Reflecting on a Strong and Growing Economy – GFMEDC Annual Report
December 6, 2022 | Bylgnelson| News
The Greater FM EDC’s Annual Report highlights a rewarding and successful year for the GFMEDC and the regional economy. Check out the entire report at: https://annualreport.gfmedc.com/ or see below for highlights from some of the various sections.
The results are in… the FM Regional Economy is Strong!
We define success in terms of job creation, capital investment and additional square footage. These metrics, along with conservative analysis, give us the data to understand how primary-sector projects drive the region’s economic growth.
In 2022 (as of October 15), the GFMEDC assisted 20 projects that created 189 new jobs and ripple effects of 380 additional jobs (for a total 569 jobs). These projects made capital investment of $463M, utilized 460,000 additional square feet of space, and spurred $206M in one-time sales circulating through our regional economy. Check out our results:
Business Development, Recruit, Create and Support Existing Companies
As of October 15, the GFMEDC assisted 20 projects. These projects span key industry sectors in our region including bioscience, UAS/Unmanned Systems, agtech and manufacturing.
In addition to covering multiple industries, we’ve assisted projects throughout the Greater Fargo Moorhead region including multiple existing industry expansions, new company development and the recruitment of established businesses. Check out our business development section for more information on the projects we’ve supported:
Workforce Development, A Plan to Capitalize on our Biggest Challenge
Thanks to the Regional Workforce Impact Program (RWIP), a ND State Grant, our organization will launch a $600,000 ($450k from State and $150k from Fueling Our Future) campaign to attract talent to the region. It’s the most comprehensive regional talent recruitment plan to date. Check out our workforce development section:
Partnerships, Collaborative Commitments to Long-Term Economic and Community Growth
Several initiatives and partnerships support long-term economic and community growth. Fueling Our Future is a partnership led by our GFMEDC and The Chamber. FOF has led or supported several initiatives that prioritize the people and prosperity of our community that have had long-term positive effects.
Other partnerships with Grand Farm, Valley Prosperity Partnerships and work with our public partners and higher education lead to a stronger economy and better quality of life. Check out our partner section: