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CONTENTS BUSINESS DEVELOPMENT PIPELINE FLOWS
GO GLOBAL AT THE GOVERNOR�S INTERNATIONAL TRADE CONFERENCE DEVELOPMENT FUND HELPED 40 PROJECTS LAST YEAR TOURISM DIVISION RECEIVES INTERNATIONAL AWARD EDND PLANS MEETING IN DECEMBER SEED CAPITAL SEMINAR PLANNED OCTOBER 30 IN FARGO MARK JENNINGS JOINS COMMERCE RESEARCH STAFF GOVERNOR PLANS TO HOST DINNER AT CORENET GLOBAL SUMMIT NORTH DAKOTA TO HOST ALUMNI-BUSINESS EVENT IN MINNEAPOLIS POLAR WARE ON THE GROW AGAIN DOC DIVISIONS HELP SPONSOR STATE BUSINESS CONFERENCE WHAT THEY�RE SAYING
BUSINESS DEVELOPMENT PIPELINE FLOWS
Many people have heard Department of Commerce Commissioner Lee Peterson�s analogy of the �pipeline.� He tells his vision of continually putting more and more names, leads and prospects in the business development pipeline until some of them begin to come out of the other end � in other words, locate in North Dakota.
The business development team has been hard at work to support this goal. Since July 1, 2001, they have conducted site visits for 18 different companies who have visited 27 North Dakota communities. In addition, eight requests for proposal (RFPs) have gone to more than 120 communities during the same time frame. The response rate from local developers to these RFPs is averaging about 50 percent.
�Two of the site visits have led to businesses locating in North Dakota. CBF, Inc., located in Fargo last fall and Specialty Export Productions, Inc., located in Hatton this past summer,� said Mike Strotheide, vice president of business development. �Given the intense competition for projects nationwide, that is an impressive statistic.�
According to Angelou Economics of Austin, Texas, there are between 300 and 1,200 relocation projects in any given year depending upon the economy. Nationwide, between 10,000-15,000 economic development groups compete for those projects.
GO GLOBAL AT THE GOVERNOR�S INTERNATIONAL TRADE CONFERENCE
Economic developers, local economic development board members and city and county officials will want to be part of the �Governor�s International Trade Conference � Global Business: North Dakota Style� Sept. 23-24 at Fargo�s Ramada Plaza Suites.
�A conference focusing on international trade will allow business leaders the opportunity to network with service providers and peers who are successful in the global marketplace,� said Gov. John Hoeven.
At Monday night�s banquet, Gov. Hoeven will recognize a North Dakota business as the North Dakota Exporter of the Year.
For a full conference agenda, visit www.exportnd.com. You can register for the conference online or call Export North Dakota in Fargo at 701-237-0986 or LAS International in Bismarck at 701-222-8331.
The North Dakota Department of Commerce, Export North Dakota and the North Dakota District Export Council are sponsoring the event. An Agricultural Products Utilization Commission grant is helping fund the conference. The North Dakota Manufacturer�s Extension Partnership will provide on-site and follow-up training.
DEVELOPMENT FUND HELPED 40 PROJECTS LAST YEAR
The North Dakota Development Fund last year invested $7.2 million in 40 primary sector businesses. Twelve of the projects are new, start-up businesses while the others are business expansions.
The information is found in the Development Fund�s annual report. The report covers the July 1, 2000, to June 30, 2001, fiscal year. The Development Fund is a program of DOC�s Division of Economic Development & Finance.
�The North Dakota Development Fund is a model of flexibility and creativity in fulfilling the gap financing needs of primary sector businesses. The success of the fund is commendable,� said Gov. John Hoeven.
According to Dean Reese, chief executive officer of the Development Fund, assistance is in the form of loans and equity investments in projects. �As a result of the fund�s ability to provide gap financing, total financing invested in these projects reached almost $40 million. For every dollar invested by the fund another $4.77 was invested from other sources allowing us to leverage more than $31 million,� Reese said.
Since its inception in 1991, the Development Fund has invested nearly $40 million in 241 companies. Rural communities have received $15.5 million of that amount.
Projects funded in the past year are in Bismarck, Colgate, Devils Lake, Dickinson, Fargo, Glen Ullin, Gwinner, Harvey, Hazen, Hebron, Jamestown, Killdeer, Maddock, Mandan, Minot, Napoleon, New Town, Rolla, Wahpeton and Watford City.
An eight-member board of directors appointed by the governor guides the Development Fund. Current board members are Tom Clifford, Grand Forks; Richard McKennett, Williston; Bob McNeil, Dickinson; James Laducer, Mandan; Terry Jorde, Cando; Judy Johnson, Bismarck; Tami Reller, Fargo; and Lee Peterson, Bismarck.
TOURISM DIVISION RECEIVES INTERNATIONAL AWARD
DOC�s Tourism Division received the Mercury Award, international category, in August from the Travel Industry of America. The award recognizes outstanding efforts in international travel marketing. The Tourism Division was chosen for its Lewis and Clark Direct Mail Box. The box contained a variety of North Dakota products presented in a way that increased awareness of the state�s role in the Lewis and Clark Trail. It was sent to 250 international tour operators to market North Dakota as a travel destination.
