North Dakota is among the country’s top 10 ethanol producers. North Dakota is also working to further develop their technology, advanced manufacturing, and UAS (uncrewed aircraft systems) sectors.

Reasons for doing business in North Dakota

To encourage economic development, North Dakota offers a number of finance programs and tax incentives that benefit primary-sector businesses (mining, agriculture), as well as other types of industries. The state also offers job training assistance for qualifying businesses.

To help ease businesses through the compliance process, North Dakota has a “First Stop” online portal. “First Stop” provides tools and resources to assist businesses looking to start, expand, or relocate in the state. In its latest Top States for Business report, CNBC gave North Dakota an A+ in the category of “Business Friendliness”.

What is the cost of doing business in North Dakota?

North Dakota is considered to be a tax-friendly state. The corporate income tax rates range from 1.41% to 4.31%. Individual income tax rates range from 1.1% to 2.9%. Personal property is exempt from property taxation except for certain oil and gas refineries and utilities, and items such as electricity, natural gas, and many services are tax-exempt.

How is North Dakota’s infrastructure?

U.S. News and World Report ranked North Dakota’s infrastructure second in the nation, giving the state high marks for internet access and for its transportation and energy systems.

BNSF Railway Company also designated a site in the city of Minot as BNSF-certified. This means that there are shovel-ready sites available with direct access to BNSF Railway, among other things.

What are the challenges of doing business in North Dakota?

One of the least populous states, North Dakota has had to deal with labor shortage issues for some time. Even if a sector has no problem filling positions, it may still be impacted by related services not being able to find workers.

Other challenges include the ability to access capital and extreme weather events (such as drought, floods, tornadoes, and blizzards).

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