U.S. employers added just 194,000 jobs in September, a second straight tepid gain and evidence that the pandemic still has a grip on the economy with many companies struggling to fill millions of open jobs. Friday’s report from the Labor Department also showed that the unemployment rate fell sharply to 4.8% from 5.2% in August.
Citing a shortage of contractor shop lots for industrial development the Grand Forks Planning and Zoning Commission gave preliminary approval to a plat for land near DeMers and South 50th Street. Kost Materials has purchased land formerly used by Wells Concrete for smaller industrial development. As part of the plan South 50th Street will be connected between Demers Avenue and 10th Avenue South.
East Grand Forks is looking to tap into the Border Cities program to provide a tax break for Northern Valley Machine. The council will review an EDA recommendation to provide a credit of $120,000 dollars over a three year span. A staff report suggests the credits will help retain 68 plus jobs and provide resources for Northern Valley to invest in future equipment needs.
Home sales in Grand Forks / East Grand Forks edged slightly higher in September. There were 87 single family homes…townhomes…and condos that exchanged hands. That compares to 82 during the same month one year ago. According to the Grand Forks Board of Realtors the average sales price was $258,204.
The ND Agriculture and Diversity Development (ADD) Fund is set to accept applications that will support new or expanding value-added-agriculture businesses. The proceeds may be used to purchase or lease equipment, establish a value-added agriculture business, or expand an existing value-added agriculture-business. Grants must not exceed $2.5 million. The interest rate buydown is up to $500,000 and the loan amount allowed is determined by the ADD Fund Committee.
John Paczkowski has been named State Engineer for the Department of Water Resources. The Department of Water Resources (DWR), formerly the ND Water Commission, was restructured and renamed as a result of the successful passage of House Bill 1353 during the 2021 legislative session.
The 15th UAS Summitt begins this week at the Alerus Center. Speakers include U.S. Senators John Hoeven and Kevin Cramer; North Dakota Lt. Gov. Brent Sanford; Col. Jeremy Fields, vice commander of the 319th Reconnaissance Wing at the Grand Forks Air Force Base; Jane Bishop, general manager of global surveillance with Northrop Grumman Corp.; and Rear Admiral Lorin Selby, chief of naval research, Office of Naval Research. The event runs October 13-14.
The North Dakota Department of Commerce announced today that two companies were approved a total of $1.1 million in loan and venture funds through the North Dakota D
- Lucit LLC, a software solutions company, received $600,000 in convertible debt for capital to assist with hiring employees.
- 701x Inc., an agricultural technology manufacturer in Fargo, received $500,000 in convertible debt for working capital to help the company complete their product development and commercialization.
General Motors plans to cash in as the world switches from combustion engines to battery power, promising to double its annual revenue by 2030. To get there it plans an array of new electric vehicles, profitable gas-powered cars and trucks, and services such as an electronic driving system that can handle most tasks on the road.
Toy companies are racing to get their toys onto store shelves ahead of the holidays as they face a severe supply-network crunch. Toymakers are feverishly trying to find containers to ship their goods while searching for new alternative routes and ports. Some are flying in the toys if they can get space on planes instead of shipping by boat to get the goods on shelves well.
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