Prairie Business April 2022

NURSING STUDENTS IN THE REGION ANSWER THE

CALL TO SERVE

A LOOK AT TRENDS IN COMMERCIAL REAL ESTATE

PAGE 16

WHAT ONE SOUTH DAKOTA SCHOOL IS DOING TO ENHANCE CYBERSECURITY RESEARCH PAGE 18

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Th eC it yofN ew Ul m, Mi nn es ota ,k ne wt ha tift he yw an te da th ri vi ng co mmuni ty,t heyn ee de dtop rov id ea th riv in gc ul tu re, st ar ti ng wi thth er eno va tio na nd ex pa ns io noft he 35 -yea rold Ne wU lm Re cr ea ti on Ce nt er.W it had es ig nl ed by JLG Ar ch it ect s, Ne wU lm ha sb ec ome th er egio n’se picen te rf or social ga th er in g,ho li stic we ll -b ei ng ,a nden te rtain me nt beyo nd yo ur wilde st wo rkou td re am s.He re,eve ry gene ra tio nc an fi nd thei rf un wi th exci ti ng adv en tu re sj us ta ro un dt he co rn er,w all, trac k, co ur t, pl ayground ,a ndpo ol .N ew Ul mRec re at io nCenter is bui ld in gas tr onger,m or ev ib ra nt co mmun it yw it hf unand fi tn es st ha te leva test he eve ryday.

WHY TOPPERFORMING ORGANIZATIONSARECREATING ACULTUREOFSECURIT Y

who is responsible fora culture of security?

Ultimately,manyorganizationsbelieve securitylieswithintheirITdepartment. However, cultureisn’tsetbytheIT department. Atruecultureofsecurity begins with atone at the top.

Ask yourself:

Whatsteps haveyou takentoidentify and protectyourmost valuable IT assets?

Whatisyourlevelof confidencethatyour businessnetwork(s)anddataaresecure?

What areyour biggestconcernsrelated to IT securityandcyberattacks?

Top-performing organizations seek to aligntheir cybersecurity risksto overall businessrisks andobjectives.

TheFiveStagesof Cybersecurity

As aleadingcybersecurity consulting firm, we’veseenour fairshareof effective andineffective security practices.Hereare thefive stageswe recommendasorganizationscreate comprehensive,in-depthcybersecurity action plans

> Stage1: FoundationalSecurity

> Stage2: PoliciesandAwareness

> Stage3: KeyProcesses

> Stage4: IncidentPreparedness

> Stage5: SecurityMonitoring

Whileeachhastheir ownunique benefits,atruecultureofsecurity relies oneach stage working together forpeak efficiencyand protection.

Stage1: FoundationalSecurity

Thebestplansbeginwiththeproper foundation.Stage 1assessesbasic functionswithin yourorganizationand commonentrypoints forpotential cyberthreats,providinganongoing “healthcheck” foryourIT.

From yourprocesses to your tools, network,andsecuritypractices,smart business is allaboutadapting to change and remainingsecure.Becausethelast thingyou want to doisleave yourself— and yourdata—out inthe open.

Thisincludesthingslike:

> Administrative Access

> Data Backup &Recovery

> EmailSecurity

> EndpointProtection

> NetworkSecurity (Firewall,IDS/IPS, etc.)

> Multi-factorAuthentication

> Password Manager

> Wireless Security

Stage2: Policiesand Awareness

Oncethe foundationis laid,it ’s time to setupthepolicies youneed to keepthingsrunningefficientlyand securely.Thisincludesanacceptableuse agreementand awriteupof company cybersecuritypolicies.Thisshould includedisasterrecovery, business continuityandworkfromhome standards,amongothers.

Youneed to makesuretheindividuals utilizingthesepoliciesunderstandthe “why.”Awarenessand continual educationwillbevital to thesuccess of yourpolicies. Afterall,attentiveness to cybersecurityriskinthe workplace reallyiseveryone’sbusiness.

Fromsecuritytraining to emailphishing exercisesand remoteworkereducation, it ’s importanttoprepareandeducate your staff,astheyhavethegreatest ability to expose your organizationand leave itmorevulnerable to cyberattacks.

Stage3: KeyProcesses

Nowthatyou’ve checked your current systemsandhave propereducationin place foryourpeople,it ’s time to align keyprocesses.Ideally, theseprocesses willcenteraroundareaswhereyour organizationhasexposedvulnerabilities andincreasedrisk.

By: MichaelNouguier | Aversionofthisarticleoriginallyappearedoneidebailly.com.

Cybersecurit yisthe combinationofpeople,processes,products andtechnologythatprotectyouandyourorganizationfrom cyberattacks.It’sa criticalpracticeaimedatprotectingyourdataandthe sensitiveinformationyourclientsentrustyoutohandle.

Cybersecurit yisnotabout aspecifictoolorproduct. Rather,it’samindset shif twithinanorganization.It’smovingfrom reactivetoproactive. Creating acultureofsecurit yiscrucialtomakingsureyourorganizationis implementingthenecessar ytoolsandprocessestominimizerisk. Thiscultureisdrivenfromthetopdownthroughexecutivedecisionsand internalpromotionofeffectivecybersecurit yprocessesandprocedures.

What inspires you, inspires us.

Typically,theseinclude:

> AssetInventory

> MobileDeviceSecurity

> PatchManagement

> Security forRemoteWorkers

> StandardConfiguration

Youshouldalsosetup regularprocesses forvulnerabilityscanning.Cybersecurity riskisongoing, soprocessesmustbe routinely updatedtoaddressthe everchangingthreatlandscape.

Stage4:IncidentPreparedness

Thereisalwayspotential foranincident to occur,andtheworst time to plan is duringoraftertheincident.Preparation iscritical to minimizingthe impactof anincidentandessential forbuildinga culture ofsecurity.Integratingproper systems,processes,and awareness practices canlead to lowerdowntime and lessen thefinancialimpactof anincident.

