Economic Profile
Fargo Moorhead's economy consistently ranks among the highest of 381 metropolitan areas in vitality, according to Moody's economy.com. Gains in income and employment have exceeded the national average for the past five years, and the region has one of the lowest unemployment rates in the nation. Our community benefits from a diverse and solid base of industry that includes national and global names like Microsoft, John Deere, Bobcat, Case New Holland, NAVTEQ, Titan Machinery, US Bank, Bank of the West, and Wells Fargo.
- #1 Best Performing Small City 2010, Milken Institute
- Cost of Doing Business: 84% (U.S. average = 100%)
- October 2011
Economic Indicators
| Data |
2006 |
2007 |
2008 |
2009 |
2010 |
| Gross Metro Product ($ billions) |
8.5 |
8.9 |
9.5 |
9.4 |
9.9 |
| - Change over previous year (%) |
2.5 |
5.0 |
6.5 |
-1.2 |
5.2 |
| Total Employment |
115,600 |
118,700 |
121,900 |
120,800 |
121,300 |
| - Change over previous year (%) |
2.6 |
2.7 |
2.7 |
-0.9 |
0.5 |
| Unemployment Rate |
2.7 |
2.8 |
3.0 |
4.4 |
4.1 |
| Personal Income Growth (%) |
7.4 |
7.2 |
11.3 |
-2.1 |
4.6 |
| Source: Moody's economy.com, Oct. 2011 |
Employment by Industry
| Industry |
Number Employed in Nov. 2011 |
Change from Nov. 2010 |
| Total Non-Farm |
126,600 |
3,000 |
| Total Private |
107,500 |
2,600 |
| Goods-Producing |
16,400 |
600 |
| Service-Providing |
110,200 |
2,400 |
| Private Service-Providing |
91,100 |
2,000 |
| - Natural Resource and Mining & Construction |
7,400 |
600 |
| Manufacturing |
9,000 |
0 |
| Trade, Transportation, & Utilities |
27,800 |
400 |
| - Wholesale Trade |
7,800 |
100 |
| - Retail Trade |
15,400 |
100 |
| - Transportation, Warehousing, & Utilities |
4,600 |
200 |
| Information |
3,500 |
0 |
| Financial Activities |
8,700 |
100 |
| Professional & Business Services |
14,000 |
900 |
| Education & Health Services |
19,000 |
300 |
| Leisure & Hospitality |
13,100 |
200 |
| Other Services |
5,000 |
100 |
| Government |
19,100 |
400 |
| Source: Job Service N.D., Current Employment Statistics |
Employment by Occupation
| Occupation |
Employment |
| Management |
5,080 |
| Business & Financial Operations |
4,700 |
| Computer & Mathematical Science |
3,940 |
| Architecture & Engineering |
1,970 |
| Life, Physical, & Social Science |
-- |
| Community & Social Services |
2,210 |
| Legal |
-- |
| Education, Training, & Library |
6,530 |
| Art, Design, Entertainment, Sports, & Media |
1,440 |
| Healthcare Practitioners & Technical |
5,800 |
| Healthcare Support |
3,650 |
| Protective Service |
1,420 |
| Food Preparation & Service Related |
11,100 |
| Building and Grounds Cleaning & Maintenance |
4,350 |
| Personal Care & Service |
3,990 |
| Sales and Related |
14,550 |
| Office & Administrative Support |
20,720 |
| Farming, Fishing, & Forestry |
490 |
| Construction & Extraction |
5,890 |
| Installation, Maintenance & Repair |
4,760 |
| Production |
6,450 |
| Transportation & Material Moving |
8,500 |
| Source: BLS, Occupational Employment Statistics, May 2010 |