FMWF is not just people friendly; we’re also business friendly! A strong economic climate paired with an unmatched entrepreneurial spirit, in what some have dubbed the “silicon prairie,” makes making a living here a great bet. Oh, and did we mention that our community is so easy to navigate that commuting is a breeze! So, let’s get to work.
Local labor statistics
Total regional employment: 152,829
Jobs grew by 5,310 over the last five years and are projected to grow by 9,448 over the next five years.
From 2014 to 2019, jobs increased by 3.6% in Fargo, ND-MN from 147,519 to 152,829.
Unemployment rate: 2.2%, decreasing from 2.69% five years prior, as of July 2019.
A look at workforce efforts in our region
Workforce remains a priority among The Chamber and various other economic development and community groups in the region and beyond. The Chamber is working to do our part in tackling workforce issues through local and statewide advocacy efforts and the Fueling Our Future joint venture with the Economic Development Corporation (EDC).
The metro is big on entrepreneurship. A young and innovative workforce has led to a boom in new startups in recent years, and is only picking up steam. Add in organizations like Emerging Prairie, SCORE, the Greater Fargo-Moorhead Economic Development Corporation and the Small Business Association encouraging entrepreneurial efforts, and much of the activity is more grassroots.
Efforts like 1 Million Cups offers opportunities for entrepreneurs to gather, pitch ideas and collect feedback, and the Technology Incubator at the NDSU Research and Technology Park continues to nurture startup businesses. There are even several new programs to encourage young girls to get involved in STEM.
In 2005, the city of Fargo received designation as a foreign trade zone, an area that is designated for duty-free entry of goods. A foreign trade zone encourages more commercial activity in the region, allowing manufacturers to produce products in the area without having to pay U.S. customs duties.
Minnesota has one of the most generous foreign royalty deductions in the country. Minnesota corporations that license technology to foreign corporations can deduct 80% of the foreign royalties they receive if the payer is a member of the unitary group.
How we can help
We also want to support area business owners and budding entrepreneurs! We can act as a connector, and even if we don’t know the answer to an issue in your industry, we probably know someone who does! Let us know what you need help with, and we’ll do our best to help you reach an organization, individual or program that can step in.