A well-written article published at Fargo Phantom stated that while much of the nation is seeing an economic downturn, North Dakota is in the middle of an economic boom.

From the article:

Don’t look for an economic downturn in North Dakota: In fact, the state is holding job fairs in other states to try to fill 13,000 open jobs.

And:

Amid concern that the US economy is slipping and sliding into a recession, some states and many cities expect to continue to grow. In some cases, the growth is the result of having the right industries or resources at the right time. In other cases, it is the result of savvy and diversified economic development that appears to be shrugging off the recession blues. In virtually all cases, areas of growth appear to have avoided the huge run-up in housing prices and subsequent collapse.

The article indicated that the state’s economic success is due largely to diversification. 

North Dakota has always been an agricultural state, and agriculture will probably remain the top industry here…but it isn’t the only industry; not anymore.  The creation of a state Department of Commerce has allowed the state to develop a strong tourism industry.  Manufacturing, information technology, and the energy industry all play strong roles now, too.  The energy industry is especially vibrant right now, with several new oil wells being drilled in the Bakken area. 

The state has also invested in programs that reward creative entrepreneurial thinking like Innovate ND.

While we owe much–maybe even most–of the state’s current economic boom to the oil industry, the other industries do play their part.

Again from the article (italicized parentheses added):

North Dakota is one of only three states to gain manufacturing jobs, he (Gov. John Hoeven) says. Behind that gain is a push to export – up 34 percent in 2007 over 2006, the fastest rate of growth of any state in the United States. The state has also seen a big rise in energy investments in coal, oil, natural gas, and renewables. On top of that, North Dakota merchants are profiting from Canadian tourists, who are crossing the border to shop with their strong currency.