Tour operators said the tie to locally produced food and Lewis and Clark�s experiences in North Dakota set the piece apart from those submitted by other states and provided a different perspective of North Dakota as a destination.
The box was also sent to 250 domestic tour operators.
EDND PLANS MEETING IN DECEMBER
The Economic Development Association of North Dakota (EDND) will host their fall meeting in December to coincide with the pre-session of the North Dakota Legislature. The meeting is scheduled Dec. 3-4 at the Seven Seas Inn and Conference Center in Mandan.
DOC�s Division of Community Services will again help sponsor national caliber speakers for the education sessions. DOC staff will present break-out sessions on specific programs, highlight successes and outline the strategic direction each program will take in the coming year.
SEED CAPITAL SEMINAR PLANNED OCTOBER 30 IN FARGO
DOC is supporting and helping sponsor a Seed Capital Seminar on Wednesday, Oct. 30, at the NDSU Research Park in Fargo. The seminar�s host sponsor is the UND Center for Innovation.
A team of professionals from the National Association of Seed & Venture Funds will conduct this energetic, one-day seminar. They are the nation�s leading seed capital experts who know what it takes to succeed in this challenging endeavor. �Seed Investing as a Team Sport� will expand the know-how of entrepreneur investing, help participants locate other like-minded investors in this region and provide new tools to help optimize your investment dollars in entrepreneur ventures.
The same seminar sold out in Grand Forks this past May. Participation is limited to the first 45 private �angel� investors and the first 10 entrepreneurs, investor advisors or economic developers who have a history of supporting emerging entrepreneurs.
A $250 registration fee covers the cost of the workshop and resources, plus a continental breakfast, lunch and a networking reception to close out the day. For more information or to register, contact the Center for Innovation at 701-777-3132 or [email protected].
MARK JENNINGS JOINS COMMERCE RESEARCH STAFF
In August Mark Jennings joined Leigh Ann Huether, Jeff Quast and Cory Finneman on the Research Team.
As a research analyst, Mark�s primary responsibility will be in the development, collection, management and presentation of North Dakota state, region, county and community information. His background in sales, databases and Geographic Information Systems (GIS) is a perfect fit for his duties at DOC.
In addition to his primary duties, Mark will also assist with maintaining web sites, conducting business and industry due diligence and developing marketing materials. Mark can be reached at 701-328-7264 or [email protected].
GOVERNOR PLANS TO HOST DINNER AT CORENET GLOBAL SUMMIT
Gov. John Hoeven plans to host a private dinner for targeted business site selectors during the Corenet Global Summit in San Diego, Calif., this fall. The dinner will be held Saturday, Nov. 16. The Business Development team has begun inviting prime contacts to the event and hopes to have about 25 in attendance.
Corenet is one of the nation�s leading associations for site selectors who specifically work with businesses looking to relocate, expand or open new operations.
Gov. Hoeven hosted a similar event during the spring Corenet Global Summit in Salt Lake City, Utah. Within a week, DOC received two requests for proposals from site selectors who attended the dinner.
NORTH DAKOTA TO HOST ALUMNI-BUSINESS EVENT IN MINNEAPOLIS
Plans are underway to host an alumni event in Minneapolis-St. Paul on Friday, Nov. 8, at the St. Paul Hotel.
DOC is partnering with the Governor�s office, North Dakota University System, campus alumni associations, local economic developers, private businesses and others to sponsor this event. Recruiting North Dakota alumni as ambassadors for the state and potential business clients is virtually untapped. The Minneapolis-St. Paul market is a natural fit for North Dakota.
POLAR WARE ON THE GROW AGAIN
Polar Ware, a McClusky manufacturer of steel products for restaurants and medical facilities, added a third shift to its daily schedule in July. Lee Wolf, Polar Ware vice president, said sales increased 50 percent in the last year and he expects that trend to continue.
Wolf is often asked why the company relocated from Wisconsin in 2000. �We answer that it is the work ethic, the willingness to learn, the lack of absenteeism, the work adaptability to whatever the job takes, that makes this location work for us,� Wolf said.
Plant manager Tim James said he�s never worked with a better group. �We come to work on time here, we work hard and we go home tired,� he said.
� Reprinted, in part, from the McClusky Gazette, July 21, 2002.
DOC DIVISIONS HELP SPONSOR STATE BUSINESS CONFERENCE
DOC�s Divisions of Economic Development & Finance and Workforce Development will help sponsor the North Dakota Business Conference hosted by the Greater North Dakota Association (GNDA). �Beyond Boundaries� is the theme of the Oct. 27-29 conference to be held at Fargo�s Holiday Inn.
For information call GNDA at 701-222-0929 or visit www.gnda.com.
WHAT THEY�RE SAYING
�Local, state and federal agencies have worked in cooperation with one another to provide incentives enabling our company to be very successful in a very competitive industry.�
� Dennis Gladen, Imation