Economic Profile

Economic Development

The Minot Area Development Corporation’s (MADC) mission is to facilitate the retention, expansion, start-up and relocation of primary sector businesses in the Minot area to diversify and grow the region's economy. Targeted industriesinclude knowledge-based employers, value-added agriculture, and petroleum exploration and servicing.

With the support of our investors, the City of Minot, Ward County, and the state of North Dakota, MADC strives to increase employment and provide continued economic stability for the area. Through successful recruitment, retention, and/or expansion of many businesses, new jobs have been created in the Minot trade area, generating new wealth that flows through our entire community, and promises a more prosperous future for its residents.

The Minot Area Growth through Investment and Cooperation (MAGIC) Fund is the primary economic development tool to provide financial incentives to bring companies to Minot.  Since 1990, the MAGIC fund has generated approximately 1.6 million dollars per year for new and existing primary sector businesses. The support of the MAGIC fund, along with many statewide development grants and funds, allow MADC to finance aggressive economic development programs that enable Minot to stay competitive on a national basis.

Local initiatives such as the Great Plains Energy Park™, the Value-Added Agricultural Complex, and the Technology and Professional Complex offer infrastructure benefits for quick start up and lower relocation costs. Additionally, utility rates that fall well below the national average and high employee productivity, position Minot as an attractive place to relocate.

A robust economy also factors in to the growth and expansion of Minot’s commerce base.  The oil industry offers tremendous opportunity for sustainable low unemployment rates and living wages.  According to a May 2010 report published by the Associated Press, Ward County is the least economically stressed county in the United States.

MADC's successes are a direct result of the active leadership and participation of our investors working together towards a common vision of creating a dynamic community that provides growth, opportunity, prosperity and quality of life for future generations.
For more information visit www.minotusa.com or call (701)852-1075.

Minot Air Force Base

It may be separated by 13 miles, but Minot Air Force Base (MAFB) is a part of the community.  The base and the community combine to make TEAM MINOT – a term used to show the strong relationship between the two.  Activated in 1957, MAFB has gone through changes since its start as an Air Defense Command Base.  Today, MAFB consists of two units: the host wing, The 5th Bomb Wing and the 91st Missile Wing, both part of the Global Strike Command. The total Base related population (military, civilian and dependents) is over 12,800 with over 5,670 of that total, living on Base as of September 2010.

The 5th Bomb Wing has two squadrons that manage a fleet of 27 B-52 bombers capable of flying anywhere around the world and delivering a wide range of precision-guided bombs and munitions. The 5th Bomb Wing is one of two B-52 Bomb Wings in the Air Force.

The 91st Missile Wing has three squadrons that maintain the control over 150 MM III Intercontinental Ballistic Missiles. The 91st Missile Wing is one of three operational intercontinental ballistic missile Bases in the Air Force

The strength of the Air Force is evident, not only by its readiness and manpower, but by the ties with the City of Minot.  For those of you new to the area, welcome!  We hope you enjoy your stay at MAFB!

Agriculture

Agriculture is our Number One Industry

• Nearly 24 percent of North Dakota's people are employed directly by production agriculture or in agriculture related industries.
• With cash receipts of more than $4.1 billion, agricultural production and manufacturing is North Dakota's largest industry.
• North Dakota has approximately 30,000 family farms and ranches. The average North Dakota farm is 1,300 acres.
• More than 39 million acres - nearly 90 percent of the state's total land area - is in farms and ranches. The majority of those acres are plated in wheat, soybeans, barley, sunflowers, canola and corn.
• Farms and ranches provide food and habitat for 75 percent of North Dakota's wildlife.

We're Number One

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