CEO Guide to the States

#25

North Dakota

CEO Rank on Best & Worst States for Business

FROM CARBON PRODUCER TO CARBON CAPTURE

The Peace Garden State is experiencing one of the biggest economic booms in 25 years. While North Dakota is the second-largest hydrocarbon producer in the country, its clean energy initiatives also offer new economic opportunities. Gov. Doug Burgum announced in May 2021 an ambitious goal to help make the state carbon neutral by 2030. Through carbon capture, storage and utilization initiatives like Project Tundra, North Dakota can now turn sustainable initiatives into a thriving industry.

“The global investment community and markets are demanding low-carbon energy… North Dakota is well-positioned to be a global leader and coveted location for businesses who are looking to expand and respond to the many factors that are currently shaping the future of energy.”
Doug Burgum
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

PACE Program: Offers loans as low as 1% for primary-sector businesses to purchase real property, equipment or certain working capital requirements.

Income Tax Exemption: Offers an exemption from state income taxes for up to five years for any primary sector business that adds value to a product, process, or service that produces new wealth in North Dakota.

New Jobs Training Program: Offers grants and loans to help offset the cost of training new employees for business expansions and startups.

CDBG/CDLF: Offers loan and grant funds to assist primary-sector and retail-sector businesses seeking to expand or relocate operations in the state.

Automation Tax Credit: Offers an income tax credit of up to 20% of the purchase cost of machinery and equipment for the purpose of automating a manufacturing process.

EDCs

North Dakota Economic Development & Finance Division

business.nd.gov

Bismarck-Mandan Development Association

bmda.org

Fargo Moorhead Economic Development

gfmedc.com

Williston Economic Development Office

willistondevelopment.com

HIGHLIGHTED PROGRAM OR INITIATIVE

The Accelerate ND plan takes a strategic approach to investing federal dollars in the state to support growth, diversifying the economy, enhancing government services and creating long-term cost savings for citizens.

BIG DEALS

  • Tecton Products announced in April 2021 a $16 million expansion and 80 new jobs in Fargo and Cass County.
  • Standard Industries announced in August 2021 a 120,000-square-foot facility and 26 new jobs in Fargo.
  • Cerilon announced in October 2021 it would develop a $2.8 billion gas-to-liquids complex in North Dakota.
  • Soiltech Wireless announced in October 2021 it would open an office in Fargo.

BIG COMPANIES

  • MDU Resources 
  • Microsoft 
  • Bobcat
  • John Deere 
  • Case
  • Hess
  • Northrop Grumman 
  • Aldevron
  • Amazon 
  • Cloverdale Foods