E M C D e v e l o p m e n t G r o u p, L L C
Tapping Into Today's Energy Markets And Building For Tomorrow's Future
Why Energy Markets?
The State that Grew Five Times Faster than the Entire Nation
North Dakota - Education & Housing Sectors Hit Hard
The recent oil boom in North Dakota has boosted the state’s economy at an unbelievably rapid rate, providing thousands of jobs. With the nation’s lowest unemployment rate (2.6%), North Dakota is expected to have a relative 1.72% employment gain in 2014, growing faster than Florida and Texas. (June 24, 2014)
Oil Industry Creates Record Breaking Refinery Construction & Economic Growth
The recent economic growth in North Dakota has continued to surpass the expectations of business leaders throughout the country and even the world. Behind Texas, North Dakota has become the second largest oil-producing state in the nation , providing thousands of jobs throughout the state. This year, Industry leaders are predicting oil output of over one million barrels per day, and this most likely will increase over time.
North Dakota’s economy grew five times faster than the entire nation, and the population grew by over 20,000 from 2012 to 2013, surpassing some of the nation’s leading economies. With the influx of people due to the oil industry, multiple companies are expanding and the economy is thriving for entrepreneurs to open stores and provide services. July 2014
Ten years ago, North Dakota’s idea was to import its oil rather than build additional refineries due to high costs. Since then, the thought process of building them has completely changed. Refinery construction has become the hottest discussion topic in North Dakota, and the state’s political regulations make the construction much easier than other states. The last oil refinery built in the United States was built over 30 years ago. In 2013, ground was officially broken on the first refinery built in North Dakota since 1954, and about five more are being built today.
In addition to refinery development, the retail and automotive dealership industries have also experienced a significant amount of growth due to the spending power of consumers. Car dealerships are growing faster than other parts of the nation, and construction of new retail centers (such as Plaza 619) are underway throughout the entire state. North Dakota can expect sustained growth, and outstanding profitable output as the economy continues to progress.
Wayne Yeager is the North Dakota Architect for Consolidated Construction, and has over twenty years of experience working in traditional architecture firms, specializing in educational, institutional, residential, and commercial markets. Wayne is dedicated to ensuring that the external influences of today and tomorrow interact positively to create buildings that are functional, in harmony with their surroundings, easy on the environment, and relevant for years to come.
North Dakota grew five times faster than the entire nation in 2012 (CNN Money)
And has continued to grow. Although the economic growth provides a large amount of benefits for North Dakota, the housing and education sectors have found themselves in a state of panic. Similar to California, North Dakota is facing some of the same issues: schools, apartments, highways and roads are wearing out faster than they can be built.
Apartments
Housing costs have skyrocketed and risen above what most people can afford, creating a struggle for many. In fact, Williston, North Dakota was recently ranked as the nation’s most expensive city to rent an entry-level apartment and the city of Dickinson also topped the list as well. The cost of living in North Dakota has become even more expensive than New York City and Los Angeles — some one bedroom apartments costing over $2,000 per month!
Education
Every school district in North Dakota is facing the same concerns; schools continue to overcrowd with children and there are not enough classrooms available. There are currently over $120 Million of schools being built in the state, yet it has become a continuous struggle to keep up with building these additional schools due to the rapid population growth. In recent years, Consolidated has been working with local architects and government officials to provide a solution and build additional schools in the state.
EMC Development Group has access to a variety of real estate project opportunities in various stages of development or entitlement. They provide a variety of investment options, from long term holds to shovel ready projects:
Project Investment Opportunities Include:
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Land Banking parcel in the path of growth
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Raw Land to be planned and zoned
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Zoned Land ready for Lot and Parcel Development
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Hotel and Residential sites ready for vertical construction
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Commercial and Industrial sites ready for vertical construction