Creationandimplementationofa proactive incidentresponseplanisvital to thesuccessof recovering.Incident responseishowyou respond to anattack whenithappens.Theprimarygoalof incidentresponseis to minimizedamage by quickly responding to anincident whilepreservingnecessaryevidence to preventfuture attacks.

Anincidentresponseplandoesnothave to belengthyoroverly complex.

Anidealincidentresponseplanshould:

> Definewhatanincidentis

> Identify whois responsible(both internallyand externally) forassisting in response to anincident

> Outlinetheprocessofidentifyingand respondingtopotential incidents

Astrong, well-documentedincident responseplanmakes forbetterprepared organizations.In fact, NetDiligence’s CyberClaimsStudyReportnotesthat incidentresponsepreparednesssaved organizations$2million on average.

Once aplanisinplace,itisbestto exercise yourplan to identify gaps and efficienciesthatcanbemade.Doingso preparesthe teamsinvolved to respond quicklyandeffectively to anincident.

Stage5:Securit yMonitoring

Thelaststage focusesonongoing support.Afterall,maintaining aculture ofsecurityis aconstant process.

Afew ways companies canensure securitymonitoringinclude:

> SIEMSolution: ASIEMaggregatesthe logdata from variousservices(e.g., endpoints,anti-virus,firewall, etc.)

and cancorrelate events to provide bettervisibility of activitywithinyour network.

> 24/7SOC(SecurityOperations Center): Analystsconstantlymonitor forand respond to anomalies identifiedwithinyournetwork.

> ThreatHunting: Searching your network forcommonattack tactics andindicators of compromise.

> ManagedSecurityServiceProviders (MSSPs): Offloadingthemonitoring andhuntingin your environmentto athird party to manageyoursecurity stack.MSSPsonlypresent relevant data to organizationssotheycan focus onwhatreallymatters.

HowtoEstablish aCultureof Security Establishingacultureofsecuritybegins with atop-downapproachthataligns cybersecurityriskwith businessgoals. It ’s morethan justprotecting your systemsanddata—italsoinvolves proactive processesthatfocuson securitybasicsand continualeducation. Cybercriminalsare relyingonhuman errorand fear to helpthem gainaccess. Properpreparationandvigilancewithin yourcybersecurityprogramwillhave the greatest impact in preventingsuccessful attacks.

To learnmoreabout howdata anal yticscan help yourorganization, visiteidebailly.com.

Aftertwo yearsofimprovisationandunexpectedchallenges, many businessesarereadyto look forward.Whetherapplying lessons learnedorseizingnewopportunities, ownersare seekingcapitaltohelpthemstarttheirnextchapters.For many small businesses,a loanfromthe U.S.SmallBusiness Administration(SBA) mayhelpthem make theshiftfrom “surviving”to “thriving.”

As youconsider ways youcanimprove andgrow your business,besuretoconnectearlywithapreferredSBA lender.TheyknowtheparticularsofSBA lendingand have experienceworkingwith businesseslike yours.Herearefive questionstoask yourselfand yourSBA lender:

IS AN SBA LOAN RIG HT FO R MY BUSI NESS?

TheSBA managedemergency loansandgrants duringthe COVID-19pandemic, but itsbreadand butteris lending programs designedto leveltheplayingfieldforsmall businesses.Theyoften don’t have majorphysicalassets forcollateral,soSBA loansfocusmoreoncashflow when evaluatinga loanapplication.Andtheyoften have longer repaymenttermscomparedtocommercial loans,somore cashstaysinthe businessmonth-to-monthtosupport operations.

CANI AD D AUTO MATION TO HELP EN DU RE TH ETIGHT LABO R MARKET?

What investmentswillhelp your businessthrive?For many businesses, attractingandretaininglaborisbothachallenge andasignificantcost.Itcanbethebottleneckthat holds backgrowth.Aninvestmentin automation mayhelp your business do morewithfeweremployees,so youcanfocus onretaining yourbestworkersandstill have capacityto serveandgrow.Automationcan rangefrom manufacturing machinestoonlinepaymentprocessingcapabilities.

DO ES MY BUSI NESS MODEL NEED RETOOLING POSTCOVI D-19?

Someorganizations hadtogo leantosurvive thepandemic, whileother businessesreachednewheights.There maybe opportunitiestorethink businessfromtheground up.Do you want toshiftfromsit-downdiningtofoodtrucksor delivery? Has demandforaproductskyrocketed,requiringanewor shiftedfactoryline?SBAterm loanscanhelpfinancethese kindsofcapitalinvestments.

CAN

I CHAN GE MY INVENTO RY APPROACH TO BE AT LOGI STICS CRUN CH ES?

Anothermindshiftfollowingthepandemicisthat businesses needtobalancesupplychainswiththecertaintyofon-hand inventory.SBAlinesof creditcanhelpsmall businesses maintainalargerinventoryofnecessarygoodsand materials, whichwillrequireadjusting what normalcashflow and balancesheetswill look like.

HAVE I ACCOUNTED FO R ALL TH E EXPENSES OF MY IM PROVEMENTS?

Newequipment,newemployees,andnewproductsalso have associatedcosts,someshorttermandsomeongoing. Makesure youfactorinthingsliketrainingworkersonnew equipment,bringingonnewsalespeople, leasing storagefor moreinventory,orotherrelatedcosts.AnexperiencedSBA lender hasseenitallandcanhelp youthinkthroughthis.

Thrivingasasmall businesstakesmorethanjustcapital.It takesagoodplanandexcellentexecution,andthat means havinganexperiencedteamon yourside.AlerusisanSBA preferred lenderwitha dedicatedSBAteamthat canguide youthroughthe loanprocessandhelp youthinkthrough yourstrategy. Contactustodayandgetreadyfor what’s next.

W SB A LE ND IN G CA N TA KE YO UR BU SI NE SS FR OM SURV IVI NG TO THRI VI NG

Called to serve

The age-old question – where does the time go? – seems appropriate to ask now. Only four months into the new year, and already a lot of ground has been covered by Prairie Business.

