Business Development

The GFMEDC works hard to aid economic growth by helping primary-sector companies secure the resources, information or connections to support expansion and growth. Looking at the data, you’ll see that 2023 was a successful year with 18 successful projects and more than 50 in the pipeline.

Here are a few highlights:

Dakota Air Parts (DAP)

DAP, Fargo, ND, is an aerospace and defense logistics corporation and one of the world’s largest helicopter suppliers. DAP has more than 50,000 square feet of parts containing 138,0000+ inventory line items managed using state of the art inventory control systems and has been recognized by the U.S. Department of Commerce for excellence in exporting to foreign countries. The GFMEDC worked with DAP to access financial programs and resources which supported a decision to invest $9 million in Fargo over other communities that DAP also operates. This capital investment will support the acquisition of more than 72,000 square feet and 15 new jobs in the FM metro.

 

Imricor Medical

Imricor Medical is a pioneer and leader in developing MRI-compatible products for cardiac catheter ablation procedures based in Burnsville, MN. As part of its mission to grow the regional Bioscience and Medical Device sectors, the GFMEDC has provided multilayered approach to assisting Imricor, connecting them to financial resources, lab and office space, and research and talent providers like NDSU. Through its expansion into the FM metro, Imricor is repurposing 15,000 sqft of office and production space and investing in specialized systems to accommodate design, engineering and initial manufacturing phase to support market expansion. To accomplish this, Imricor will be hiring 20 high paying technical positions.

Corvent Medical

Corvent Medical is relocating manufacturing operations from California to Fargo and will configure space for the manufacturing of medical ventilators as well as product development, testing, warehousing, customer service and corporate administrative functions. Corvent initially relocated to the FM community in January 2022, occupying 3,000 square feet of space in the R2 building of NDSU’s Research & Technology Park. Less than two years later Corvent has outgrown this space and will be expanding into 15,000 square feet in the former PRACs building where it will transition from design, engineering, and development, to production and manufacturing of initial units. Corvent will add 38 high paying jobs as part of this expansion.

 

John Deere Electronic Solutions

John Deere Electronic Solutions is expanding its power electronics building on 19th Ave N to provide additional manufacturing space to support forecasted sales growth. The new addition represents an 84,000 square foot expansion and capital investment of more than $26 million. The new facility will allow for additional functionality including logistics, lab and warehouse capabilities. John Deere has multiple operations around the globe and this investment is a positive indicator that John Deere sees continued growth opportunities in the FM market.

 

Marv Haugen Enterprises

Marv Haugen Enterprises manufactures skid steer and forklift attachments and accessories for the agriculture and construction industries. The GFMEDC’s Growth Initiative Fund (GIF) provided financing to support a Bank of North Dakota PACE interest rate buydown for construction of a new 17,500 sq ft addition to double their space from their existing 16,000 sq ft facility. This expansion will provide more manufacturing space to increase production as well as efficiencies. The total project capital investment of $2.43 million includes the new building, fixtures and equipment.

Big Deck Barbecue

Big Deck Barbecue is a startup food manufacturer that creates and packages premium BBQ sauces, mustards, hot sauces and seasonings, primarily sold in retail outlets. The GFMEDC’s GIF loan program provided a $50,000 microloan to help them purchase more ingredients and packaging to take advantage of customer demand, as well as enabling them to increase production with the purchase of larger and faster bottling equipment and an advanced labeling machine.

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 December 2023, Packet Digital celebrated a ribbon cutting for a new battery and power systems manufacturing facility. The vastly improved facility repurposes 24,000 square feet of new industrial space and will add 24 new high paying jobs to the local economy.

The GFMEDC has provided the company support for expansion 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.

“We are proud to be a part of the Fargo Moorhead community, and we appreciate the GFMEDC’s support and guidance in making our project a reality. Your vision and leadership have been instrumental in creating a vibrant and innovative business environment that fosters growth in our community. Thank you again for your support with the New Market Tax Credit, the incentive financing packages, and for staying on the pulse of where we are going next and being there with your support,” Terri Zimmerman, CEO, Packet Digital.

 

Following are additional companies we’ve assisted in 2023:

Entrepreneurial Ecosystem

At a 2023 GFMEDC Business Development breakfast, our organization reflected on the growth and changes in the region’s entrepreneurial system since we began intentionally supporting the ecosystem in 2012.

Our focus for more than a decade has been growing and strengthening the existing ecosystem. We’ve seen an increase in the number of support programs and resources since then.

Our entrance into entrepreneurial development included a timely partnership with Emerging Prairie, formed around the same time. We provided early financial and relationship support to Emerging Prairie, an organization that has become a critical leader in the ecosystem.

We ask: How can we support you

The collective work of many people and organizations has driven the region’s success. A decade of collaboration and asking entrepreneurs how our community can support them has led to an increase in the programs, space, funding and events that support the entrepreneurial journey. Our organization continues to be engaged, knowing how to connect, inform and support the startup scene as we work toward another decade of growth.

Together the community fosters the magic our region is quickly becoming known for and to build an ecosystem that is incomparable to other markets in the country.

Take a look