Only One Area Has Avoided the Recession: Bismarck

Bismarck, N.D. – Msnbc.com recently posted an article that tout’s Bismarck-Mandan’s resilience to the recession. The following is an excerpt from msnbc.com investigative reporter Bill Dedman’s article published July 17.

Every area in recession except one! Bismarck. “It is a credit to the citizens of the Bismarck-Mandan metro area, that support our economy, to be recognized as the only metro area out of 381 not in recession. It is truly an honor to be the ‘last man standing’!” said Bismarck Mayor John Warford.
 
Overall, the recession continued to spread in May.  The Adversity Index shows that the recession reached every state, and all but one of the nation’s 381 metro areas. The Adversity Index, from msnbc.com and Moody’s Economy.com, measures the economic health of 381 metro areas and all 50 states. Each area is in recession, at risk, recovering or expanding.

That holdout is Bismarck, N.D., which benefits from high prices for its energy products. Housing prices also didn’t run up as high as the rest of the country, so they haven’t fallen so far either. Bismarck is becoming a transportation hub for the region. And North Dakota state government is doing much better than average financially.

“We see this information as a credit to the entire “Team Bismarck-Mandan MSA”, said Russ Staiger, President, Bismarck-Mandan Development Association. “It is this team approach that over the years has represented an ongoing partnership between the public and private sectors and between the two cities. This partnership in turn has allowed us to take advantage of our common economic strengths and deal with the difficult moments when they occur.”

“If you’re flat to what you were doing last year, that’s the ‘new up’ in the economy.  And we are fortunately a little bit up over last year,” Stuart Tracy, chef and owner of Pirogue Grill. Bismarck has moved close to recession, labeled “at risk” by Moody’s, without falling in yet.

“A slowing of personal income growth will lead to a mild contraction in employment in Bismarck,” said economist Glenn Wingard of Moody’s Economy.com, which sells reports on metro areas. “Its healthy housing market and low exposure to Wall Street write-downs will ensure that the downturn will be modest.”  For more information please visit www.bismarck.org or to read the full article visit http://www.msnbc.msn.com/id/31910726/ns/us_news-the_elkhart_project/

Contact:
John Warford, Bismarck Mayor 
Phone: 701-355-1306
Russ Staiger, President, BMDA
Phone: 701-222-5530     
E-mail: rstaiger@bmda.org