Connections for Growth
Put simply, we make connections. And every connection supports company success.
Our EDC has assisted nearly 80 projects in the past three years, with 29, alone, in 2021. We could fill up this entire report with those stories. Instead, we’ve highlighted about half-dozen that represent a cross-section of our regional economy, and where the EDC provided our expertise to assist in making happen.
Standard Industries is a metal fabrication business that provides a variety of stainless steel, precision steel and aluminum products nationwide. The company is building a new 120,000 square foot building in Fargo. Standard Industries previously occupied 38,000 square feet of space. This project will add around $8.4 million in total capital investment ($7.2 million building and $1.2 million in new equipment) with 26 additional high-paying jobs to our market.
Packet Digital is a leading electronic engineering service provider and manufacturer solving complex problems with electronic and power solutions. This project includes a total capital investment estimated at $1.91 million for the acquisition and fit-up of an 11,000 square-foot building and includes the projected creation of 25 new full-time positions. This move allows for growth and accommodates their updated manufacturing capabilities.
Tecton Products is recognized as the leading manufacturer of complex-shaped, thin-wall composites with weatherable coatings for the high-performance windows industry. The company has grown into multiple manufacturing facilities with a team of more than 310. Tecton has chosen Fargo as the location for its next expansion, adding 150,000 square foot addition to its existing 100,000 sq. ft. facility. This expansion represents an investment to the region of approximately $22.5 million ($16 million building and $6.5 million in equipment). To support this expansion, Tecton expects to add 100 jobs over the next five years all of which will pay over $22/hour plus benefits.
3D-Fuel is a manufacturer of filaments used for 3D printers and is an important player in the growing 3D printing technology cluster in the region. The company is adding a new (fourth) filament production line and additional equipment due to increased demand. Total investment is approximately $410,000 and 3D-Fuel expects to add nine new jobs.
Thrifty White Drug operates a central fill site where they add value by fulfilling, packaging and distributing medications to drug stores in towns across a multistate region. In 2021, Thrifty White was looking for a community to expand in and chose to invest in an 11,000 warehouse distribution expansion here in Fargo. This expansion will add 20 new jobs.
Sign Solutions USA, a Dakota Fence Company, manufactures and distributes transportation safety products, including MUTCD road signs and markers, mounting hardware, and temporary traffic control devices. Sign Solutions is building two new buildings totaling 117,000 square feet in West Fargo’s Industrial Park. The total investment of $17.54 million into the project includes $2.2 million in equipment. The company expects to create 98 jobs in the first three years.
These projects showcase results from our three year goals. Our organization sets big goals related to number of projects, capital investment, square footage and job creation. You can take a look at our three year goals and the results (Spoiler alert: We’re hitting it out of the park thanks to the region’s great companies.)
Growth of BioScience Sector
You may be surprised to learn that what started as a couple bioscience companies roughly a decade ago has grown into a sizable sector.
Minding our Own Business(es)
With a business concierge mindset, we meet with and support primary-sector businesses. We make connections that help companies take advantage of success or overcome obstacles. Our approach and service to our existing companies is recognized as a nation-leading program, and helps us to address immediate needs, support business development projects; and provides strategic data for public policy and marketing.
Getting properties “document ready”
When “speed to market” is as critical as it is today, having land that is document ready is a must. In a Fueling Our Future supported program, the GFMEDC has worked with national consultants, communities and partners to create the program and identify top locations in the region where future development can occur quickly and efficiently.