GFMEDC Smart Brief

Fargo Moorhead MSA has an unemployment rate of 2.4% (not seasonally adjusted) compared to the U.S. unemployment rate of 4.8%. To see the GFMEDC's latest economic indicators, please check out the following link.

January Economic Indicators

President's Report - Higher Education Institutions in FM drive economy and provide talent pool

Welcome to 2016!

2015 was another banner year for the Fargo Moorhead Region! Even with the adjustment going on in our number one industry sector, agriculture, our unemployment numbers hit an all time low of 1.8 % in the third quarter, the lowest in the United States. What does it mean for a region to have its number one business sector in transition and to continue unabated growth?

Dorothy's line "I don't think we are in Kansas anymore" applies to Fargo and the entire Red River Valley. It's clear our economy has reached a strong balance when our largest business sector and the downturn in the Bakken has minimal impact on our unemployment and investment dollars. Believe me, this is a very special place.

There does seem to be downtick in a number of sectors, which carried forward from the fourth quarter. Capital investment and hiring in the first months of 2016 would definitely help avoid a slowdown. If we look back eight years to 2009, the rest of the country was in the early stages of recovery from a major recession. The presidential election cycle had everyone holding off to see if a new President would be elected. I think the combination of oil and commodity prices being where they are, coupled with the strong dollar, is causing reflection on spending in this 2016 Presidential election year.

One of our single largest benefits is having our unparalleled higher education institutions. NDSU, MSUM, Concordia, M-State and NDSCS make us one of the strongest higher educational areas in the United States. These institutions not only provide us with an incredible talent pool, but they are probably the single largest economic drivers in our region. If you think of salaries, product purchasing, services being purchased, higher education is the backbone of our economy, and as such, its growth and well being is of vital interest to our entire community.

There's a popular saying, "don't sweat the small stuff". It seems at times our community focuses on small issues and lets the big picture slide by; the strength and well being of our higher education institutions is CRITICAL to our region's long term success. I call on every business and community groups of all political persuasions to stop and focus on the positives and find ways to support higher education in our region.

EDC ends year with 20 local expansion or retention projects

The EDC assisted with 20 new local business expansion or retention projects in 2015 (in the Fargo Moorhead MSA):

$66,055,000.00 - Capital investment

153 new jobs

12 Manufacturing

2 Value-added Agriculture

2 Corp headquarters

2 Distribution

1 IT

1 Back office

Year to date, 19 of these projects are still active, and one was completed in 2015

Recruiting new companies: the EDC engaged in 24 new business prospects in 2015

The EDC engaged in 24 business development prospects in 2015.

$554,000,000 Estimated Potential Capital Investment

2,180 projected new jobs

Project Status:

21 in progress

2 canceled

1 approved and started

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 manufacturing, distribution, IT, value-added agriculture and unmanned aerial systems (drones).

GFMEDC takes over ProFusion

The EDC is now managing a program called ProFusion Speaker's Bureau which helps connect industry professionals to opportunities to speak to classes in higher education.

The format of a Pro Fusion presentation is a 20-minute presentation plus 20 minutes of Q&A.

The EDC support speakers with an optional public speaking coach - a great professional development opportunity.

The EDC facilitates matches to make sure that the presentation is relevant and timely. Most speakers are only asked to sp

eak one to two times in an academic year, so the time commitment is minimal, but the opportunity for impact is great.

The program was started by Emerging Prairie and will run alongside our Partners in the Classroom program which focuses on K-12. This summer, we will merge the programs into one.

Request a speaker or sign up to volunteer on our website. Sign up

EDC donates seed money to support a new MSUM MakerSpace

A $25,000 EDC donation to Minnesota State University Moorhead will help launch the school's first Makers Space. Complete with tools like 3D printers, laser cutters and sewing machines, the space will allow students, faculty and staff from a variety of disciplines to collaborate and create.

Makers Spaces are designed to encourage students to tinker, hack and network as they produce new products or develop new ideas.

The space also has the potential to offer opportunities for after school learning in the community.

The EDC's donation will provide seed money to get the space up and running.

EDC received the Champion Award at Emerging Prairie's annual 1 Million Thanks event

Jeff Volk, EDC Chair Elect, receiving Champion Award

The EDC Board was honored at Emerging Prairie's recent 1 Million Thanks event with a Champion award.

The award is given to a person or organization that supports and mentors the community.

Emerging Prairie's mission is to connect and celebrate the entrepreneurial ecosystem in Fargo Moorhead.

Fargo Moorhead Magazine Released - request your copies today!

Stories highlight Fargo Moorhead's quality of life, business climate, attractions, restaurants and must-do activities. Articles focus on how Fargo Moorhead residents enjoy the proximity to the lakes country; the cultural and economic impact of the region's colleges and universities as well as the area's growing business sectors and the local initiative to recruit, retain and develop the talent to support them.

Other articles highlight the quality-of-place amenities that attract people to the Fargo Moorhead region including high-quality

public and private schools, top-rated health-care facilities and a robust business climate.

For a free digital version of the magazine optimized for iPads, tablets and other mobile devices, visit

http://www.livability.com/nd/fargo/digital-magazine.

GFMEDC Annual Report

Our annual report is 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 strategic plan...

Here at the GFMEDC, we recently took a little time to review challenges and opportunities within the regional economic landscape. We developed a five-year strategic plan that provides a framework for five new priorities. You can see the complete plan on our website under What We Do.

GFMEDC Strategic Plan

Priority 1: Facilitate the Attraction of Talent to the Region

Priority 2: Encourage the Expansion and Increase the Awareness of Technical Training, Higher Education, STEM Education and Associated Career Opportunities

Priority 3: Advance an Advocacy Agenda and Communicate Economic Impact

Priority 4: Leverage Existing and Emerging Regional Industry Base and NDSU Research and

Technology Park resources for Business Retention, Expansion and Start-up

Priority 5:

Continue the Development of the Region's Entrepreneurial Eco-System

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.