Grand Forks is ranked 95th in a recently released WalletHub survey of the 2018 best and worst small cities to start a business .
Other North Dakota cities that made the list are Bismarck, ranked 8th; Minot, 26th; and West Fargo, 33rd.
Aberdeen, S.D., was ranked third, behind top-ranked Holland, Mich., and St. George, Utah.
To determine the best small cities in which to start a business, WalletHub compared the business-friendliness of more than 1,200 small-sized cities throughout the U.S.
In ranking the cities, researchers analyzed data across three key categories: business environment, access to resources and business costs.
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Within this framework, 18 key metrics were reviewed and weighted, including characteristics such as access to financing, availability of workers, education levels of the workforce, office space expense, labor costs, growth in the number of small businesses and startups per capita.
Bigger is not always better when choosing a city in which to launch a startup, according to the WalletHub website. A city with a smaller population can offer a greater chance of success, depending on the type of business and personal preferences.
Smaller cities may offer unique advantages such as lower overhead costs, stronger relationships with customers and the potential to become a big fish in a little pond.
Drawbacks, however, may include lack of connections in a town with fewer residents, limited industry options, a less diverse customer base and difficulty attracting and retaining top talent.
NDSU honors Black Gold Farms President
Gregg Halverson, president and board chairman of the Grand Forks-based Black Gold Farms, has been selected by the NDSU Foundation and Alumni Association to receive its 2018 Alumni Achievement Award.
Halverson and other award recipients were recognized during the annual Evening of Distinction banquet Thursday in Fargo.
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The Alumni Achievement Award honors alumni who have achieved exceptional distinction in their professional field.
Halverson earned a bachelor's degree in animal science in 1971 at NDSU and received an honorary doctorate in 2012 from NDSU.
Black Gold Farms is a family-owned business that produces potatoes and other crops on 12 company-owned farms in 11 states.
Under his guidance, the company has become the largest producer of fresh-crop chipping potatoes in the world and is recognized as an international leader in the adoption of technologies that improve food quality, customer service and land stewardship.
First International Bank opens in Grand Forks
A branch of First National International Bank and Trust has opened in the Columbia Commons strip mall at 1970 S. Columbia Road in Grand Forks.
The new location, the bank's first in Grand Forks, occupies 5,800 square feet of retail space at the south end of the mall, said Wayne Zink, branch president.
"We are very excited to be in the Grand Forks market," Zink said.
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The bank offers full banking services, including retail, business, agriculture and mortgage services, Zink said.
Lobby hours are 8 a.m. to 5 p.m., Monday through Friday. Drive-up hours are the same, plus 9 a.m. to 1 p.m. on Saturday.
The bank, headquartered in Watford City, N.D., operates 21 locations in North Dakota, three in Minnesota and three in the Phoenix area. A fourth location in Arizona is expected to open soon, Zink said.
