Overview of North Dakota

North Dakota

North Dakota is a state in the Midwest of the United States, located in the northernmost part of the prairie and encompassing the northern half of the Dakota region. The state covers an area of 183022 square kilometers, ranking 17th among the 50 states in the United States. The capital of North Dakota is Bismarck, and the largest city is Fargo.

Population and Geography

As of 2022, the population of North Dakota is 784000, accounting for 0.23% of the total population in the United States, with the lowest population density in the country. The population of the state is mainly concentrated in cities such as Fargo, Bismarck, and Grand Forks. White people account for 86.6%, black or African American people account for 5.3%, and Asian people account for 1.7%.

Geographical features

The terrain of North Dakota rises from east to west, forming three broad steps. The eastern part of the Red River Valley has an elevation of 250-300 meters, the glacial till grassland has an elevation of 400-500 meters, the Missouri Plateau has an elevation of 550-760 meters, and the White Peak in Slope County in the southwest has an elevation of 1069 meters, making it the highest point in the state. The state has a temperate continental climate, with hot summers and cold winters, and annual precipitation ranging from 356 millimeters to 559 millimeters.

historical background

North Dakota was historically a Native American settlement, named after the Lakota tribe of Native Americans. In 1889, North Dakota joined the Union and became the 39th state of the United States.

Economy and Resources

The economy of North Dakota is dominated by agriculture, energy, and manufacturing. Agriculture is the largest industry in the state, with major agricultural products including wheat, soybeans, corn, sugar beets, and beef. In terms of energy, the state has abundant oil and natural gas resources, especially the development of the Bakken Shale region, which has made it an important oil producing area in the United States. In addition, wind energy and coal are also important sources of energy.

Main cities and attractions

Fargo: The largest city in North Dakota, with rich cultural and historical heritage.

Bismarck: Capital city, political and cultural center.

Grand Forks: has major higher education institutions.

Theodore Roosevelt National Park: located in the northwest of the state, it is a habitat for American buffalo and bison.

Evil Land: A famous natural landscape that attracts a large number of tourists with its unique geographical features.

The economic profile of North Dakota mainly includes the following aspects:

1. Agriculture: North Dakota is an important agricultural state in the United States, with major agricultural products including wheat, soybeans, corn, sugar beets, and beef. Animal husbandry also holds an important position in the state.

2. Energy: North Dakota has abundant oil and natural gas resources, especially the development of the Bakken shale area, making it an important oil producing region in the United States. In addition, wind energy and coal are also important sources of energy in the state. In September 2024, North Dakota's oil production reached 1199764 million barrels per day, highlighting the state's important role in energy production in the United States.

3. Manufacturing: The manufacturing industry in the state is mainly concentrated in the fields of agricultural product processing, machinery manufacturing, and chemical engineering.

4. Service industry: Education, healthcare, and retail also play important roles in the economy of North Dakota.

5. Tax Policy: North Dakota has relatively favorable tax policies, with a maximum personal income tax of 2.9% and a maximum corporate income tax of 5.2%, making it one of the states with lower tax rates in the United States. In addition, the state has tax reduction policies for primary industry enterprises, and newly established primary industry enterprises can be exempt from corporate income tax for the first five years.

6. Geographic location and natural resources: North Dakota is located in the prairie region of the Midwest United States, with vast plains and hills. The Missouri River runs through the state, providing important water resources. The state also has abundant reserves of mineral fuels, especially oil and lignite.

The investment opportunities in North Dakota are mainly concentrated in the agricultural and energy sectors. ‌

In the field of agriculture

North Dakota is a prosperous agricultural state with vast farmland and abundant natural resources. Although the sowing rate and excellent rate of soybeans have been low recently, the rainfall in the coming week is expected to alleviate the drought situation and improve crop growth conditions. In addition, the agricultural environment in North Dakota is superior, suitable for the growth of various crops, providing investors with a broad market and stable potential for returns.

Energy sector

North Dakota is an important energy producing region in the United States, especially for oil and natural gas. In recent years, the state's oil production has significantly increased, mainly due to the popularization of advanced technologies such as hydraulic fracturing and horizontal drilling. In September 2024, North Dakota's daily oil production reached 1199764 million barrels, making it one of the largest shale oil producing states in the United States. In addition, North Dakota's energy policy is relatively open, allowing businesses to enjoy tax incentives and various subsidy reward programs, further attracting investment in the energy sector.

investment environment

The tax system in North Dakota is relatively simple, with a lower corporate income tax rate and no sales tax or personal income tax. In addition, the state also offers various subsidies and incentive programs, attracting a large number of corporate investments. North Dakota has a stable legal and business environment, well-developed infrastructure, and convenient transportation network, providing a favorable business environment for businesses.