MAGIC Fund Approval

Posted: Apr 07 2015
Why is Minot an advantageous location for business? The Minot Area Development Corporation strives to attract businesses that would be best fit for our community and to diversify/strengthen Minot's economy. With different primary business sectors looking at Minot as a possible business location, it's time for Minot to showcase its competitive edge!

MADC is partnering with the North magicfund15.jpgDakota Department of Commerce to produce a Minot specific analysis that will enhance MADC's efforts in recruiting primary sector businesses to Minot. The North Dakota Department of Commerce and MADC is collaborating to hire IHS Global, Inc. as a consultant to perform the analysis. MADC was awarded up to $40,000 in total cost of MAGIC Fund dollars to aid their half of the hiring costs.

As construction season is approaching MADC considers this analysis to be time sensitive and has requested that IHS Global, Inc. complete the study within a 6-8 week time period. The specific analysis will include:
1. Identify and relate Minot's advantages to potential value-added projects
2. Minot's weaknesses/limitations and assess impact on potential value-added projects
3. Assess the expected supply of ethane and other byproducts available to a Minot location
4. Assess the feasibility of a pipeline as an option for delivering NGL feedstocks to Minot
5. Identify a listing of value added energy companies that would be the best fit for the value-added projects in Minot
6. Assist MADC in developing a presentation and take away piece for potential clients
7. Consultant will participate in the first 2 client presentation to prospective clients to ensure all questions can be answered by MADC for future client presentations

MADC is thankful for the support of the MAGIC Fund Steering Committee and the Minot City Council for approving the MAGIC Fund request. This study will provide tangible reasons as to why Minot is an advantageous location for businesses.