June-July 2014

The BAKKEN OIL BUSINESS JOURNAL is a high-gloss, full-color magazine with a targeted distribution that gets our Advertisers in front of the RIGHT EYES in this industry. Direct mailed to Companies in the Bakken with bonus distribution at Energy Shows.

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Page 54 of 75

Read online @ B A K K E N O I L B I Z . C O M / d i g i t a l - j o u r n a l 55 Your Room: • Secure entry • Bathroom • Kitchenette • HVAC unit • Double bed • Satellite TV On-Site Amenities: • Catering facility Mudroom/lockers • Free guest laundry • Satellite TV room • Snack shop • Free Wi-Fi Coming soon: • Meeting room • Gym & half size basketball court • Pool and card tables • Bank / ATM NOW OPEN SUITES AVAILABLE NOW Short and Long-term Rates from $139 Call us now on (701) 586 3800 or visit to reserve! 13021 Highway 85 North, 4 miles west of Watford City Your Home, Your Way Great Lodge American New location in Trenton a one bedroom, one bathroom 'entry-level apartment' in Williston is ahead of New York and Los Angeles. The survey reported that at end of 2013 the average rent for such accommodation in Williston had risen to $2,394 per month. Meanwhile, after analysis of data from a wide range of sources, including mortgage applications, payment-to-income ratios and employment, the Freddie Mac Multi-Indica- tor Market Index released in March 2014, named North Dakota as the most stable housing market in the nation, Strong demand for housing and the stabil- ity of the North Dakota market has drawn a number of innovative and entrepreneurial companies to the state. Those looking to be part of the housing boom include North Da- kota Developments, whose first site – Great American Lodge Watford City – opened at the end of 2013. A second site in Trenton quickly followed, while just over the border in eastern Montana, a third site in Culbert- son is under development. By the end of 2014, the company plans to have more than 3,000 of their executive hotel studios open and available to energy workers. The increase in personal income is another way in which North Dakota is leading the US. According to the US Bureau of Economic Analysis, the state's 7.6% rise in personal income in 2013 was the highest percentage in the nation. The national average for the same period was 2.6%. In another reces- sion-beating feat, North Dakota was also one of only three states where earnings growth exceeded the national average in each of the four years following the economic crisis. (The other two states were Texas and Oklahoma). With so much emphasis on economics and such eye-popping rents, one might imagine the quality of life and wellbeing in North Dakota had suffered. However, it seems that – in this state at least – money really can buy happiness. According to the annual Gal- lup wellbeing ranking, at the start of 2014, North Dakota top- pled long-time front- runner Hawaii as the happiest state in the US. As the impact of North Dakota's energy boom grows, many are waiting with bated breath to see which accolade the state will take home next. North Dakota is already the fastest-growing state in the nation. Based on US Cen- sus Bureau figures, the population increased 3.14% from 2012 to 2013. With the 'Find the Good Life in North Dakota' workforce recruitment cam- paign looking to attract everyone from veterans to fresh graduates in order to meet employment needs, it seems that, so far as North Dakota is concerned, the good times are well and truly here to stay. North Dakota Developments' Robert Gavin concludes, "Despite the record growth experienced across the Bakken region in recent years, I believe we are still only on the cusp of what is to come. North Dakota is leading the US in so many ways. It is truly exhilarating to find out what will be next." ■ Robert Gavin is the CEO of North Dakota Developments. British born, Robert built upon his years of real estate knowledge founding North Dakota Developments in order to meet the urgent need for housing within the Bakken oil fields. Group CEO Robert Gavin comments, "It's been fascinating to see how North Dakota has essentially ignored the turbulence of the US housing market over the past few years. While other states are just returning to pre-recession price levels, Federal Housing Agency fig- ures shows that house prices here rose 39% between 2006 and 2013. Meanwhile data from the Bureau of Labor Statistics puts North Da- kota's unemployment rate at 2.6% again for February 2014, while the national average hovers around 6.7%. It's incredible to watch as the story here continues to unfold."

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