Business News: GF home sales…naming rights & beer

The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported in a slight downgrade from its initial estimate. The expansion in the nation’s gross domestic product — the economy’s total output of goods and services — was down from a red-hot 4.9% from July through September.  (AP)

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Home sales in Grand Forks / East Grand Forks posted their highest tally for February since 2021.  A total of 40 homes…townhomes…and condos were sold last month.  That compares to 24 last year and 35 in 2022.  The average sales price was $312,684.

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The Grand Forks Park District may have found a new name for the Grand Valley Development Park on the city’s south side.  Park leaders say the site would be known as Crary Park under a naming rights agreement with Crary Development.  The GF Park Board will review the $500,000 dollar naming rights agreement this week.

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Best Buy’s shares rose as the nation’s largest consumer electronics chain posted a smaller-than-expected sales decline for the fiscal fourth quarter, signaling that the bottom of spending on gadgets may be in sight.  The Minnesota-based company reported fourth-quarter profits that beat analysts’ expectations.  Best Buy reported net income of $460 million, or $2.12 per share, in the quarter ended Feb. 3.   (AP)

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The North Dakota Department of Commerce announced today that a total of $463,983.33 in Rural Workforce Housing Grant/Removal of Slum and Blight funds were awarded to eight North Dakota Communities. This grant supports non-profit organizations and/or local governments in development and improvement of affordable housing options.  The recipients include $20,000 for Cavalier to conduct a housing study.  The Mayport Economic Development Corporation picked up $15,000 to remove dilapidated homes for future housing development.

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Agriculture Commissioner Doug Goehring has approved a $274,100 grant to conduct drone detection of noxious weeds.  The project will focus on sugar beet and soybean fields in four counties during the 2024 growing season including:   Traill, Cass, Richland and Barnes.  The recipient of the grant is Northern Plains UAS Test Site.

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North Dakota Health and Human Services (HHS) has announce Donna Aukland has been appointed as chief financial officer, effective March 1.  Donna holds a bachelor’s degree in accounting and a master’s in business administration, both earned from the University of Mary.

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The North Dakota Parks & Recreation Department and North Dakota Council on the Arts are accepting applications for the Artist in Residency program. Artists of all disciplines are encouraged to apply.   Three artists will be invited to stay at either Turtle River State Park (August 12-19, 2024), Fort Stevenson State Park (October 10-20, 2024) or at Cross Ranch State Park (February 10-17, 2025).  This project is supported in part by a grant from North Dakota Council on the Arts.

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Two of the biggest grocery chains in the United States had hoped to complete the largest supermarket merger in the country’s history this year. But their plan to compete with big-box retailers by combining forces faces legal challenges that make it look far less likely. The U.S. Federal Trade Commission has filed an administrative complaint against Kroger’s $24.6 billion deal to acquire Albertsons.  (AP)

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Budweiser brewer Anheuser-Busch has reached a contract agreement with the Teamsters union that avoids a strike at its U.S. plants. The union had threatened to strike the brewer’s 12 U.S. plants if an agreement on a new five-year contract.  Workers are expected to vote on whether to approve the contract this week.   (AP)

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One of the large bison that calls the Red River Zoo home has a new name.  The zoo has named the animal “Marge” after a diner of the same name in Fargo.  Marge’s Diner has entered into a partnership to support the Zoo’s bison population. The Red River Zoo relies on a combination of earned revenue and philanthropic support to fulfill its role in the community.