50 in 50: North Dakota, South Dakota, and Wisconsin

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

Our team is putting together new content and a different format to kick off 2023 Word on the Street. For that reason, we will be publishing the remaining states of the 50 in 50 Series in a combined fashion. This week we are featuring the last three states in the Midwest: North Dakota, South Dakota, and Wisconsin

Key Economic Indicators

Measure North Dakota South Dakota Wisconsin
       
GDP (billions) $55.7 $49.0 $302.8
       
GDP 5-year CAGR 0.8% 1.6% 0.9%
       
GDP per capita (U.S.: $58,154) $71,657 $54,702 $52,025
       
Population (millions) .775 .895 5.9
       
Population 5-year CAGR (U.S.: 0.5%) 0.6% 0.6% 0.4%
       
Unemployment (U.S.: 3.7%) 2.3% 2.4% 3.3%
       
Economic outlook ranking #9 #12 #14
       
Fiscal health ranking #2 #5 #17
       
Overall tax climate ranking #19 #2 #27

Compounded annual growth rate (2017-2021)

Top three industries by GDP Growth (last five years):

# North Dakota South Dakota Wisconsin
       
#1     Agriculture, forestry,
fishing and hunting
Mining, quarrying, and oil and
gas extraction
Information
       
#2     Manufacturing Agriculture, forestry, fishing and hunting Military
       
#3     Federal civilian Administrative and support and waste
management and remediation services
Management of companies and enterprises

Areas with the highest population percentage increase in 2021 vs. 2020:

# North Dakota South Dakota Wisconsin
       
#1     Fargo, ND-MN Metro Area Rapid City, SD Metro Area Eau Claire, WI Metro Area
       
#2     Bismarck, NA Metro Area Sioux Falls, SD Metro Area Janesville-Beloit, WI Metro Area
       
#3     Jamestown, ND Micro Area Spearfish, SD Micro Area Green Bay, WI Metro Area

Infrastructure Highlights

North Dakota received a ‘C’ grade on its last report card from the ASCE, with the worst categories being bridges and dams. According to the ARTBA, after one year of Bipartisan Infrastructure Law (BIL), the state has started 358 transportation projects. To date, $130 million has been announced for water infrastructure as well as significant funds for flood protection projects.

South Dakota has not started transportation projects at the same pace as its northern neighbor, but work is underway with large projects on I-90, I-29, and US 81. Over $167 million was recently announced by the Department of Agriculture and Natural Resources (DANR). The funds will be deployed as grants and loans for drinking water, wastewater, and solid waste projects in the state.

Wisconsin’s road and transit infrastructure were graded as poor in its 2020 ASCE scorecard. The state was able to start 719 projects to improve bridges and highways since the BIL passed. A significant portion of funds was tagged for improvements on I-43. Wisconsin is the state with the most lead pipes per capita, which is why service line replacements will be a priority for the $150 million announced thus far for water infrastructure.

AE Industry

AE Industry Metric North Dakota South Dakota Wisconsin
       
ENR 500 firm headquarters 0 0 13
       
M&A buyers since 2018 8 9 24
       
M&A sellers since 2018 7 2 21

For customized market research, contact Rafael Barbosa at rbarbosa@morrisseygoodale.com or 972.266.4955. Connect with him on LinkedIn.

Weekly real-time market and industry intelligence from Morrissey Goodale.

Read Newsletter

The AE industry’s weekly go-to source for the latest information on M&A deals and trends.

Read Newsletter

Bringing you snapshots of key market sectors, business management ideas, and must-know information for managing and leading your firm.

Read Newsletter

Brining you new ideas for impacting people performance including the latest on company culture, work-life balance, time management, developing next-generation leaders, and new management ideas being implemented in other industries.

Read Newsletter

An insider’s look at the latest trends in attracting, recruiting, retaining, and hiring people in the competitive AE industry.

Read Newsletter

A guide to help you better understand how AE firms are valued and – perhaps more importantly – what you can do to build value now.

Read Newsletter

Overviews on what industry consolidation means and forecasts for where activity, deals, and pricing is headed.

Read Newsletter

At-a-glance snapshots of key market indicators in various market sectors and geographies.

Read Newsletter

Achieve goals and outcomes and reshape your future!

Purchase Today!

Subscribe to our Newsletters

Stay up-to-date in real-time.