There have been stories about the legal profession, corporate travel, travel and tourism, construction, architecture and engineering, energy, workforce challenges, banking and finance, and taxes.

Prairie Business also already has one contest under its belt for 2022.

The March issue highlighted this year’s Top 25 Women in Business. Next up, Leaders & Legacies coming in July, when the magazine will profile top executives from around the region. The nomination period hasn’t opened yet for that, but look for it before too long on the Prairie Business website and social media pages.

On those social pages, we have been reminding potential readers that they can subscribe to the monthly e-edition with a few simple steps.

To start your FREE subscription, go to grandforksherald.com/newsletter and click on the Prairie Business monthly e-edition.

And just like that, you’re signed up. All you have to do then is watch for the next issue to show up in your inbox.

Thank goodness for technology, which, by the way, is one of the topics in this month’s issue. Dakota State University is leading the charge on a new initiative to increase cybersecurity research in South Dakota, and Jeff Streff at Vantage Point offers tips for individuals and businesses to stay safe while online.

Sam Easter reports on trends in commercial real estate, and there’s a story about the nursing shortage and what institutions of higher learning are doing to help meet those workforce demands.

The nursing story is the one I am most excited about this time around, not because I wrote it but because my mother-in-law answered the call to serve in the nursing profession years ago and I have seen firsthand her dedicated service to the profession.

I know it was not always easy for her to juggle the long hours and demands. My mother-in-law is someone who has worn her heart on her sleeve, with many people both in and out of the hospital being the recipient of her compassion.

To my second mom and to all of those who answer the call to serve, wherever you may be and in spite of extra shifts and long hours and many other challenges, thank you!

Andrew Weeks

I look forward to hearing from you at aweeks@prairiebusinessmagazine.com or 701-780-1276.

PUBLISHER

KORRIE WENZEL

AD DIRECTOR STACI LORD

EDITOR

ANDREW WEEKS

CIRCULATION MANAGER BETH BOHLMAN

LAYOUT DESIGN JAMIE HOLTE

ACCOUNT MANAGER

NICHOLE ERTMAN 800.477.6572 ext. 1162 nertman@prairiebusinessmagazine.com

Prairie Business magazine is published monthly by the Grand Forks Herald and Forum Communications Company with offices at 375 2nd Avenue North, Grand Forks, ND 58203. Subscriptions are available free of charge. Back issue quantities are limited and subject to availability ($2/copy prepaid). The opinions of writers featured in Prairie Business are their own. Unsolicited manuscripts, photographs, artwork are encouraged but will not be returned without a self-addressed, stamped envelope.

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ADDRESS CORRECTIONS

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ONLINE www.prairiebusinessmagazine.com

Answering the call to serve

By Andrew Weeks

When Collette Christoffers first became a nursing assistant years ago, it didn’t take her long to fall in love with the work. She enjoyed visiting with her senior patients, hearing their stories, and helping care for them.

“It was a passion,” she said. “It was like, ‘Yep, this is what I’m supposed to do.’ I enjoy taking care of others, but also helping them reach their goals.”

Christoffers today works as interim division chair and associate professor of nursing at Mayville State University, and said the position allows her the best of both worlds, nursing and teaching. She is especially happy to help train a new generation of nurses, especially during the continuing crunch of a nursing shortage. It’s a shortage that likely will not end anytime soon.

“Without decisive action, nurses will practice under increased stress,” according to the American Nurses Association. That means the likelihood of more nurses leaving the profession. “As the health

care system is strained by an aging population and broadened access to public health care, it will be nurses that feel the weight of patient responsibility on their shoulders.”

The report also said it is expected this year that more than 500,000 seasoned nurses will retire and more registered nurse jobs will be available in the U.S. than any other profession. Referencing the U.S. Bureau of Labor Statistics, it said the field will need about 1.1 million new nurses “for expansion and replacement of retirees.”

Mayville State is one of a number of schools in the region that is helping to meet workforce demands amid the worry and wonder of the future of the nursing profession.

Some Challenges

The nursing shortage is nothing new, nor is it the cause of any one problem. It stems from a variety of causes, including the obvious: senior nurses retiring and not enough qualified newbies to take their place. But it also comes from nurses feeling burned out and

NURSING STUDENTS AT NORTH DAKOTA STATE UNIVERSITY IN FARGO WORK WITH SIMULATORS IN THE NURSING LAB. THE SIMULATORS ARE HIGH-FIDELITY MANIKINS THAT DEPICT HUMAN ACTION AND REACTION TO MEDICAL PROCEDURES, INCLUDING MEDICINES. IMAGES: COURTESY OF NDSU

As the nursing shortage continues, schools in the region are trying to attract and graduate more nursing students

who decide to leave the field for less stressful jobs, a situation exacerbated by the pandemic.

Christoffers said she has witnessed the challenge firsthand.

“There’s a definite impact that the COVID-19 pandemic has had on the nursing profession,” she said. “Nursing is a caring profession. A lot of nurses wear their heart on their sleeve; they want the best for their patient and to treat the patient holistically, as a whole person.”

Because of the respiratory virus, patients were isolated, families couldn’t visit, and that alone put an emotional strain on nurses, she said – not to mention the burnout that many have felt by pulling extra shifts because of the increased number of hospitalized patients.

“There are so many different situations that can happen in the hospital and COVID just made things more complicated,” she said. “That stress fell to all of the health care disciplines, but nurses are the ones with patients most frequently, out of all the disciplines. Nurses are at the bedside 24/7.”

Carla Gross, associate dean of North Dakota State University School of Nursing, echoed similar sentiments. The profession is “losing some nurses in practice because they’re simply exhausted with the workload and the stress and everything,” she said. “And I think that vaccine hesitancy has been difficult.”

She said it’s tough working in a profession that encourages vaccinations while having so many naysayers against the recommendations.

Another challenge is the increasing number of traveling nurses, who often are paid more than staff positions and make it difficult for hospitals to compete.

