GF Business News

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It was only a few months ago that interest rates were marching higher and bearing down on everyone from home buyers to stock investors. But rates began easing early this year after the Federal Reserve opened the door to a slower pace of rate increases. The Fed this week surprised the market when it said it may not raise rates at all during 2019.

Probitas Promotions and Daydream Specialties have assumed ownership of Trojan Promotions. The estate of Troy and Jessica Nelson worked out the deal to purchase the company. The Nelson’s died while visiting San Diego earlier this year. Probitas Promotions and Daydreams Specialties will

continue to operate individually while integrating the Trojan employees and clients into their businesses.

Edgewood will partner with Altru Health System for on-site medical services at its new residential senior housing complex planned for south Grand Forks. The development of townhomes…patio homes…independent…and assisted living apartments will be located on 40 acres of land between 40th Avenue South and 47th Avenue South. Altru will operate a clinic as well as pharmacy and therapy services. Ground breaking is tentatively planned for mid-to-late summer.

North Dakota exporters achieved positive growth in 2018 despite uncertainty within international markets. Recently released statistics from the U.S. Census Bureau show that North Dakota's tracked exports were up overall by $1 billion for a total of $6.8 billion in 2018. This represents an increase of 16.2% over 2017. Petroleum contributed to about three quarters of the growth.

A monthly survey of rural bankers in parts of 10 Plains and Western states shows bankers are losing confidence in the future of the region's farm economy in the wake of falling farm income and rising floodwaters. Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.

Despite the loss of a substantial amount of wildlife habitat collective spending by hunters and anglers is larger than previous estimates and remains an economically important industry in North Dakota. Hunting and fishing contributed $2.1 billion to the state’s economy according to the NDSU study. The typical (on average) resident hunter was 49 years old, hunted 7 days per year in North Dakota, lived in a community over 2,500 population, and had a gross household income of over $150,000.

A spirits industry trade group says the tariff-induced hangover for American whiskey producers became more painful in late 2018. The Distilled Spirits Council said Thursday that a downturn in American whiskey exports accelerated at the end of last year, especially in the European Union - the industry's biggest overseas market. It says overall exports of bourbon, Tennessee whiskey and rye whiskey fell 11 percent during the second half of 2018.

The City Engineers Association of America recently honored East Grand Forks with its 2018 Project of the Year Award. The award targets the six year planning and construction of the Interconnect Wastewater Project with Grand Forks. The Interconnect allows at a rate of flow from East Grand Forks to Grand Forks of 1.2 million gallons per day. The project price-tag was around 31-million dollars.

Starbucks says it plans to test both recyclable and compostable cups over the next year. The company also said it plans to redesign its stores as it adapts to increasing mobile pick-up and delivery orders. Changes will vary by location. For example, in a neighborhood with three Starbucks cafes - one might be changed to an express format while another offers delivery.

Arkansas-based Tyson Foods is recalling more than 69,000 pounds (31,297 kilograms) of frozen, ready-to-eat chicken strips because they may be contaminated with pieces of metal. The products have the establishment number "P-7221" on the back of their packages.

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