 2012 as a result of the State Small Business Credit Initiative (SSBCI). The Small Business Jobs Act of 2010 created the SSBCI to leverage private financing to help small businesses and manufacturers attain loans and investments needed to expand and create jobs. A consortium of 38 North Dakota municipalities received funding for operation of a loan participation program. Included in this consortium are the cities of Casselton, Fargo and West Fargo.
If you have any questions about the fund, please feel free to contact John Machacek, Research & Business Information Manager, at jmachacek@gfmedc.com or 701-364-1921. |
Airline travel continues to increase, Fargo up 3.5%
Airline travel in North Dakota is maintaining a 10% increase from last year's record-breaking numbers. Williston still leads the state in growth, partially due to regional jet service, which is also now available in Dickinson. Statewide, North Dakota has carried more than 40,000 more passengers than at this point last year.
"Minot has reached the capacity of their terminal, and we've been seeing steady, consistent growth in the east," says Joshua Simmers, Aeronautics Commission. "It's not just a busy season for aviation in North Dakota; it's an indicator of the growth across our state. Our agency is noticing increase in commercial service and in aviation over all, and we are doing our best to meet the aviation infrastructure needs communities have."
Fargo is up 3.5% comparing May 2013 to May 2012. |
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In the News...
"North Dakota oil boom rippling through Minnesota" by John Welbes, Twin Cities Pioneer Press A study by the Federal Reserve Bank of Minnesota cites economic activity hundreds of miles from the oil boom in Western North Dakota Full Story
Fargo Moorhead Recognized by Area Development Magazine Area Development Magazine recently ranked the Fargo Moorhead Metro #2 overall among mid-sized cities.
The Fargo Moorhead Metro also led or ranked high in the following categories:
- #1 Prime workforce growth
- #4 in economic strength indicators
Fargo ranked #2 in three additional areas
- economic strength
- recession busting
- "now" cities.
Full Story |
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CareerFM wants your jobs
Your jobs enhance our website and allow us to better market the region to potential residents.
Your investment includes the opportunity to post your jobs on CareerFM.com. We ask that you limit the jobs to degree-required positions in the Fargo Moorhead Metro.
We appreciate your help!
Please contact Tifanie Gelinske, VP, Workforce Development with questions tgelinske@gfmedc.com. |
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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! |
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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.
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