Why North Dakota / Northwestern Minnesota?

North Dakota and the counties of northwestern Minnesota were selected as the Regional Center’s designated area after carefully researching the growing number of attractive investment opportunities located within this geographical region. In addition, all of these counties share a very similar demographic make-up. These areas are, for the most part, considered targeted employment areas (TEAs) by the federal government. This classification lowers the minimum amount that must be invested by foreign investors. Conversely, foreign investment in these counties can significantly strengthen the regional economic environment, as well as generate a substantial number of direct and indirect jobs. The North Dakota/Northwest Minnesota EB-5 Regional Center focuses on the following industries:

Agribusiness

North Dakota and northwestern Minnesota lead the nation in agribusiness, ranking as top producers of important crops, including potatoes, sugar beets and sunflowers.

Machinery Manufacturing

North Dakota is the location for the largest manufacturer of private airplanes, as well as a manufacturer of blades for a major worldwide wind generation company. Manufacturing of machinery, particularly construction and farm machinery, also plays a significant role in the economics of North Dakota and northwestern Minnesota.

Aviation / Aerospace

North Dakota is becoming a major player in the study and testing of Unmanned Aerial Vehicles (UAVs), as the Grand Forks Air Force Base was designated as one of the United States Air Force’s UAV bases. In addition, the University of North Dakota’s (UND) aviation program is recognized as the world’s premier post-secondary aviation program.

Information Technologies / Communications

North Dakota and northwestern Minnesota pride themselves in the continued expansion of information technology companies throughout the region. In fact, the region is home to one of Microsoft’s major campuses.

Biotech / Bioscience

The region plays a significant role in biotechnology and its developing industries through emerging firms and research at the university level.

Construction and Real Estate Development

The North Dakota / Northwest Minnesota region was insulated from much of the mortgage lending turmoil that unsettled the rest of the United States. Hence, real estate development continues to grow across the region.

Utilities

Due to a large production of power within North Dakota, the price paid for electricity in North Dakota in 2006 was among the lowest in the nation. In fact, on average, electricity costs half as much as it does in the New England states.

North Dakota also has the lowest unemployment rate in the nation. However, this does not mean that the state is necessarily expanding on an economic basis. In fact, most of the college graduates in North Dakota (two out of three) move out of the state to find jobs. With the creation of the EB-5 Regional Center, an increase in economic development will bring more jobs to the area and the ability to keep college graduates within the region.