Sitting in an agricultural and food product hot-bed, the Grand Forks Region Economic Development Corporation recognized the opportunity in the agribusiness industry. The GFREDC engaged Praxis to complete an industry targeting study and opportunity analysis.
Praxis Strategy Group and N.C. Doty and Associates worked with the Grand Forks Region Economic Development Corporation to complete an agriculture and agri-business strategy for a four-county region around and including Grand Forks. The research and report included the following major elements.
- Competitive assessment
- Comparative analysis of competing regions – including identification of best practices.
- Identification of future opportunities
- Strategy for growing and diversifying the agribusiness industry sector ·
- Identification of investment grade business opportunities The Outcome
The Grand Forks region has continued to see new investments in the food products sector. The study played a part in Northern Plains Nitrogen’s decision to begin the process to locate a $1.5 billion fertilizer plant in Grand Forks County.