Business Climate
There is no doubt about it: Business is booming in Fargo Moorhead West Fargo, with an incredibly low unemployment rate and abundant job opportunities.
Labor Statistics
| Local, State & National Market | Employed | Unemployment Rate |
|---|---|---|
| Fargo Moorhead MSA | 134,461 | 2.2 |
| Minnesota | 2,881,593 | 3.4 |
| North Dakota | 416,683 | 2.4 |
| United States | 151,977,000 | 4.8 |
Businesses and Employees by Industry
| Industry Description | # of Businesses | # of Employees |
|---|---|---|
| Forestry, fishing, hunting & agriculture support | 14 | 44 |
| Mining | 4 | 11 |
| Utilities | 8 | |
| Construction | 866 | 7,643 |
| Manufacturing | 237 | 9,617 |
| Wholesale trade | 464 | 7,977 |
| Retail Trade | 826 | 15,908 |
| Transportation & warehousing | 316 | 4,109 |
| Information | 98 | 3,068 |
| Finance and insurance | 472 | 8,364 |
| Real estate & rental & leasing | 348 | 1,763 |
| Professional, scientific & technical services | 553 | 6,294 |
| Management of companies & enterprises | 54 | 2,997 |
| Admin, support, waste mgt, remediation services | 340 | 6,124 |
| Educational services | 40 | 3,379 |
| Health care & social assistance | 639 | 21,278 |
| Arts, entertainment & recreation | 25 | 2,091 |
| Accommodation & food services | 486 | 12,188 |
| Other services (except public administration) | 662 | 4,443 |
| Unclassified establishments | 7 | 3 |
Entrepreneurship
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, the Greater Fargo-Moorhead Economic Development Corporation and the Small Business Association encouraging entrepreneurial efforts, and much of the activity is more grass-roots.
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.International Business
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.
Commercial Real Estate
| Classes | Downtown | Suburban |
| Class A | $20.00 per square foot | $23.00 per square foot |
| Class B | $14 per square foot | $18.00 per square foot |
Industrial Space |
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Looking For a Job?
Check with these great resources as well as the Employment Services category in the Business Directory to find a great job.
Better Fargo Jobs
Greater Fargo Moorhead Economic Development Corporation
Job Service North Dakota
Jobs HQ
Minnesota Department of Employment and Economic Development
North Dakota Oil Jobs
Space For Your Business
Whether your organization is hosting a large conference, a department meeting, or a fund-raiser, several options in the community (and nearby) offer great spaces to inspire ideas and collaboration.
Here is a helpful list of resources to get you started on the journey to finding the perfect space for your business. We’ve broken it down by size categories so you can easily see which facilities could best accommodate your event. You can also check out the member businesses under the following categories: Event - Conference Center and Event & Meeting Planning in the Business Directory.