Gross said while traveling nurses have their place, there are some issues that facilities should consider. For instance, TNs usually are not as invested as staffed nurses.

“It creates a very big challenge because health care facilities then lose the nurses that are there full time, who are committed to policy, to quality care and those kinds of things, the everyday work that hospitals or long-term care agencies need to do,” Gross said. “It creates a really difficult time on the units.”

continued on page 14

Sheena Fetzer TeamLead MemberSupport MemberSuccessDivision

NURSING STUDENTS AT NDSU PRACTICE ON A SIMULATOR.

continued from page 13

She said the number of traveling nurses has risen considerably during the past two years and “wages have gone up astronomically to the point that it is unsustainable.”

Altru uses traveling nurses, but mostly to fill slots that staff is unable to, said Janice Hamscher, Altru’s chief nursing officer. “We’ve actually just brought that number down a little from what we have been dependent on, largely because we’re seeing fewer hospitalized patients with COVID and that reduces the demand for travel nurses,” she said. “We’ve also created a number of incentives for our existing staff to contribute additional hours, and we try to create a balance there, because we don’t want to burn out the team that we have. Recognizing they can’t fill all of the needs, we fill the remaining (slots) with travel nurses.”

During the course of her career, Hamscher said she’s worked through many nursing shortages. But this one beats them all.

The sources Prairie Business spoke with said there is not any one area of health care that needs nurses more than others. Rather, it is a need in all nursing disciplines, including behavioral and mental health.

“I will say that prior to the pandemic, we actually were sitting in a pretty good spot,” Hamscher said, noting that Altru had been successful at hiring and onboarding nurses. And then the pandemic hit, and similar to other industries, “we’ve had turnover for a variety of reasons – people deciding to retire, folks relocating,” she said. “Travel nursing became very popular because of the high rates of pay, and so many staff nurses desired to go do that. Here we are now in the midst of a national shortage, more so than we have been in for a long time.”

Schooling Future Nurses

Schools in the region are doing what they can to help with the nursing shortage, attracting students and trying to place them in health care facilities across the region.

Nursing students at the University of North Dakota, for instance, currently rotate at facilities in rural areas, according to Stephanie Christian, chair and clinical associate professor of nursing at UND. She said the school is trying to expand some of those partnerships to get students into more critical access hospitals across the state.

UND’s College of Nursing & Professional Disciplines admits about 64 students per semester, but Christian said it is a “very competitive” admission process.

The number was down during the height of the pandemic, a temporary trend that she said was noticed in schools across the state. The last admission cycle saw numbers back up, not only due to a better social environment because COVID numbers have decreased but because workforce demands and salaries have increased.

She said staff at the school have been creative at attracting nursing students while maintaining quality and making sure students have good clinical experiences.

Christian said UND continues to make adjustments to ensure its nursing curriculum meets current and future needs of health care.

“It always seems like there are the comments, ‘oh, you’ve got lots of applicants, just let them in.’ We wish we could, but we also know they need to be able to have places, like hospitals and other care settings, that we can get them into and have them supervised.”

NDSU, in Fargo, attracts nursing students from near and far.

It offers bachelor of science, LPN to BSN and RN to BSN tracks, among others. Its pre-licensure BSN program in Fargo accepts

NURSING STUDENTS AT NDSU ARE EXCITED TO GET OUT INTO THE HEALTH CARE FACILITIES AND MAKE A DIFFERENCE, SAYS CARLA GROSS, ASSOCIATE DEAN OF NORTH DAKOTA STATE UNIVERSITY SCHOOL OF NURSING.

I WILL SAY THAT PRIOR TO THE PANDEMIC, WE ACTUALLY WERE SITTING IN A PRETTY GOOD SPOT.” AND THEN THE PANDEMIC HIT, AND SIMILAR TO OTHER INDUSTRIES “WE’VE HAD TURNOVER FOR A VARIETY OF REASONS – PEOPLE DECIDING TO RETIRE, FOLKS RELOCATING. TRAVEL NURSING BECAME VERY POPULAR BECAUSE OF THE HIGH RATES OF PAY, AND SO MANY STAFF NURSES DESIRED TO GO DO THAT. HERE WE ARE NOW IN THE MIDST OF A NATIONAL SHORTAGE, MORE SO THAN WE HAVE BEEN IN FOR A LONG TIME.

- JANICE HAMSCHER, chief nursing officer at Altru

about 64 students each semester, or about 128 a year. It also has a nursing program in Bismarck, where it works closely with Sanford Health, and which accepts about 96 students a year.

“We really acquired Bismarck as part of our land-grant mission to meet the workforce needs across the state,” Gross said. “That was a great opportunity to try to help meet workforce nursing needs in western North Dakota.”

In 2020, NDSU moved its nursing lab into the adjacent Aldevron building, where there’s a state-of-the-art simulation center.

Simulators, basically high-fidelity manikins connected to a computer, portray a live person and help give nursing students a more direct approach to what it’s like working with a real patient. The manikins can talk, breathe, emanate lung and heart sounds. Some manikins even simulate the breathing process, and they can react to medications.

“They respond in a way physiologically that a human being would respond to a specific drug,” Gross said.

But only so much education can take place in the labs.

“You really want to get them taking care of real-life patients and families,” she said. “There has to be a nice balance or your outcomes are not going to be what you want.”

Gross said pre-nursing numbers at the school remain strong, and that students in the program are excited to get out into the health care facilities and make a difference.

“I can tell you that our students are excited to practice,” she said.

A Call to Serve

Christoffers, of Mayville State, said the RN to BSN program started at her school in 2014 and is completely online. There’s benefit to that, she said, especially for those in rural communities.

“That’s one of our biggest draws to the program,” she said. Also, students can earn their bachelor’s degree in as little as 12 months.

Mayville offers scholarships for nurses from Altru, Essentia and Sanford and has contracts with multiple counties across North Dakota for students who need clinical placements.

