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What can I say. Unbelievable! Flabbergasted! Can you believe this? Nothing in all the years I have been doing these statistics has ever approached what I present here.

I understood post flood. I even understood what was happening last year. But this, it is hard to believe. We know that the state is putting a lot of money into UND with the law school, the eating hall, and the medical school, but commercial spending for new buildings and for repairs/remodeling is down by three fourths that amount (about a $24 million decrease to a $32 million increase) and to date, only one-half the way through the year, Grand Forks is nearly 45 percent ahead of last year in building permit value. Remember, last year set a record by 50 percent compared to the next closest year.

The East Grand Forks data is not ready yet. I will present it when I can, but what I want to do is combine several of these charts I have done lately involving Grand Forks specifically in comparison to other cities in the state, and the upper northern plains where that is possible.

I mean things like this,city sales taxes, and job growth. What is causing things like this? What do people know that maybe we are not aware of.

It may be that Grand Forks is entering into an exciting economic time. Remember, economist talk about leading economic indicators. What could be a better indicators than investing in large scale capital items?

 

Last year, 2013, the Grand Forks city building permit dollar value totaled just over $212 million. That was a record for the city. This year to date, that is January through April totaled nearly $79 million while in that record last year in the same time period the amount was not quite $24 million. That is, through April the amount is over three times last years figure at the same time.

Now with so many projects already started there is probable fewer projects that the contractors have the time to enter into yet this year, plus we don’t know what the weather holds for us. Still…? Imagine, especially if local contractors can get more help, or if contractors come in to Grand Forks to bid on contracts what this would do for the years totals.

True East Grand Forks is down by about 20 percent, but that was higher than normal last year because of one large commercial project. This year there is nothing there. That is what happens with one project in a small town. East Grand Forks building has been what we should expect as an average on a year to year basis.

Anyway, this is great for Grand Forks, and really the entire metro area. Things like this can go a long way towards making up for the lack of Canadian trade. I think we have a good year coming, or really already started, here in Grand Forks.

 

 

I am writing this short commentary to go with these statistics about the North Dakota economy. At the same time I am watching Mrs. Minever on TCM.

It reminds me of just how fortunate we are. How really fortunate we are. I hope we continue to know how to handle this good fortune. America has always had a real advantage in this world because of the natural resources in its lands, and in the wisdom of its people.

Look at where North Dakota was in the second half of 2013. Now, lets continue to do the same, and better, in 2014 and beyond not only in North Dakota, but across the United States.

 

Not much to write about concerning the jobs in the northern plains for December 2013 if you have been paying attention over the past three years. North Dakota leads the nation in the unemployment rate. That is, it has the lowest unemployment in the nation. As we enter the winter months there is a slight increase in the amount of unemployment. There are times it is nearly impossible to work under the situation that exists. We all know that and in fact it is expected.

Actually the surprising thing is that the amount of work that gets done gets done. We think the weather man overplays the wind chill, but we know how it is all but impossible to be out in those conditions up on one of those rigs.

So, we see a small increase in unemployment for two or so months and then as things moderate some through March we get moving again. Just watch.

So, we will have that seasonal slowdown and soon we will be back at it. So too will the ranchers with their early calves. Just watch. It is our history. They are a tough bunch whether it is calving, or fracking. Couldn’t be a better place for it to have happened.