News

The North Dakota Industrial Commission (NDIC) appreciates the opportunity to offer comments on the Bureau of Land Management's (BLM) Oil and Gas: Hydraulic Fracturing on Federal and Indian Lands; Recession Rule that seeks to rescind the "Oil and Gas; Hydraulic Fracturing on Federal and Indian Lands" (2015 final rule).

The North Dakota Industrial Commission authorized the Bank of North Dakota (BND) to offer two new loan programs that will assist livestock producers impacted by drought during a special meeting held on Sept 13.

MetroPlains LLC opened the doors to a unique senior apartment complex today. Located in downtown Bismarck, the four-story building offers very desirable amenities and it’s affordable.

Housing organizations statewide will benefit from a grant allocation authorized today by the North Dakota Industrial Commission (NDIC). North Dakota Housing Finance Agency (NDHFA) received permission to distribute $200,000 through its Helping Housing Across North Dakota (Helping HAND) program.

The North Dakota Industrial Commission has approved updated income and acquisition cost limits for the North Dakota Housing Finance Agency’s (NDHFA) homeownership programs. The NDHFA assists state residents, typically first-time buyers, with the purchase of a home by providing low-cost financing and offering down payment and closing cost assistance and homebuyer education.

The North Dakota Industrial Commission has approved a $3 million pilot program through the North Dakota Housing Finance Agency (NDHFA) that supports local Community Land Trusts (CLTs) efforts to create more single-family housing for low- to moderate-income households.

The North Dakota Industrial Commission has approved $1,125,000 in research and development grants for three renewable energy projects. The projects involve research and development of renewable energy technologies and processes that have strong growth potential in North Dakota.

North Dakota is the first state in the nation to apply for and receive approval for primary regulatory authority (primacy) over geologic storage of carbon dioxide, also known as carbon capture and storage (CCS), paving the way for exciting pilot projects that could have major impacts on the state’s energy industry.

Enhancing business diversification efforts and addressing financing gaps in economic development programming were key issues identified in a series of 40 meetings with business and finance leaders, economic development professionals and elected officials across the state in 2016. The outcome of these meetings combined with additional research by the Bank of North Dakota (BND) resulted in a recommendation to the Industrial Commission to enhance four existing BND programs and to implement a new program to assist fast growing companies in North Dakota.

In its 2016 Annual Report, Bank of North Dakota (BND) reported its 13th consecutive year of record profits, with $136.2 million in net earnings. Total assets decreased slightly from $7.4 billion in 2015 to $7.3 billion in 2016. BND ended the year with capital of $876 million. The state’s return on its investment at the Bank was a healthy 16.6 percent.