North Dakota is in the midwestern and northern regions of the United States. It borders Canada and lies at the center of the North American continent. Bismarck is the capital and Fargo is the largest city. North Dakota was admitted to the Union on November 2, 1889, along with its neighboring state, South Dakota. Its capital is Bismarck, and its largest city is Fargo.
Soil is North Dakota’s most precious resource. It is the base of the state’s great agricultural wealth. But North Dakota also has enormous mineral resources. These mineral resources include billions of tons of lignite coal. In addition, North Dakota has large oil reserves. Petroleum was discovered in the state in 1951 and quickly became one of North Dakota’s most valuable mineral resources. In the early 2000’s, the emergence of hydraulic fracturing technologies enabled mining companies to extract huge amounts of oil from the Bakken shale rock formation in the western part of the state.
North Dakota’s economy is based more heavily on farming than are the economies of most other states. Many North Dakota factories process farm products or manufacture farm equipment. Many of the state’s merchants also rely on agriculture.
North Dakota now leads the nation in a string of economic indicators since the financial crash.
- Its wage growth has been 2.3% a year, compared with 0.8% for the rest of the country.
- 80.9% of the state’s working-age population was working, second only to Minnesota, at 81.1% — again leading the country.
- In hard economics, GDP per capita in North Dakota rose at 3% a year, the fastest in the country; productivity grew at a sizzling at 2.4% annual growth, while it was flat for the rest of the nation.
- North Dakota also had the 10th-lowest poverty rate in the country, at 10.5%; Minnesota was the fourth-lowest at 9.9%.