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Dave Olson, Published March 29 2013

TRADE TALK: Vaux takes job with GFMEDC

Mark Vaux, who until recently was the economic development and community services director for the city of West Fargo, has accepted a job as executive vice president of business development at the Greater Fargo Moorhead Economic Development Corp.

In his new position, Vaux will focus on primary-sector business retention and expansion. He will be responsible for new-business attraction and location services for firms thinking about moving to the Fargo-Moorhead area.

Vaux will also coordinate efforts to strengthen the area’s technology sectors and will serve as liaison between business and higher education.

Vaux worked for the city of West Fargo for about the past year.

Before that, he worked in the South Dakota Governor’s Office of Economic Development.

He also served as area director for Republican South Dakota Congressman John Thune, who is now a U.S. senator.

Healthy indicators

In other GFMEDC news, the organization has released economic indicators showing that the unemployment rate for the Fargo-Moorhead area is 4.7 percent.

That compares to a national unemployment rate of 8.5 percent, a number that is not seasonally adjusted.

North Dakota’s unemployment rate is 4.3 percent.

The GFMEDC said housing starts in the area so far this year numbered 87, compared to 53 at this time last year.

Third-quarter 2012 taxable sales for Cass County were up 9.4 percent from the same time last year, GFMEDC numbers show.

Interest rates drop

A study that looked at interest rates paid on certificates of deposit and savings accounts in North Dakota shows the rates have dropped an average of 43 percent since 2011.

The study was done by GoBankingRates.com, which is conducting a state-by-state review of interest rates.

Here are some examples of how the rates have changed, on average, in North Dakota from 2011 to 2013, according to GoBankingRates:

• 6-month CD: 0.53 percent average percentage yield to 0.31 percent.

• 1-year CD: 0.85 percent APY to 0.50 percent.

• Savings account: 0.43 percent APY to 0.22 percent.

Clinic to open in Frazee

The new Essentia Health Clinic in Frazee, Minn., will open on April 15.

An open house at the 4,600-square-foot facility at 300 Main Ave. E. is scheduled from 4:30 to 6:30 p.m. April 23. The event will include tours. Appetizers, desserts and beverages will be served.

The clinic is staffed by Dr. Paul Hendrickson and nurse practitioner Karin Halverson, and a nurse and receptionist.

The new facility has four exam rooms, a room for minor medical procedures and a laboratory. It will be open from 8:30 a.m. to 5 p.m. Monday through Friday.


Readers can reach Forum reporter Dave Olson at (701) 241-5555. Dianna Baumann contributed to this article.