MADC's 2015 Annual Report

Posted: Feb 02 2016
The Minot Area Development Corporation's 2015 Annual Meeting was virtually introduced by U.S. Senator, John Hoeven. Senator Hoeven thanked MADC's efforts in growing the Minot region and expressed how resilient and vibrant the Minot community is. Senator Hoeven expressed the dedication to pass a strong highway bill that provides ND with $1.3 billion lgIMG_9232.jpgand helps advance over 100 transportation projects across the state. He also congratulated Minot on earning $74 million through the Natural Disaster Resilience Competition. Among other initiatives, Senator Hoeven stated the importance of growing the economy and his commitment to help build a brighter future for Minot and the state of North Dakota.

Nearly 200 attendees gathered at MADC's Annual Meeting to listen to special spokesman, Dennis Haider, Executive Vice President of Business Development at MDU Resources Group, Inc. (MDU). Mr. Haider has 40 years of energy-industry experience with the majority of his time serving in various roles at subsidiaries of MDU Resources. Some of these subsidiaries include, oversight and development of production, pipelines, construction services and utility operations.

MDU's corporate presence is greatly diversified across the U.S., providing electric and natural gas utilities, construction services, and pipeline and energy services. MDU operates in 8 states, 447 communities, and has secured over 1 million customers in electric and natural gas utilities, making utilities MDU's legacy.

MDU has a strong partnership with Minot dating back to the late 1920's, operating as one of the first electric company's known as Minnesota Northern Power Company. MDU greatly values economic development and strives to help grow investments and develop communities. MDU is typically the first one called and takes pride in being a community initiator. Haider described Minot's infrastructure, economy, values, leadership, and economic development as "top notch." There are certain features such as rail access, Minot's airport, Port of North Dakota, ambition for growth, and trade support that sets Minot a part from other communities and states. Haider expressed that Minot should continue to look for abundant natural resources and to focus on converting natural gas locally. He stated that regardless how well an economy is (high or low oil/ag prices); economic development is always and forever needed.

MADC's Annual Meeting also celebrated accomplishments for 2015. Some of these highlights include:
• MADC's strategic planning session, which has established a new direction for MADC to best serve the Minot community
• Laying approximately 12,000 linear feet of rail at Minot's unique advantage, the Port of North Dakota (Port).
• Advocating for the heart of Minot by securing MAGIC Fund dollars to aid Minot's downtown parking structure projects.
• MADC's opportunity to partner with the state to hire IHS Global, Inc. to gain qualified business leads for the Minot community.
• MADC's trade mission to Norway.

MADC's 2015 Chairperson, Darrell Olson, President/CEO of Town & Country Credit Union, shared how MADC's mission takes fortitude and a never give up, never be satisfied, never lose focus mentality. Mr. Olson welcomed MADC's new Chairperson for 2016, Steve Bigelow, Co-Owner of Central Machining & Pump Repair.

MADC President/CEO, Stephanie Hoffart, thanked the City of Minot, Ward County, MADC investors, MADC Board of Directors, and all of MADC's partners and supporters for helping MADC provide for the Minot community. As MADC moves into 2016, they will be aggressively pursuing value-added agriculture and energy businesses to become part of the Port expansion. Ms. Hoffart stated how she looks forward to the new direction and new opportunities 2016 will bring.