That’s where the pavement hits the road – nurses being placed in clinics and hospitals, where they can answer the call to serve.

Christoffers, who fell in love with nursing years ago, said the profession to her has always been an admirable one and she is just as excited today to see others answer the call as she was when she answered it. It’s a call with returning benefits.

“I think nursing is something that everybody is going to come in contact with sooner or later,” she said. “They know that nurses are there to help them. That is what we’re called to do. That is what we’re trained to do. We have that purpose. I don’t want to get too philosophical, but for me, I feel like it’s a calling. I feel like it is something that I was meant to do. That’s when I feel like I am filling my cup. I guess it’s like this: I help others because I can, and it helps me because I feel like I’m making a difference.”

The new commercial office

By Sam Easter

The 701, a coworking space in downtown Grand Forks, is the kind of place that you’d expect would be flattened by the pandemic. Its operating model brings people together, out into public – instead of working from home.

But Maggie Brockling, executive director of the group that manages the project, said it’s recovering well from a mid-pandemic slump. Office workers, it seems, don’t always want to work in an office. But they can’t seem to quit human connection, either. One guest, Brockling said, works remotely on quality assurance for a software company in Nevada.

“He comes into the cowering space every week to two weeks,” she said. “He does take time off and works at home, but it seems like he prospers or proliferates because he’s with other people, and he can talk to them.”

The 701, and all the perks it provides for would-be home office denizens – from social interaction to conferencing tech – captures the current moment in post-pandemic culture. Office workers are heading back, yes, but not to the same world that existed before 2020. Office space is a different commodity now.

Blue Weber, who heads Grand Forks’ downtown development association, points to one local company whose office has transformed into less of a 9-5 destination and more of a workplace hub, with workers coming and going as necessary.

“Their office space, sure they still have their cubbies and their independent little cubicles,” he said. “They’ve really approached it as ‘the office is now providing a collaborative space.’ When you need to work from home for a day, you can work from home.”

Upper Midwest real estate pros say that’s no surprise. Commercial demands have been scrambled by the pandemic, sent off in new directions that could drive upper Midwest construction and real estate for years to come. The effect is different for offices, for industrial and for retail and more, but it all can be traced back to what COVID has done to working and living and buying habits – all of which are now shaping the new economy.

Zach Frappier is director of realty for West Fargo-based Epic Companies, which handles leasing and development and more. He said local clients are often looking for smaller office spaces – commensurate with fewer demands on a central office.

“I was working with a medical group, and they can do a lot of their stuff remotely … So there’ll be virtual appointments one day a week, and then they’ll come to the office three days a week,” he said. “So the (area) requirements have dropped quite a bit. They were in the maybe 2,500 square-foot spot, and now they’re working in a 1,500 square-foot spot.”

Mark Fabel, executive vice president of development for St. Paulbased McGough, said that in the case of office space, the market doesn’t have stiff demand for new office buildings so much as it has a remodeled approach to the office – emphasizing amenities that make employees want to be part of a central location. The fears that corporations would start dumping office space at high rates, he said, haven’t come true.

But where the market is really booming, Fabel said, is places like

domestic manufacturing and distribution. The pandemic upended global supply chains and demonstrated a vast appetite for goods sold online. Now investors – crowded by competition in those bigger cities – are catching up, and putting capital in buildings ready to accommodate growing supply chains in smaller cities, too, where he points out there’s often less leasable warehouse space.

What the future holds is never easy to predict. But Fabel sees strong demand for distribution and domestic manufacturing networks for years to come. One of the things that will keep driving it, he said, is a growing realization that big projects in big cities can also chase talent elsewhere, too.

“Projects are being pushed further and further out” from big cities, Fabel said. “And they’re leapfrogging to smaller regional cities … because access to labor is stronger.”

MAGGIE BROCKLING, DIRECTOR OF THE 701 OFFICE CO-OP, IS SEEN AT THE SPACE IN EARLY MARCH IN DOWNTOWN GRAND FORKS, N.D. IMAGE: ERIC HYLDEN/GRAND FORKS HERALD

JOSH BITTERMAN, ABOVE, A FENWORKS EMPLOYEE, AND DELORE ZIMMERMAN, BELOW, PRESIDENT OF THE PRAXIS STRATEGY GROUP, WORK ON PROJECTS AT THE 701 OFFICE CO-OP IN DOWNTOWN GRAND FORKS. THE 701, AND THE PERKS IT PROVIDES FOR WOULD-BE HOME OFFICE DENIZENS, CAPTURES THE CURRENT MOMENT IN A POSTPANDEMIC CULTURE. IMAGES: ERIC HYLDEN/GRAND FORKS HERALD

Dakota State University

spearheads a $90 million initiative to enhance cybersecurity research in the Mount Rushmore State

By Andrew Weeks

Dakota State University wants to increase cybersecurity research in the Mount Rushmore State, attract cybersecurity experts to the area, and entice those who work and graduate in South Dakota to stay long term.

It’s a big task, but one that school president José-Marie Griffiths is confident can be met with the help of a $90 million initiative that includes a private-public partnership between the university, the city of Sioux Falls, and the state of South Dakota.

Griffiths calls the initiative both a challenge and an opportunity, the latter because it will expand its cyber-research abilities in Madison and, as part of that expansion, calls for a new research center in Sioux Falls that would create hundreds of new jobs in the community. As such, she envisions Sioux Falls would one day become a major technological center.

The future center, which will open in 2025 and create between 400-500 jobs, will be built on up to 16 acres donated by Sanford Health at the Sanford Sports Complex. It will be owned by the state by way of the Board of Regents and the school.

Griffiths said when the school first opened its Madison Cyber Labs in 2019 there was “a tremendous amount of interest,” but the hangup even now is that graduates are attracted elsewhere for quality work and wages.

“We were losing those students to the coasts, in effect, or to the national labs,” she said. “But we want to keep some of them here.” Griffiths said the initiative supports national security and defense, offers workforce and economic development opportunities, and establishes South Dakota as a cyber state – and it will draw people to the area instead of having them go elsewhere for their livelihoods.

