January 2013: Business Indicators

The number of active oil drilling rigs in the state continues to decline as older, less efficient rigs are replaced. However, despite the declining rig count, oil production and the number of producing wells continues to climb. The number of wells increased nearly 30 percent in the past twelve months; the volume of oil produced… [More…]

Rapid City Conference Highlights Opportunities in Bakken

RAPID CITY, S.D. ­­- Development of the Bakken oil patch is a long-term play, and it’s not too late for businesses to participate in the booming economic growth in western North Dakota, according to former Gov. Ed Schafer. Schafer, who was North Dakota’s chief executive from 1992 to 2000, serves on the Board of Directors… [More…]

Building the Roughrider State

The Bakken Continues to Develop North Dakota’s powerhouse economy, fueled by the millions of barrels of oil gushing out of the Bakken formation, is capturing the attention of the world. What is less obvious is the construction that has both spurred and resulted from the oil boom — and which is sorely needed to keep… [More…]

Nakota Development opens first Value Place franchise in burgeoning Bakken region of North Dakota

WILLISTON, N.D. (October 23, 2012) – Nakota Development Company, a full-service real estate development and management company based in Jacksonville, Fla., officially opened its first Value Place location here. Nakota Chairman/CEO Art Cahoon officiated a Sept. 25 grand opening ceremony attended by Value Place corporate executives, staff of the new property and representatives of the… [More…]

Getting the Goods: Stocking North Dakota’s Shelves

Getting goods to a landlocked rural state where population centers are widely scattered can always be considered a challenge. But given North Dakota’s rapid expansion of business and population, challenges have grown along with the state’s exponentially expanding industries and residents. When it comes to importing goods into the state, the goal is to have… [More…]

Elected Officials

Rick Berg Congressman (R) If you had the power to change one law, what would it be? The simple fact remains: the massive government takeover of healthcare that President Obama forced on the American people is not the right approach.  Obamacare raises taxes on small businesses that are vital job creators.  Seventy percent of North Dakotans did… [More…]

October 2012: Around the State

Target Logistics Launches Mobile Crew Camp Division Target Logistics has launched a brand of mobile crew camps. The crew facilities are designed for operations that relocate frequently and need rapidly deployed housing solutions. The units are self-contained, movable and easy to permit and are expected to result in greater productivity, lower attrition and fewer onsite… [More…]

October 2012: Business Indicators

Oil production, an important driver of North Dakota’s economy, continues to climb. Although rig counts have dropped in recent months, production continues to reach new record levels. August production topped 700,000 barrels per day, an increase of nearly 60 percent in the past twelve months. The impact of the oil industry on the labor market… [More…]

The Living Challenge: North Dakota’s Residential Market

There’s no place like home, and any kind of move underscores that sentiment. But having a roof over your head is part of fitting into a new community and in North Dakota the definition of just what that roof is, and how easy it will be to get under it, is changing. Crew camps, one… [More…]

September 2012: Around the State

St. Alexius Announces Clinic Expansion in Mandan Due to increasing demands, St. Alexius is moving and expanding the healthcare organization’s Mandan operations.  The new 22,000 square foot healthcare facility is expected to open in 2014 and cost around $8 million to complete.  The clinic will offer of imaging, laboratory and select rehabilitation therapy services as… [More…]

September 2012: Business Indicators

North Dakota’s economic growth continues at an unprecedented pace. Our unemployment rate is the lowest in the nation at a mere 3 percent, compared to the national average of 8.1 percent. In some areas of North Dakota, specifically those impacted by booming oil development, a severe labor shortage exists. For example, in Williston, the unemployment… [More…]

Banking on a Boom: North Dakota’s Banking Industry

Banks move in cycles just like any other business, flexing and changing with the boom and bust cycles of regional economies. North Dakota’s current boom economy with oil, natural gas, housing and construction is presenting banks with challenges – some of them quite welcome, some of them frustrating. The Banking Environment: “Hello, My Name Is” For… [More…]

Land Issues: Developing the Amber Waves of Grain

It was Will Rogers who famously recommended that people invest in land because “they ain’t makin’ any more.” Well, they ain’t makin’ any more in North Dakota, either, which is why legislators and residents are grappling with a variety of issues relating to its limited supply of what is, in many cases, highly profitable land.… [More…]

August 2012: Around the State

Mercy Medical Center Receives Grant to Expand Patient Access; Disability Health Project Receives Three-Year Federal Grant; Companies Develop Plans for New Refineries; Housing Agency Pledges $4.25 Million to Incentive Fund Projects; Target Logistics Completes Stanley Hotel; BenchMark Energy Corporation Extends Research Agreement with UND; North Dakota State University Receives Endowment from Gate City Bank; Valley City State University’s Online Master of Education Program Ranked “Best Buy” [More…]

August 2012: Business Indicators

The national economy continues to languish between recovery and recession. Employment is stable, but lacks the robust growth needed to move the economy forward into recovery. Unemployment is down from a year ago, but remains above 8 percent. Consumer confidence is lacking. Retail sales are up modestly over a year ago, but down in recent… [More…]