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Welcome to our one-stop hub for all Commerce highlights! In an ever-evolving business landscape, staying ahead of the curve is paramount. This is your go-to source for the latest news, trends, insights, and highlights from your Commerce team. Whether you're a local business, tourism partner, community leader, or simply someone intrigued by the dynamics of global trade, we've got you covered. Your journey to staying up to date starts here.
July 10, 2024
Teigen Highlights North Dakota's Growth
Commerce Commissioner Josh Teigen delivered a keynote address at the Jamestown/Stutsman Development Corp.'s annual meeting on June 26. His overview celebrated North Dakota's economic and population growth, showcasing a substantial increase in capital investments from $2 billion in 2020 to a staggering $64 billion today. Teigen highlighted North Dakota's strategic advantages, including its rich natural resources and the burgeoning appeal of the state as a destination for businesses and residents alike.
Teigen's address wasn't just a reflection of statistics; it underscored the pivotal role of strategic planning and development in shaping North Dakota's future trajectory. His presence at the meeting was instrumental in affirming Commerce's steadfast commitment to fostering innovation and progress across the state. By emphasizing the state's robust economy and its dynamic, expanding workforce, Teigen illustrated how North Dakota stands at the forefront of economic vitality and opportunity in the region. His insights into ongoing initiatives driving population growth and economic diversification highlighted the pivotal role of proactive governance and community engagement in North Dakota's continued prosperity.
Join the North Dakota Global Talent Summit 2024
The North Dakota Office of Legal Immigration invites you to our inaugural North Dakota Global Talent Summit on August 21, 2024, in Bismarck. Learn from top experts in immigration recruitment and law, discover tailored recruitment opportunities, and gain valuable tips on retaining international students and foreign-born workers. Whether you’re an employer or a legislator, this event will provide essential insights and resources to support a more inclusive and dynamic workforce. Don’t miss this chance to network with like-minded professionals and stay ahead in the global talent race!
Teigen and Japanese Delegates Strengthen Economic Ties
Commerce Commissioner Josh Teigen, Consul General of Japan in Chicago, Jun Yanagi, and JETRO Chicago Executive Director Tomofumi Nishizawa sat down to discuss a variety of partnership opportunities, largely stemming from the Governor’s visit to Japan in late 2022. The two discussed a variety of industrial projects, of which are currently confidential to the public, but encompassed energy, agriculture, and manufacturing. The diplomatic relationship between Japan and North Dakota has never been stronger, and this visit helped further solidify the mutually beneficial economic partnerships that are in the pipeline and underway between the State of North Dakota and Japan and its companies.
Register for the Main Street ND Summit
Community leaders! The Main Street ND Summit in Watford City (August 27-29) is your chance to collaborate, learn, and be recognized for your community's achievements! Network with experts, discover new ideas, and celebrate at Watford City's planned Summit events. The Summit coincides with the Governor's Main Street Awards. Does your community's project qualify? Nominate it and be a part of the celebration! See all award categories here.
Research Confirms Record Visitation to North Dakota
North Dakota tourism is thriving! Visitation reached a record 25.6 million in 2023, with visitor spending exceeding $3.3 billion. Day trips are a growing trend, with 17.8 million visitors enjoying the state's offerings without overnight stays. Cass County remains the leader in visitor spending, while all counties saw an average growth of 8.8%. However, the hospitality industry is still recovering from pandemic closures. Despite this, tourism's positive impact extends beyond the industry, generating over $307 million in tax revenue, resulting in an annual savings of $960 per North Dakota household.
Attention CDBG Grantees! Update Your Data for Low-Moderate Income Activities
The Housing and Urban Development (HUD) has announced its update to the data on low- and moderate-income communities. Effective August 1, 2024, new low- and moderate-income summary data (LMISD) based on the 2016-2020 American Community Survey (ACS) is now available. As of August 1, 2024, to qualify any new low- and moderate-income area (LMA) activities, Community Development Block Grant (CDBG) grantees should use this new data.
The updated spreadsheet of Low and Moderate Income by Community can be found on Commerce’s website. To verify you are seeing the correct spreadsheet you must clear your cache browser. As a reference check, the City of Abercrombie is now 26.40%.
Further questions can be directed to CDBG staff 701-328-5300, or dcs@nd.gov.
Archived Highlights
Commerce Newsletter is the bi-monthly e-newsletter from the North Dakota Department of Commerce.
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