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

  • Although farmland covers 90% of North Dakota’s land, more people work at colleges and universities than on farms in this state.
  • An impressive 7.1% of the state’s workforce is in the construction industry.
  • There were only 4,706 weddings in North Dakota last year, but couples spent a combined $109 million.
  • More people work in mining and support activities than in grocery stores in North Dakota.
  • There is only one dentist for every 59 people in this state.
  • Couples spent an average of $388 for their wedding cake in 2015.

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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