economy

Report shows North Dakota economy poised for growth

FARGO – The latest outlook from North Dakota State University researchers finds the state’s economy is poised for growth this year. The quarterly report indicates growth in salaries and wages, as well as a growing labor force, decreasing unemployment rates, strong tax collections and a rising gross state product. NDSU economics professor Jeremy Jackson says the report shows a reduced…

Minot Air Force base has $607 million economic impact

Minot AFB B-52MINOT, N.D. – A new analysis pegs the local economic impact of the Minot Air Force Base at nearly $607 million in the past fiscal year. The 2021 fiscal year economic impact is lower than fiscal year 2020, when the base contributed $622 million to the local area. The analysis says annual construction, services and other expenditures were…

North Dakota’s economy showing signs of recovery

FARGO – A new analysis says North Dakota’s economy is showing signs of recovery and growth. The quarterly outlook report done by North Dakota State University is predicting growth for wages and salaries, as well as a growing labor force, decreasing unemployment and strong total tax collections. The previous quarterly report, which was released last August, said the state economy…

Midwest economy index falls, but confidence rises

OMAHA, Neb. – A new monthly survey of business leaders in nine Midwest and Plains states shows the region’s economy remains healthy, and overall confidence in the economy over the next six months has improved. But about half of supply managers surveyed expect supply chain disruptions to get worse for the first six months of 2022. Firms reported that transportation…

Economy already better than before pandemic Bank of America CEO says at NDSU

FARGO, N.D. (KVRR) – During a conversation at North Dakota State University, Bank of America’s CEO sees a bright future for our country’s economy. Brian Moynihan said during Senator Kevin Cramer’s speaker series “The Bully Pulpit” at Richard H. Barry Hall the economy is the size it was before the pandemic. He added Bank of America’s experts estimate it to…

North Dakota’s economic outlook improves as COVID-19 wanes

BISMARCK, N.D. – A new quarterly report shows North Dakota’s economic outlook is improving as the coronavirus pandemic begins to wane. The second-quarter outlook from North Dakota State University shows a growing labor force, an increase in gross state product and steady total tax collections. The report found some difficulties in the labor market, where wages and salaries are projected…

2020 ‘pretty terrible year’ for North Dakota oil industry

BISMARCK, N.D. – North Dakota’s top oil regulator says 2020 will be known for the rapid collapse of crude prices in the spring, leading to dismantled rigs and idled wells. State Mineral Resources Director Lynn Helms called it “a pretty terrible year for the industry.” Oil companies filed for bankruptcy and thousands of people in North Dakota’s oil patch lost…

Confidence in Midwest economy drops in survey

OMAHA, Neb. – A new monthly survey of business leaders in nine Midwest and Plains states suggests faltering confidence in the region’s economy. After climbing every month since bottoming out in April, the overall index of the Creighton University Mid-America Business Conditions survey fell to 69.0 in November from October’s 70.2. Any score above 50 on the survey’s indexes suggests…