“We started to have discussions about what if we actually had another facility, and what if we grew our capacity to graduate students in that sort of high-end, cybersecurity arena. Then we could seed a cyber-research industry here in South Dakota,” she said.

The plan calls for doubling the number of graduates of The Beacom Institute of Technology in Madison, from 200 to 400 annually by recruiting and retaining faculty, students and staff. This also would create additional jobs.

“The students who we attracted here, for the most part, want to stay because of the lifestyle,” Griffith’s said. Some want to go away and experience the big city or something else, but many of those also want to come back when they want to start a family. So part of the rationale here is, one, we as an institution needed to conduct

STUDENTS

DAKOTA STATE UNIVERSITY PROFESSOR DR. MIKE HAM, RIGHT, TEACHES A NETWORKING CLASS IN THE BEACOM INSTITUTE OF TECHNOLOGY. IMAGE: COURTESY OF DAKOTA STATE UNIVERSITY

DAKOTA STATE UNIVERSITY’S MADISON CYBER LABS OPENED IN 2019. IMAGE: COURTESY OF DAKOTA STATE UNIVERSITY

ARE SEEN MEETING IN THE BEACOM INSTITUTE OF TECHNOLOGY WITH PROFESSOR DR. CHRIS OLSON, ATTENDING VIA TELEPRESENCE ROBOT. IMAGE: COURTESY OF DAKOTA STATE UNIVERSITY

research in order to maintain our lead in cybersecurity education and research. Second, South Dakota wants to keep more of the graduates that we generate in South Dakota. … Those goals have now come together in this plan for an expansion of our Madison applied research lab into Sioux Falls.”

A further view of the partnerships and plan look like this: Money will come from several partners, including T. Denny Sanford, who has donated $50 million over five years to construct the expanded applied research lab in Sioux Falls. Another $30 million comes from the state of South Dakota proposed by Gov. Kristi Noem in this fiscal year’s budget request; $10 million from the city of Sioux Falls to create the physical, organizational, and programmatic infrastructure needed for the new center; and $250,000 from Forward Sioux Falls for planning a Cyber/IT Park in Sioux Falls.

“We talk about creating a cyber-research industry, or supporting the cyber-research industry in South Dakota, but in a way we’re really creating a cyber-innovation path in this part of South Dakota between Madison and Sioux Falls,” Griffiths said. “We’re really creating this cyber-innovation hub, and our intent with that is … having the collection of expertise in South Dakota will attract others to come and locate here.”

When online, ‘We should always be careful’

By Andrew Weeks

When it comes to the internet, one should always use caution.

That’s according to John Streff, IT security specialist of Vantage Point, a technology consulting firm based in Mitchell, S.D. He said computer users should remember simple tips to help protect themselves against cyberattacks. That goes for businesses, too.

and holding them hostage until money is paid to unlock the system. Clicking on a dangerous link, unbeknownst to the user, is a simple action that can carry serious and costly consequences. Likewise, the best way to protect against cyberattack also involves simple tasks.

Jeff Streff

Good advice, since about half of the attacks are aimed at small businesses that do not have enough security measures in place, according to an article by Finances Online, noting that “Financial losses from cybercrime exceed the total losses incurred from the global trade of all illegal drugs.”

Vantage Point, which troubleshoots and consults on security for telecommunications and broadband, has clients across the country and in other parts of the world. Streff said a primary focus is the financial world. He and his team conducts security audits of banks and other financial institutions “so we can find any problems before the bad guys,” he said. Afterward, they give detailed reports about what the companies can do to correct errors and better protect themselves.

But every business should use diligence when it comes to protecting information online.

“We’re in cybersecurity and broadband and they’re both growing like crazy,” especially as more employees work remotely, Streff said. “They need good internet in their home, so there’s always a need for good broadband. And security, of course, is becoming more important all the time with all of the threats that we face.”

He said there is an increase in ransomware – and that means there are a lot of phishing emails sent out that try to trick people into clicking on dangerous links. If someone clicks on such a link, ransomware can be downloaded onto the computers, freezing systems

“I’d say the biggest issue I see is people not doing the basics,” Streff said. “Like maybe they’re not using strong passwords, or they’re not updating their computers, or they’re clicking on links or opening attachments because they’re not expecting all of these things that we think are so simple and basic to cybersecurity. That’s really what starts a lot of the large-scale data breaches. … It’s forgetting the simple things. … Most breaches would be stopped if you do the most simple things.”

He said his team always stresses the importance of training employees how to do their work securely, “because it doesn’t matter how good your firewall is if users are willing to click on dangerous emails.”

Some of the simple tips Streff suggests:

• Update computers regularly.

• Keep your antivirus installed and up to date.

• Install only reliable, known software.

If you’re uinsure of a link that has been sent in an email, hover the cursor over it to see where it’s going to take you before deciding to click on it. Do not click on anything suspicious.

When using the cloud, Streff said there are some built-in safeguards but also some settings that are non-default that the user should turn on. Access controls, he said, are really the most important for cloud security.

If there’s a server that’s supposed to be private, make sure that only certain IP addresses can reach it.

Streff also stresses the importance of using two-factor authentication whenever possible.

“That way, if your password gets compromised, the attacker can’t get into your account unless he’s got your phone or another device,” he said.

“We should always be careful.”

A RENDERING OF DAKOTA STATE UNIVERSITY’S APPLIED RESEARCH LAB, A SPECIALIZED FACILITY TO BE BUILT IN SIOUX FALLS. THE CENTER WILL TENTATIVELY OPEN IN 2025. IMAGE: COURTESY OF JLG ARCHITECTS

FMWF Chamber selected for national workforce training program

The effort aims to increase access to high-quality credentials for adults of color

MOORHEAD, Minn. • The Fargo Moorhead West Fargo Chamber of Commerce has been chosen to participate in a new national program.

