Oil boom Makes North Dakota a New Frontier for Businesses Large and Small

The oil business has come to North Dakota. This booming enterprise has expanded cities, and housing developments and promoted all of McDonald’s employees. Men are flooding to North Dakota to work on hydraulic fracturing and live in what have come to be known as “man camps”. So, what does this boom mean to the rest of North Dakota’s economy? You may be surprised.

With new men and families flooding into North Dakota, the housing market has seen immense growth. The North Dakota construction industry has since seen a boom. Construction companies are being hired to build single family homes, town homes as well as apartment complexes to house the thousands of workers who are filling up hotels and squeezing into the crew camps. “Man camps” are also being built to house single men new the oil fields. These immense structures can house over 1000 men providing all of the comforts of home including linen service and 3 squares a day.

Small towns near the oil fields are seeing growth too. From clothing stores and pharmacies to grocery stores, shelves are being cleared and profits made. Fast food has also seen employees leave for higher paying oil jobs. They have raised pay to $15/hour and offer signing bonuses of $300 to compete in the job market.

What does all of this growth mean for the economy of North Dakota? How about a $1 billion budget surplus, as some suggest? From entrepreneurs to large corporations, North Dakota has seen an unbelievable increase in the business and job sectors and it is expected to continue to grow through at least 2015 according to some estimates.

Small business owner, Todd Fry, has recently joined Sunbelt Network to open its first office in the booming Fargo, North Dakota marketplace. “It’s an exciting opportunity for me personally and a great addition to the region’s business community. As a long term resident of Fargo, I am looking forward to offering Sunbelt’s services to business buyers and sellers based in my community and across North Dakota,” says Fry.

The Sunbelt North Dakota office plans to open in Fargo by the end of the year. You can read more about it in this press release: https://www.pr.com/press-release/515804.