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Dave Olson, Published October 18 2013

Trade Talk: New hotel on Fargo horizon

FARGO - Plans are in the works to build a new Four Points by Sheraton hotel at 5064 23rd Ave. S. in Fargo.

The four-story structure could open by next spring or summer, said Joe Lorsung, project manager for Lightowler Johnson Associates, Fargo, the architectural firm that is working on the project with another architectural firm, David-Baumann Architect Ltd., Reiles Acres.

The project builder will be Hospitality Builders, of Aberdeen, S.D.

The hotel will be owned by an investor group led by Harsh Gupta, who is based out of Dubai, United Arab Emirates.

Rising indicators

The Greater Fargo Moorhead Economic Development Corp. reports the unemployment rate for the Fargo-Moorhead metropolitan statistical area was 3 percent in September.

The national nonseasonally adjusted unemployment rate was 7.3 percent at the end of August.

The GFMEDC also reported that year-to-date housing starts in the Fargo-Moorhead area total 1,970, compared to 1,141 last year at this time, a 73 percent increase.

In addition, second-quarter taxable sales for Cass County were $7.8 million, a 1.1 percent increase over the second quarter of last year, the GFMEDC reported.

New Caribou

A new Caribou Coffee shop has opened in the Hornbacher’s Express at 1433 S. University Drive in Fargo.

“Hornbacher’s is thrilled to expand our successful partnership with Caribou,” said Matt Leiseth, Hornbacher’s president.

Four of the six Hornbacher’s stores in the Fargo-Moorhead area now have Caribou coffeehouses and Hornbacher’s plans to add a fifth Caribou at its Northport location, 2510 Broadway, Fargo, before the end of the year.

Tax rankings

North Dakota’s business tax climate ranks 28th out of the 50 states, according to the latest report by the Tax Foundation, a nonpartisan research organization that monitors fiscal policy at the federal, state and local levels.

North Dakota’s ranking in the agency’s 2014 State Business Tax Climate Index was unchanged from the previous year.

South Dakota ranked second among the states in the latest report, while Minnesota ranked 47th.

Readers can reach Forum reporter Dave Olson at (701) 241-5555