The Chamber is one of seven organizations selected for the program by the Association of Chamber of Commerce Executives (ACCE) to help strengthen chamber of commerce partnerships with community colleges and organizations in an effort to increase the number of adult learners of color who earn an industry-relevant credential or degree.

“We are excited to collaborate with our partners, the Kurdish American Development Organization, North Dakota State College of Science, and Minnesota State Technical College to address inequitable workforce challenges existing within our community,” Jenna Mueller, Chamber workforce and talent strategist and principal investigator, said in a statement. “Together, we are ready to approach existing systemic challenges in a unique way that promotes meaningful change.”

Partnerships between chambers of commerce and community colleges have the potential to significantly increase the number of adult learners of color completing high-quality, relevant short-term credentials and degrees.

The Chamber said to support the development of these partnerships, and to increase the number of workers with in-demand credentials and degrees, Lumina Foundation has provided a grant to jumpstart progress.

Essentia

The ACCE Foundation (ACCEF) and American Association of Community Colleges identified a virtual cohort of teams from seven regions. Each team will be comprised of a chamber, a community college partner and an organization that directly represents minority communities.

The FMWF Chamber will team up with North Dakota State College of Science, Minnesota State Community and Technical College and The Kurdish American Development Organization to identify the barriers to credential attainment and create quick-win solutions to address those challenges.

They will join teams from six other regions on monthly virtual convenings to gain access to national subject matter experts, receive customized technical assistance and engage in peer-to-peer learning activities to create a strategy for longer-term collaboration to build their momentum after the grant period ends.

The other communities participating in the program include: Aurora, Illinois; Chattanooga, Tennessee; Cleveland, Ohio; Des Moines, Iowa; North Central Massachusetts; and Tallahassee, Florida

“We are grateful for Lumina Foundation’s continued support for the catalytic leadership chambers of commerce provide in the communities they serve,” said ACCE President and CEO Sheree Anne Kelly. “Strong cross-sector partnerships are crucial to addressing workforce challenges, building resilient local economies and creating opportunities for everyone to thrive.”

Health to study impact of hyperbaric oxygen on

post-concussion adults

FARGO, N.D. • Essentia Health-Fargo says it will launch a “hyperbaric oxygen for post-concussion” study to examine the impact of hyperbaric oxygen on adults who have persistent symptoms from concussion.

This study will be led by Dr. Olayinka Ajayi, a hyperbaric medicine physician; Dr. Paulina Kunecka, a neurologist; and registered nurse Sharon Hanson.

“My team and I are excited to begin this vital study designed to explore any sustained therapeutic effect hyperbaric oxygen may have among patients who are suffering due to persistent concussive symptoms,” Dr. Ajayi said. “We are hopeful that this study will provide these individuals with a path to a better quality of life.”

Patients participating in this study must have experienced an episode or episodes of concussion and still be experiencing related symptoms. The concussive episode(s) must have occurred more than three months ago and less than five years ago. Patients must be referred to this study by another health care provider. All referrals should be made to the neurology department at Essentia Health-Fargo.

Participation includes once-daily treatment of an investigational drug or placebo; 42 on-site visits in the first three months and,

subsequently, four more visits over the next 21 months until the study-closeout visit; and the monitoring of side effects throughout.

This study is a collaboration between Essentia, the Dakota Medical Foundation, the University of North Dakota and the state of North Dakota.

Hyperbaric oxygen therapy (HBOT) involves breathing pure oxygen in a pressurized environment. In a hyperbaric chamber, the air pressure is increased 2-3 times higher than normal air pressure. Under these conditions the lungs can gather much more oxygen than normal. The blood then carries this surplus of oxygen throughout the body, helping it fight bacteria, recruit stem cells and promote healing.

In 2021, Essentia Health-Fargo began to offer the first hospital-based HBOT in the region. Currently, Essentia uses HBOT to treat 14 conditions approved by the U.S. Food and Drug Administration, as well as the Centers for Medicare and Medicaid Services.

Conditions already treated by HBOT include decompression sickness, certain serious infections, bubbles of air in blood vessels and wounds that might not heal as the result of diabetes or radiation injury.

The Village Family Service Center plans new topics for ‘Business Bite’ series

FARGO, N.D. • The Village Family Service Center will host three new topics in the coming months for its “The Business Bite” series. Tanya Fraizer, Village Employee Assistance Program trainer, will lead three free webinars this spring with topics addressing addiction, physical activity in the workplace and caring for aging parents.

The webinars are scheduled from noon to 1 p.m. one Wednesday a month in April, May and June.

Registration for each is available at TheVillageFamily.org/Eventbrite.

• Substance Abuse and its Impact on the Workplace, April 13, explores the effect of substance misuse on organizations and colleagues.

• Let’s Get Moving! Physical Activity within the Workday, May 11, teaches participants how to break the cycle of sitting and become more aware of office ergonomics.

• Navigating the Balance of Work and Caring for Aging Parents,

June 8, offers advice for employees who are dealing with this physically and emotionally demanding chapter in life, as well as for their organizations.

These webinars are part of The Business Bite, a continuing series of online lunch-hour trainings hosted by The Village Business Institute. Previous installments of The Business Bite can be viewed at TheVillageFamily.org/Webinars.

Tanya Fraizer

The Village Business Institute is a program of The Village Family Service Center, which strengthens kids and families across Minnesota and North Dakota through behavioral health services. These include mental health counseling, in-home family therapy, financial counseling, The Village EAP and more. For more information, visit TheVillageFamily.org.

Arvig invests $19.9 million in projects to improve internet service in rural Minnesota communities

PERHAM, Minn. • Arvig says it will invest $19.9 million in construction projects to improve internet access and upgrade networks in seven rural Minnesota areas in 2022.

The company is entering the sixth year of a 10-year commitment to use its share of funding from the FCC’s Alternative Connect America Cost Model (ACAM) to build and improve internet networks in rural areas. This year, crews will service the rural areas of Audubon, Morgan, Parkers Prairie, Perham, Red Del, Vesta and Walnut Grove.

