When the federal government stepped in to save Fannie May and Freddie Mac, I was curious–more so when they saved AIG.   North Dakota has a relatively strong economy right now.  Will the government interventions affect us negatively?

According to this article published in Bismarck Tribune, North Dakota insurance commissioner Adam Hamm said AIG companies in the state are running normally.  I’m sure that’s a relief to many people, but this Minot Daily News article indicates that our more rural folks feel more concern about the national economic problems than more metropolitan North Dakotans.

Yet as the Minot Daily News article points out, even though people across the state are feeling the finacial squeeze, overall things aren’t looking so bad.  From the article:

A plus for North Dakota’s economy is that many people feel that a second job is available if they need it, she (Deb Nelson of the Village Family Service Center in Minot–italicized area added) said. In addition, there’s financial counseling through agencies like The Village, she said.

A brighter picture emerges from a separate report showing North Dakota’s three largest cities improved their ranking in the 2008 Milken Institute Best-Performing Cities Index. The index measures how well cities are creating and sustaining jobs and economic growth. The components include job, wage and salary and technology growth.

From their 2007 rankings, Bismarck rose from 42nd to 15th, Fargo moved from 36th to 17th and Grand Forks went from 90th to 50th.

“The significant improvement in these rankings is evidence of North Dakota’s strong economy, diverse community offerings and good quality of life,” North Dakota Commerce Commissioner Shane Goettle said in a prepared statement. “It is also strong evidence that local leaders and business people are working hard to support a growing economy that is creating new jobs while the opposite is true in many other states.”

The foundation poll showed that despite financial worries, North Dakotans remain optimistic about their communities and are willing to help others who are struggling. They also are more positive about economic conditions than the nation as a whole.