The Development Landscape

{1} Attracting Technology Companies

>>> The Fargo-Moorhead region has a high-quality existing technology base and boasts the nation’s lowest unemployment rate (1.7 percent). But Brian Walters says the tech sector needs to become larger and more diverse to assure long-term growth.

Many companies in the fields of computer science, software development, microelectronics, and bioscience are already located in the area. Walters hopes that the presence of ample higher-education resources in the metro will help to attract and foster even more new technology businesses. In addition, he says, the telecommunications infrastructure in the area is excellent and can provide any level of service a company might require.

“Our work is to build the infrastructure they need, and to beef up the capacity of Minnesota State University–Moorhead, Concordia College, and North Dakota State University to meet their workforce demands,” he says. “What matters most in site selection for a tech-based company is the higher-education resources and the ability to partner with a research institution. The good news for us is that we have those building blocks in place.”

>>> The United States as a whole is shifting to a knowledge- and innovation-driven economy, Walters says, but so far the country hasn’t done a very good job of aligning its educational output with the economy’s demands.

“We have a great K-12 system here [in Fargo-Moorhead], but we need to beef up the math and science areas to better support our opportunities locally,” he says. “It’s something that I think all the states in our country need to get much better at, because we are facing threats from China, India, and other parts of the world for our white-collar positions.”

To help make it happen, Walters says his organization is trying to build public awareness of job opportunities in science- and math-centric occupations.

“Fifty years ago, we had an economy that was fairly forgiving of people who didn’t make the   best educational choices,” he says. “But the economy has become much less forgiving. We need to make the transition or run the risk of slower growth rates in the future. Ultimately we have a responsibility, at the local level and at the state level, to create opportunities for our people so that they can stay here and pursue great career tracks within the state of Minnesota.”

>>> One of the biggest economic development issues facing Minnesota’s smaller cities is transportation—in particular, air service.

“It’s important in terms of our ability to support existing global companies, as well as to attract new companies that are very much operating and competing in a global economy,” Walters says.

Thanks to what Walters calls “a great airport authority,” Fargo-Moorhead has been very aggressive in terms of extending air service to the region. Hector International Airport in Fargo already boasts direct flights to and from Minneapolis, Denver, Chicago, Salt Lake City, and Las Vegas.

“We are supporting [the airport authority’s] efforts,” Walters says. “We participate in a lot of the meetings that they hold, talking about the economy and the growth opportunities before us. As airlines make decisions on the frequency of flights and the markets they serve, the business community is a leading part of their decision.”