North Dakota

Overview

North Dakota, like many of the US states, was acquired as part of the Louisiana Purchase in 1803. However, the region was largely unsettled until the construction of the railroad in the 1870s and 1880s. It is the most rural of all states, with farmland covering about 90% of its land. Unsurprisingly, North Dakota has a huge farming industry. It is the national leader in spring and durum wheat, but also produces pretty much everything the climate allows for. Recently, the state’s manufacturing has been increasing. North Dakota also has a plentiful supply of coal and oil. North Dakota is a great place for small businesses due to its low taxes and small but ample market.

Industry Stats

North Dakota has a low and manageable tax rate for an entrepreneur just starting out. The state also has a per capita income significantly higher than the national average, which translates to more disposable income and more profits for small businesses. The state is also a hotspot for small businesses; North Dakota is the national leader in the number of startups per capita.

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