Current economic situation in Bismarck (Fargo, Grand Forks: hotels, lease, jobs)

[MMK440]

Hello,

I'm interested about the economic situation of Bismarck (population growth/decline, economic growth/decline). I have searched the web trying to find information so I can avoid opening this thread but wasn't as successful as I hoped to be. Therefore I hope to get some answers here.

Bismarck is an interesting place for me due to its remote location and would like to know how the place is doing not just for my own interest but I am also thinking about visiting it in the near future and get an impression by myself...but for now any info will do that will give me an overview.

Thanks in advance

[bismanpokerclub]

Yes, we are remote. Remember when you come to visit the last wagon ride you will almost certainly be attacked by hostile natives so bring a good supply of gunpowder and lead. Make sure your vittles is stored so the coyotes cain't get to 'em neither.

[ebitdadada]

If you go to BEA : Gross Domestic Product by Metropolitan Area you can get Gross Metropolitan Product (GMP is the equiveient of GDP for metro ares - i.e. it measures the size of a metro area's economy) numbers by metro area for 2001 to 2005.

Here's what I found:

% Increase in GMP / GSP / GDP 2001-2005

United States: 23.01%
Total US Metropolitan Areas: 22.78%
State of North Dakota: 34.59%
Bismarck MSA: 36.5%
Fargo MSA: 31.59%
Grand Forks MSA: 26.45%

I'd note that Bismarck-Mandan & Western ND only really started to see its current economic boom in 2006 (High Energy, & Ag prices Help Western ND alot). If you were able to get data through 2007, Bismarck & ND as a whole would almost certainly outperform the US by more than it does in these stats.

Another fun tidbit: Bismarck had the highest year-over-year housing price increase in the US in Q3 2007 - housing prices were up 15%.
2007 Housing Report - The Best & Worst | USPRwire

Hope that helps!

[DannyBanany]

Have you tried the city-data.com website?

[chester]

I've lived in Bismarck for over 20 years, and over the years, it has yet declined in population. It has grown slowy over the years from 40,000 in the 80's to around 60,000 today. Not much when you consider how fast large metro areas increase or decrease in one year, but Bismarck has grown slowy, healthy, and consistantly over the years. No boom or bust cylces. Retail wise, the same...each year, something new moved in, whether it be retail, restaruant, hotel, etc... Bismarck has a very positive, healthy population and economic pattern of growth.

[Cain]

Thing I really like about bismarck is that it seems to get planned out fairly well as far as were a residential area is next to a commercial one. Coming from CT, it was annoying how a house could just be sticking out there in the middle of a strip mall.

As far as jobs, depends on what you do. I hear that if you do anything with healthcare or related, good stuff.

[BreaOC]

The last few years have been very favorable to the Bismarck area. To recap 2007 here's a few of the things that have happened:

-Bobcat was purchased for $4.9 billion by Doosan Infracore, a Korean based Co.
-Scheels Sporting goods quadrupled in size (now over 100,000 sq ft) making it the largest sporting goods store in the western part of the state, second largest in the state.
-Two new hotels were built, Hamilton Inn and Candlewood Suites.
-Furniture Row, Tuesday Morning, Dress Barn, Shoe Carnival, a second Dollar Tree, a Family Dollar store, and the a new larger TJ Maxx opened. North Dakota's first Golds Gym will be opening in the former TJ Maxx space. Gateway Mall is nearly completely leased and the interior has been completely renovated and the exterior renovation was recently started. In all the renovations will cost over $10 million, including a new parking lot (Finally!!!)
-A few new restaurants were added, including The Golden Corral, Panchero's, Ruby Tuesday, Great Taco's, a second Cold Stone Creamery, a third Wendy's, a sixth Starbucks, a third Taco Bell, and a Hooter's.

Population wise the city continues to grow at an average of 1,000 a year, or roughly 1.01% a year, which is good for cities in the area, considering the exodus from many (but definitely not all) cities and towns in ND. The metropolitan population of Bismarck passed 100,000 in 2006, estimated to be 101,138 at the latest census estimate.

[bismanpokerclub]

Are you sure that population of 101K is for Bismarck or is it maybe for Burleigh county or Bis/Man combined?

[BreaOC]

Originally Posted by BreaOC

The metropolitan population of Bismarck passed 100,000 in 2006, estimated to be 101,138 at the latest census estimate.

It is the metropolitan population, which is the population of the core cities of Bismarck, Mandan, Lincoln, and the communities that surround them. In the United States the standard definition of a metropolitan area is the metropolitan statistical area which uses counties as building blocks. In ND our 3 MSA's consist of the two counties that the cities in them extend into (Burleigh-Morton, Cass-Clay, and GF-Polk).

[bismanpokerclub]

Right thats what I am saying, I just wanted to make sure thats what we were talking about.