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GFMEDC Smart Brief

Fargo Moorhead MSA has an unemployment rate of 2.8% (not seasonally adjusted) compared to the U.S. unemployment rate of 5.3%. To see the GFMEDC's latest economic indicators, please check out the following link.

July Economic Indicators

President's Report - Workforce Study and Valley Prosperity Partnership collaborations plus new business attraction add up to a busy, productive summer for economic development

We have had a great deal of focus on our Workforce Study since in was unveiled in mid-June, our community collaboration continues with presentations to civic and political organizations. The real action portion of the plan will commence the third week of September with the kick off of five action groups.

Interest in Fargo from outside companies continues to be strong. Companies are interested in locating or expanding to our region and our local tech, manufacturing and distribution companies continue to grow and expand.

The Valley Prosperity Partnership (VPP), a joint venture of leading business professionals across the Red River Valley, has initiated two more development committees focused on entrepreneurial and infrastructure issues across the Valley. These two groups will establish a working paper to guide activities over the next several years.

The VPP's Water, Workforce and University Research groups continue to meet and provide more focus and leadership on these important issues within the Valley.

GFMEDC recently held a breakfast to update investors on the organization's latest activities

Workforce initiatives, supporting the entrepreneurial ecosystem and connecting local companies to state incentives were just a few of the highlights the Greater Fargo Moorhead Economic Development staff recently focused on during an update to roughly 50 investors.

Business retention and expansion visits (BRE visits), numbered at 96 (first half of 2015), create opportunities for our organization to have conversations with local businesses and connect them to incentives and programs or offer assistance to help them thrive. From these visits, the EDC has learned that thirteen business expansion projects are or will be underway for 2015, with a $60 million capital investment and the creation of roughly 200 new jobs.

The EDC continues to support the entrepreneurial community, including sponsorships of various events. Events, organized by Fargo-Moorhead residents, include: Tech Tailgate, Fargo Startup Weekend, Hack Fargo, Drone Focus, Midwest Mobile Summit and Cultivate.you.

The recent workforce study pushes to the forefront one of the area's largest challenges, a lack of qualified workforce. The challenge of workforce recruitment, retention and development has been a large focus of the EDC for several years.

The EDC works hard to create collateral, engage through social media and use marketing to recruit people to the area.

Business Retention, Expansion (BRE) visits help the EDC track changes in the market, link companies to resources and people

The GFMEDC conducts Business Retention and Expansion (BR&E) visits with primary-sector businesses in Cass and Clay Counties GFMEDC staff has done roughly 96 BRE visits in the first half of the year.

Through those visits our organization has talked about available programs, learned of challenges and opportunities facing businesses and assisted in business expansion projects.

Projects relating to expansion and retention: 22

Expansion projects: 15

Projected capital investment (estimated): $60 million

New Job Creation (Projected): 200

Most popular programs (info requested): Sales tax exemption, ND Automation Tax Credit, ND New Jobs Program

Trends:

2015 has seen fewer expansions compared to 2014, most likely due to the current agriculture economy. Visits show positive growth in manufacturing (outside of ag economy), growth in IT sector. Workforce is still a top challenge in all industry sectors. In manufacturing the workforce challenge is focused on skill alignment.

GFMEDC continues to work to attract new businesses to the metro, business development projects total 15

The GFMEDC maintains a business development program in which we work to recruit new businesses to the Fargo Moorhead region.

The GFMEDC has responded to 15 business development projects.

3 Distribution

4 IT/Unmanned Aerial Systems (UAS)

3 Back office

3 Manufacturing

1 Value added ag

1 Data center

Project source:

8 Directly from the company

6 Site selectors

1 ND Department of Commerce

Committees have begun to take shape and will get to work this fall on initiatives outlined in the Workforce Study

Leaders of the five organizations have taken to the stages of area service groups, board meetings and investor gatherings to talk about the recently released 100-page workforce study.

At the same time, groups are forming and, in a few short months, will begin to tackle the four action items laid out within the study.

Committees will begin meeting in September focused on the four following areas:

1. Cultivate: Strengthen the pipeline of local talent to support employers in the region.
    a. Community 101 for college students
    b. Tiny Pulse for Talent Insights
    c. Winter Festival to "Embrace the Cold"
2. Attract: Enhance and coordinate efforts to bring new talent to the region
    a. Friends and Family Campaign
    b. Talent Recruitment Services
    c. Trailing Spouse Network

3. Build: Develop a framework for financial self-sufficiency and upward mobility for workers in low-wage and basic-skill jobs
    a. Nonprofit collaborative
    b. Affordable Housing Advocacy
    c. Employer-led childcare
4. Innovate: Encourage the development of innovative solutions to address the region's workforce-related challenges
    a. Technology Hackathon
    b. Social innovation challenge

The five organizations driving the Workforce Study are the GFMEDC, the Chamber, the United Way of Cass Clay, the Convention & Visitor's Bureau and the FM Area Foundation.

The Workforce Study is also supported by the following sponsors:

Sanford Health, Minnesota State University Moorhead, City of West Fargo, Meineke-Johnson Company, Forum Communications Company, Border States Electric, Essentia Health, Eide Bailly,

American Crystal Sugar, North Dakota State University, Industrial Builders, Inc., Trail King Industries, Inc., Moorhead Economic Development Authority, North Dakota State College of Science, O'Day Equipment, LLC, Dakota Medical Foundation

The GFMEDC's new "Thursday's Two-cents" email aims to connect recruiting partners to our resources

The GFMEDC has recently begun sending a short email every Thursday to our recruiting partners. The "Thursday Two-cents" message focuses on one service or piece of collateral and how recruiters can use it. The emails are intended for anyone who would like collateral or information about the Fargo Moorhead metro.

If you would like to be included or know of someone who could benefit, send us the contact info and we'll add them to the list. Email tgelinske@gfmedc.com

In case you missed it, check out our GFMEDC Annual Meeting Video on YouTube

GFMEDC Annual Report

Our annual report is now available. Please request hard copies or check it out online.

If you would like to glance at our Annual Meeting Slides, click here.

A spotlight on our programs...

Here at the GFMEDC, we work many collaborative initiatives, support community efforts and manage some sizable projects of our own. Please take a look at what we have going on here. You can see the complete list in an online booklet on our website under What We Do.

Faith in Fargo Moorhead Page

Based on feedback from investors and partner organizations, the GFMEDC researched and gathered information to highlight the diverse faith represented in Fargo Moorhead.

This is great information for people who are thinking about joining our community. Share it with someone you know or link to it on your website. The URL is right here.

Upcoming Events

Startup Drinks

August 18

5:30 - 7:00 p.m.

More info

1 Million Cups

Every Wednesday 9:15

FMCT The Stage

http://fargo.sites.1millioncups.com/

Spark your Startup

September 3

6:30pm - 9:30 pm

Barnesville, Minn.

More info

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 Lisa Gulland-Nelson at 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.