GFMEDC Smart Brief

Fargo Moorhead MSA has an unemployment rate of 3.2% (not seasonally adjusted) compared to the U.S. unemployment rate of 5.1%. To see the GFMEDC's latest economic indicators, please check out the following link.

April Economic Indicators

President's Report: FM Diversion is critical to economic growth and stability

I've been in Fargo for just over four years, and I have seen so much change in the Greater Fargo Moorhead area, it's been incredible. The one thing that hasn't changed is the process and discussions regarding the FM Diversion Project.

I know an incredible amount of progress has been made, but in reality, the project has not been finalized. I keep hearing the same things over and over again; there must be a better way, and we are asking too much of our downstream partners.

The bottom line is our region and state cannot afford to have Fargo face a catastrophic flood! Losing Fargo Moorhead to a flood would have a devastating effect on our economy which would be felt for decades. While waiting for the inevitable flood, real estate prices would be affected and flood insurance spikes could cause significant slowdown in development and create economic chaos for some existing home owners. We also face a potential loss of primary-sector companies. Companies cannot afford to stop their manufacturing and if threatened would need to seriously consider relocating their company. An additional challenge is recruiting. Over the years, we have heard two questions from site selectors and company representatives considering locating a company here. Those two questions focus on available workforce and threat of flooding.

The costs of the FM Area Diversion project will continue to increase due to inflation at a rate of $60 million a year if we do not start construction this year. The Diversion Authority is set to release its financial plan May 26. Their financial plan will show how the $2.1 billion project will be funded through the use of local sales tax, state funds, and federal appropriations.

The time has come that every business in the region needs to make their voices heard and support the FM Diversion and get it moving as quickly as possible! The bottom line is we can't afford the alternative!

Thank you for your support of the EDC and economic development

The GFMEDC recently highlighted our 2015 activities and upcoming 2016 initiatives during our annual meeting. Four speakers helped our organization highlight workforce, business development and entrepreneurism. More than 240 people attended our event.

"In 2015 our community came together to research and understand our major challenges and opportunities. As we implement new programs, we are better positioned to respond to market needs. Despite a downturn in agriculture and oil, our local economy is strong. That's due to our sector diversity. We will continue to diversify by recruiting new companies and supporting entrepreneurial activity, said Jim Gartin, GFMEDC President.

In 2015, the GFMEDC worked on several foundational initiatives.

The GFMEDC met with more than 139 primary-sector companies to gauge the business climate, offer support, facilitate connections and provide information.

The GFMEDC has continued or developed roughly 60 initiatives with examples ranging from K-12 education support to a Smart Move Sector Summits. The summits focus on a specific sector bringing together education and industry to work on ways to fill gaps and build on strengths.

The GFMEDC has taken an active role to support and foster entrepreneurism in the community. We were one of the key organizers of Startup Weekend.

The various initiatives support business growth, encourage partnerships and align education with industry.

Forum article

Thank you, Brad Schlossman

A huge thank you to our outgoing board member and previous board chair, Brad Schlossman, West Acres Development.

EDC builds relationships at world's largest UAS (Drone) trade show

The EDC was one of several regional organizations partnering with the ND Department of Commerce at the Association for Unmanned Vehicle Systems International (AUVSI) trade show recently in New Orleans. It is the largest trade shows in the world specifically dedicated to the unmanned aerial vehicle industry. More than 8,000 industry leaders and profess

ionals from 55 countries came together to discuss the latest innovations in the unmanned industry. Roughly 600 cutting edge companies representing more than 20 industries exhibited during the show.

Mark Vaux represented the EDC for the second year at AUVSI.

"North Dakota continues to be the leader in the UAS industry. The opportunity to attend this show is invaluable to us as we continue to focus on developing and nurturing relationships with companies in one of our targeted industries. We were able to reconnect with companies we have visited with in the past as well as establish some new relationships, said Vaux."

Additional Fargo representative companies included Botlink, Packet Digital, Smart C2, and NDSU.

GFMEDC Annual Report

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

Growth Initiative Fund approves its first Flex PACE Licensed Child Care Center loan

The Growth Initiative Fund (GIF), under the management of the GFMEDC, approved a Flex PACE community interest buydown Flex PACE loan to assist in the opening of a new licensed child care center, Bright Futures Discovery Center. The GIF's participation with a low, deferred interest loan allows for the borrower to obtain matching interest buydown funds from the state, temporarily reducing the borrowers' rate to 1%.

Traditionally, PACE and Flex PACE participation in Cass County was available to primary-sector companies. A primary-sector company is one that through knowledge or labor adds value to a product, process or service. A significant portion of their revenue comes from outside the state and region. In late 2015, GIF expanded beyond primary-sector companies to include Bank of North Dakota's Flex PACE Affordable Housing and Flex PACE Licensed Child Care Center programs.

New tool allows EDC to provide in-depth data

Recently the GFMEDC invested in a new research tool that provides a variety of basic demographic information. The economic modeling tool will allow us to better understand the economic landscape surrounding workforce including a snapshot of various occupations. For example, you can see how many software developers are located in the region. You can also research educational programs.

The tool allows us to support business development, workforce attraction and development and serve as a resource to partners and investors with data needed to understand our region's economy and demographics.

For more information or to request data, contact Project Manager, Martha Leidholm at marthaleidholm@gfmedc.com or 701-364-1900.

North Dakota Women's Startup Weekend

The GFMEDC was proud to sponsor the third annual North Dakota Women's Startup Weekend held in late April.

The EDC's Martha Leidholm participated in the weekend's events. Leidholm's group, Fearless, pitched the concept #MakeFargoFearless. Fearless partners with martial arts teachers in the FM area and offers classes in self-defense for men and women on a sponsorship basis. The judges awarded them the "Just Do It" award.

The 54-hour event included networking and learning. Participants pitch ideas on Friday night. Groups are formed around the most popular ideas and each team spends 54 hours taking their idea from concept to a potentially viable startup company.

For more information on Startup Weekend, contact the GFMEDC or Emerging Prairie.

Fargo Moorhead Magazine - 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.

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.