BISMARCK-MANDAN DEVELOPMENT ASSOCIATION 701-222-5530 info@bmda.org
New Geographycompiles rankings based on short-, medium- and long-term job creation, going back to 2002, and factors in momentum — whether growth is slowing or accelerating. The Bismarck MSA ranked #1 in the list of Small Cities and #1 in the list of All Cities. Separate rankings were compiled for large cities (nonfarm employment over 450,000), as well as medium-size cities (between 150,000 and 450,000 nonfarm jobs) and small cities (less than 150,000 nonfarm jobs) in order to make the comparisons more relevant to each category. Small cities, as a rule, show more volatility than their larger counterparts since the decision of one major business to expand or contract can have an enormous effect on a relatively tiny employment base. The top of the list includes both cities that have had the most striking comebacks since the Great Recession as well as those that have consistently created jobs over the long haul.
The 2013 Milken Institute Best-Performing Cities Index ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The Bismarck-Mandan MSA was ranked in the #4 spot this year. About the MSA, the 2013 Index said “Bismarck inched down a spot to fourth. The metro posted Top 10 performances in one-year and five-year job and wage growth; its population is growing; and the unemployment rate remains low. Hospitals are among the metro’s largest employers, and health care added hundreds of jobs from 2007 to 2012. Tax revenue from the oil boom has kept employment stable in the capital.”
Bismarck-Mandan landed in the #4 spot on Forbes’ “Best Small Places for Business and Careers” for metros under 250,000 in population. Rankings are derived from a dozen factors related to jobs, costs (business and living), income growth, quality of life and education of the labor force.
North Dakota again ranks high in the Forbes “Best States for Business” list, coming in at #2 behind top-ranked Virginia. Rounding out the top ten states are Utah, North Carolina, Colorado, Nebraska, Texas, Minnesota, Washington and Georgia. The rankings are based on a variety of categories, including business costs, labor supply, growth prospects and regulatory climate.
Forbes offers this North Dakota profile: “North Dakota has boasted the country’s most robust economy over the past five years. It is tops for job growth (3.7% annually), income growth (3.8%), gross state product growth (7.9%) and unemployment (3.6% average). With the nation’s third best economic growth forecast over the next five years, its outlook looks strong too. Credit the development of the Bakken oil shale fields in the western part of the state for much of that growth, as well as thriving technology and service sectors.”
Forget historically hyped states such as New York and California – young people looking to begin their adult lives are likely to find the most favorable conditions in the nation in North Dakota, according to a new analysis by MoneyRates.com. When all 50 states were compared to each other across eight categories, Midwest states claimed the majority of spots in the top 10. While these results may seem surprising to the many who don’t view places such as North Dakota and South Dakota as youth meccas, MoneyRates.com notes that North Dakota has a higher percentage of people age 18-24 than any other state in the union.
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