CEO and Chair Letter

In our 2019 annual report, we shared with you significant changes to the organization during our first full year of leadership as CEO and Board Chair. We don’t think any of us could have foreseen that 2020 would present us with even more impactful change as we’ve all worked to address the economic and health impacts of COVID-19. Yet, here we are approaching the conclusion of 2020, and as we reflect on the year, we are proud to share with you numerous accomplishments and the impact on our regional economy.

Our work in 2020 consisted of substantial progress on our three-year (2019-2021) goals of 85 assisted projects, 1,500 new jobs, $250 million additional capital investment, and the utilization of nearly one million square feet of commercial/industrial space throughout the region. Check out the details within the Results portion of this report, but as a sneak preview, we are very excited to announce that we have exceeded nearly all of our stretch goals within the first two years of our three-year campaign.

The Business and Community Development sections of the report provide a wealth of information on our activities and impacts this year, but behind the immediate results is a focus and commitment on continuing to build the key partnerships that will multiply the economic benefits for decades to come. It is our strategic partnerships in education, the public sector, and our three closest non-profit partners – Fueling Our Future (The FMWF Chamber), Valley Prosperity Partnership (Grand Forks Region EDC), and Emerging Prairie – for which we want to share our achievements and continued focus on relationships that create real value for our investors, citizens and all who work and live in our region.

It is with a heartful thank you that we recognize the efforts of so many this year who have gone far beyond the call to position our region beyond this pandemic and toward a brighter future.

And, as always, please let us know how we can continue to support the growth of one of the nation’s most vibrant economies.

Randy Gerhold, Chair, GFMEDC Board of Directors

Joe Raso, President & CEO, GFMEDC