Gov. Doug Burgum proclaims May 8-12, 2023, as Economic Development Week in North Dakota, recognizing the importance of strategic economic development to grow North Dakota’s economy and expand opportunity.
“Economic development is essential to the growth and prosperity of North Dakota,” North Dakota Department of Commerce Economic Development and Finance Director Rich Garman said. “Our economic developers work tirelessly to attract new businesses and industries to the state, support the growth of existing businesses, and create jobs. They are also committed to building vibrant communities and improving the quality of life for all North Dakotans.”
Economic developers work with numerous companies to find the ideal match for communities across the state. In 2022, North Dakota investments exceeded an estimated $44B, creating jobs and economic opportunity in the state.
Green Bison Soy Processing Plant near Spiritwood is one of those investments. A joint venture with Archer Daniels Midland (ADM) and Marathon Petroleum, this $350 million facility is currently being constructed and expects to be online by the 2023 harvest. The facility will process up to 150,000 bushels of soybeans per day and supply vegetable oil as a feedstock for Marathon Petroleum’s renewable diesel refinery in Dickinson to produce up to 75 million gallons of renewable diesel annually.
“We have been busy the past two years bringing tens of billions of dollars of potential projects to the North Dakota portfolio,” Garman said. “These projects cover the spectrum from ag, to energy, autonomy, technology, and manufacturing. We are taking a much more proactive approach and seeking out these opportunities.”
Economic Development Week is an awareness initiative created by International Economic Development Council based in Washington, D.C. to increase awareness of local programs that create jobs, advance career development opportunities, and improve the quality of life in communities everywhere. More information about Economic Development Week can be found at https://www.iedconline.org/pages/economic-development-week/.
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.