North Dakota Oil Boom Driving Economic Development

According to Fox Business, the oil production boom in North Dakota is continuing to spur rapid economic growth in the state, analysts say. Since 2009, employment has soared more than 60% in the Bakken Shale area's 12 counties, according to the Federal Reserve Bank of Minneapolis. As a result of the influx of workers, the city of Williston saw "$470 million in construction and remodel permit valuations" in 2012 and the construction of 12 new hotels since 2010.

Source: February 11 article on Fox Business Online, which was included in the February 13 AGC SmartBrief e-newsletter.

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