While touting the state’s relatively healthy economy, which many people attribute to oil development on the Bakken formation, Duggan worked in the forecasts showing a slightly higher chance than 50/50 that the recession will hit here in the first quarter of 2009.

But even then, it sounds like ND is in good shape compared to the rest of the nation.  From the article:

“It’s certainly not a guarantee,” said David Flynn, a UND professor who authored the report. “It’s saying the risk factors are higher than they’ve been in quite a long time.”

Flynn said if the state does experience a recession sometime next year, it’s likely to be a short-term dip rather than a prolonged one.

Still, “we are in a very enviable position right now,” he said.

The energy industry does play a huge part in our healthy economy, and agriculture always will, but I also think the wisdom of ND’s banking system in lending purposes helped keep the real estate crisis at bay.  Even the auto industry is doing well here right now.

And so, even though the national financial situation is in the back of our minds, we shop.

From the article:

(VanMiddlesworth) “I don’t think it’s the economy as much as it is the national media that’s spooking people.” And Van Middlesworth stresses again locally real estate is still a good investment…

For the first time ever the Bismarck Mandan Board of Realtors is running ads stressing the strong local housing market. They say it’s to combat the national media.

Monson and Hauge maintain that industrial hemp (used in products ranging from lotions to clothing) is not the same plant as marijuana.

It’s not that the economic downturn hasn’t brushed North Dakota.  Major manufacturing companies like Bobcat are taking safety measures like shutting down their plants earlier in the year and asking some employees to take early retirement. 

But overall, the Bismarck area economy is holding its own.  From the article:

North Dakota’s unemployment numbers continue to hold steady or, in some areas, decline. After the nation posted its highest unemployment rate in 14 years at 6.5 percent, North Dakota’s labor statistics boasted a 2.8 percent unemployment rate, with 4,000 more jobs added in September than in the previous year.

In Burleigh and Morton counties, that’s 2.4 percent and 2.7 percent unemployment, respectively. Statewide, there are about 16,000 open jobs.

The program, called “Career Conversations,” was launched on October 31.  From one of the earliest press releases from Gov. Hoeven’s office:

One of the main tools used to reach students will be interactive webcam “career conversations” between students in a classroom and workers in high wage/high demand occupations. Gov. Hoeven helped demonstrate this program today with Mandan High School students who conversed via webcam with service technician Patrick McConnell who is employed with Fargo-based Titan Machinery. The goal of the career promotion program is to provide current information about careers that have a strong future in North Dakota to high school students and adults who are advising them.

Hoeven said in order to meet North Dakota’s workforce needs, the state is working to attract people from out of state and to retain residents who already live here. Career conversations is an effort aimed at retaining young North Dakotans.

The Magic City recently completed consruction on North Broadway, one of the main thoroughfares and, if I remember correctly, a very busy street.  Gov. John Hoeven and Department of Transportation Director Francis Ziegler both attended the ribbon-cutting ceremony. 

This article addresses the possibility of future industrial growth in Minot, and this one announces Sen. Kent Conrad’s hopes that the Minot area could play a critical role in overseeing Air Force weapons storage nationwide. 

Not a bad week for Minot.

In these difficult economic times, it’s encouraging to see a local North Dakota business doing so well.

Williston is in the far northwest corner of the state in the Bakken oil area.  The energy industry is booming there right now.  According to the article, Williston State College offers an oil training program and the population keeps growing.  This is a great article for getting an all-over feel for what’s currently happening in one of the hottest areas for oil drilling in North Dakota. 

Business Watch also has a new section on the ND energy industry, including an article about how the booming alternative energy industry is creating interesting new careers.

Not to mention it’s a great resource for North Dakotans who want to get to know their home state better.  Kudos to Rick and Andrea Collin and Smoky Water Press for this terrific idea.