Business Development

The GFMEDC works hard to support economic growth by helping primary-sector companies secure the resources, information or connections to be successful. Decisions by companies to invest in expansion and growth involve an aggregation of information and factors. A seemingly small connection can often be the catalyst to support a company’s expansion, adding more wealth and jobs in the regional economy.

Looking at the data, you’ll see that 2024 was a successful year with 20 successful projects and more than 40 in the pipeline. 

Among this year’s 20 projects, six fall within our Targeted Sector Strategy (AgTech, Bioscience, and Autonomous Systems), marking the third year of consecutive growth in the number of successful targeted sector projects.  

Company Highlights

Here are a few highlights from some of our notable projects this year: 

Aigen Inc.  – Aigen, a Redmond, Washington-based agriculture robotics company, expanded into the FM market with the opening of its new Midwest Regional Operations Center in early 2024. Aigen secured space at the NDSU Research & Technology Park’s Technology Incubator for a robotics lab and field operations. Additional space in Fargo’s industrial park was also acquired to support operations. 

Packet Digital – Packet Digital is an engineering company focusing on battery and power system development for autonomous systems, with an emphasis on UAS. Packet Digital boasts decades of experience in battery design, battery management systems, and embedded programming. In June of 2024, the company officially secured the location for its future battery cell plant in Fargo, North Dakota. With the location and building in place, Packet Digital has begun construction on the facility and acquiring the equipment needed to manufacture its highly reliable, high-performance drone battery cells right here in the United States. The 80,000-square-foot battery cell plant will be the company’s third location in less than five years and represents a capital investment of more than $55 million. Once completed, Packet Digital will build high-performance battery cells and assemble batteries at its battery pack manufacturing facility in Fargo and will add 40 new high paying jobs to the regional economy.  

The GFMEDC has provided the company support for all of Packet Digital’s expansions over the years including connecting the company to new financial programs and tools like New Market Tax Credits, financing through the EDC managed Growth Initiative Fund, accessing incentives, strategic planning support, consultation on expansion options, connection to Department of Defense resources, and more. 

Border States Industries – Border States Industries is the sixth largest electrical distributor in the United States, providing innovative supply chain products and services to the construction, industrial and utility markets. Border States is a $4 billion, national business with nine locations in North Dakota and 391 employees in Fargo. The company has 120 locations in 29 states. In early 2024, Border States made the decision to build a new 350,000-square-foot distribution center north of the Fargo’s industrial park. This state-of-the-art Upper Midwest Distribution Center represents a $47 million investment and will add 60 high paying jobs to the FM economy. This project was secured in Fargo after a competitive proposal against several other upper Midwest locations. 

Verdethos – Verdethos, a startup is a scalable supply chain management platform addressing the challenges of sustainability, automation, and compliance by providing source-to-shelf traceability of raw materials. Their platform connects trading, operations, sustainability, and procurement internally, while also linking supply chain partners externally.   

While working remotely from various cities, and primarily Minneapolis, co-founder Lisa Kosciuk visited Fargo Moorhead to attend Emerging Prairie’s Prairie Capital Summit. The initial connections from that trip led to additional visits and connections, further integrating her into the ecosystem. When Kosciuk mentioned she was considering relocating to the Fargo area, and the fact that they were looking to raise funds, GFMEDC staff educated her on and connected her to the wide variety of applicable resources to enable the startup. 

“Building a startup is hard enough no matter where you are, so finding a unique place like Fargo where there’s a tremendous amount of support both inside and outside of the entrepreneurial community has been exciting. Ag and energy are focal points for Verdethos, so strategically, being surrounded by both industries makes sense as well. I’ve lived in and visited many cities, and there are no other startup ecosystems that compare to what is here. It is fascinating how well everyone works together here and partners and connects with little to no strings attached. That’s rare.” – Lisa Kosciuk 

Verdethos moved their headquarters from New York to Fargo in 2024; they believe that rooting their business in a community where businesses help each other survive the innovation rollercoaster to be critical during the earliest stages of a complex business.

Verdethos was approved for a $750,000 LIFT loan in 2024 and has begun to grow their physical presence here, while simultaneously growing their customer base presence in the U.S. and internationally, including excellent traction in Asian and South American markets. 

Precision Dental Labs (PDL)  – PDL is a dental appliance manufacturing company founded in 1985 in Fargo. PDL specializes in custom dental implant, crown and bridge, and removable restorations. PDL, serving customers nationwide, has grown to a 40+ employee manufacturing facility utilizing state of the art CAD design, CNC milling, and 3D printing. 

In June 2024 PDL was approved for a 5-year PILOT by the City of Fargo for construction of their new 15,000 square foot headquarters and manufacturing facility. This project includes a capital investment of $7.5 million ($6.5 million building and $1 million equipment) and will include the addition of 15 new high paying jobs.   

FamGenix  – FamGenix is a healthtech software platform that connects patients and healthcare providers in assessing hereditary disease risk. Their innovative platform offers guided health history, family collaboration, and cascade screening that enable healthcare providers and patients to easily manage family health history and determine inherited risk for disease. In August, the company relocated corporate headquarters from Florida to the NDSU Research and Technology Park Incubator.

MyAgData  – MyAgData is a cloud-based software system that automates the data collection and reporting process required by the U.S. Department of Agriculture (USDA) to satisfy obligations for crop insurance and Farm Service Agency (FSA) program participation.  In September 2024, MyAgData announced the opening of their new office at the NDSU Research & Technology Park and hired their first ND employee out of the Emerging Digital Academy program run by Emerging Prairie. They continue to actively recruit for several other positions they are trying to fill in the FM area.  

 Following are additional companies we’ve assisted in 2024