When construction is complete later this fall, residents in the affected areas will have access to internet speeds up to 1 gigabit per second, as well as television and phone service.

“Arvig is pleased to continue this long-term effort to improve internet access in rural Minnesota,” said David Arvig, vice president and

ARVIG SAYS CREWS WILL BE WORKING THIS YEAR TO IMPROVE INTERNET ACCESS AND UPGRADE NETWORKS IN SEVEN RURAL MINNESOTA COMMUNITIES: AUDUBON, MORGAN, PARKERS PRAIRIE, PERHAM, RED DEL, VESTA AND WALNUT GROVE. THE COMPANY HAS BEEN BUSY UPGRADING NETWORKS THE PAST FEW YEARS. THIS IMAGE WAS TAKEN NEAR PELICAN RAPIDS, MINN., DURING A FIBER CONSTRUCTION PROJECT IN 2019. IMAGE: COURTESY OF ARVIG

chief operating officer. “Arvig is committed to bringing high quality broadband services to these communities in 2022.”

In January 2017, Arvig elected to accept a share of ACAM funding for the next 10 years and will work to systematically build out services to census blocks that have been identified by the FCC.

The Crossroads development to be built at high-visibility site in Fargo

New office and commercial complex planned near Interstates 29 and 94

By Andrew Weeks

Land that sits at the crossroads of Interstates 29 and 94 in Fargo will see a drastic transformation over the next few years as it turns into a corporate park, aptly named The Crossroads. Located on more than 50 acres at the southwest corner of the two interstates, The Crossroads will include a mix of office, finance, education, medical, technology and retail space.

The project is under development by North Dakota Rep. Rick Berg of the Berg Group and Tim McShane of Minneapolis-basedMcShane Development.

Berg said he’s had his eye on the property for about 30 years, knowing that the location, when developed, would be prime real estate for companies because of its high visibility.

“It’s the only place in North Dakota where two interstate systems cross and everything is developed all around it,” he said.

Multiple partnerships, including with the city of Fargo, have brought Berg’s 30-year ambition to this point. Formerly, pieces of the land had different owners.

“We’ve brought the two main parcels together under one ownership so we could create a master plan, which really wasn’t able to happen before now,” he said.

Berg said there will be the potential to build 500,000 square-feet of office space on the property. Preliminary plans depict multiple buildings, some which could have substantial space of 100,000 square feet.

McShane, originally from Fargo and who remembers shooting his BB gun in the empty fields when he was young, said he is excited about what the project could mean not only for businesses who take up space there but for the community. He said it is prime real estate to attract companies from outside the region because they would receive great exposure.

THESE IMAGES DEPICT THE FUTURE DEVELOPMENT, THE CROSSROADS, WHICH WILL BE BUILT NEAR INTERSTATES 29 AND 94 IN FARGO, NORTH DAKOTA. THE PROJECT IS UNDER DEVELOPMENT BY NORTH DAKOTA REP. RICK BERG OF THE BERG GROUP AND TIM MCSHANE OF MINNEAPOLIS-BASED MCSHANE DEVELOPMENT, AND WILL INCLUDE A MIX OF OFFICE, MEDICAL AND COMMERCIAL, AMONG OTHER BUSINESSES. IMAGES: COURTESY OF GOLDMARK COMMERCIAL REAL ESTATE

“I think for the community, it’s the epicenter, the front door,” he said. “It’s an excellent location for what I’ll call a commercial campus. … But I think in addition, what it can do for the Fargo community is, we’re embarking on an outreach program to reach companies beyond Fargo-Morehead, beyond North Dakota.”

This year will see infrastructure development take place at the site, with buildings most likely starting to be constructed in 2023, McShane said. There also will be the chance to lease buildings if a company doesn’t want to build.

Andy Westby, president and commercial broker at Goldmark Commercial Real Estate, which is selling the lots and doing branding for the project, said lots will be available later this year.

“I’m an optimist,” Berg said about the chance of seeing buildings begin construction later this year, though because of the time it takes for permitting, design, et all, it likely would not be until sometime next year before construction starts. McShane said he sees that happening by summer 2023.

The wait is OK, since the big hurdles have been crossed. And it is the location the group is most excited about.

“Anybody who is looking for long-term prominence, there’s no better spot,” McShane said. “No better spot.”

“Instant name recognition and visibility, it’s really hard to put a price on that but it’s extremely valuable,” Westby said.

He said he saw this firsthand when his own company gained greater name recognition after moving to a high visibility location along I-94 at 25th St. S.

The intersection at The Crossroads, according to the information sent from the partners, has the highest traffic counts in North Dakota, with McShane noting that more than 71,000 vehicles per day travel that stretch of I-94. “Add that to the over 58,000 vehicles per day on I-29 here and it just makes sense for a business hub to live at the intersection,” he said.

3D models have been created to depict what the complex will look like when complete. (See accompanying images.)

“It illustrates our best intentions and what we believe the site could look like. It’s going to show some very large buildings, it’s going to show some smaller buildings,” Westby said.

“The key thing is, we have a lot of flexibility on this site to accommodate a range of uses,” Westby said. “We’re excited about the opportunity to provide this type of exposure to businesses, because there is just very little supply of land facing the interstates until you get on the far extremes. … When you talk about the magnitude and the volume for traffic in this location, this is about it for putting your name in that type of central location and high visibility area.”

Berg said: “I think, really, what I get excited about is the number of great businesses we have here in our area and giving them the presence and the visibility in a site like this. I think it could be really powerful for recruiting employees and the growth of their business.”

The power of branding starts with a good story

By Max Kringen

With the average person seeing 4,000 to 10,000 advertisements per day, brands have to work harder than ever to cut through the noise.

Creating a strong brand – complete with a memorable name, eye-catching logo, and a consistent visual identity – is essential to the success of any business or organization. But it’s not enough; if we really want to stand out, we need to dig a little deeper.

Now more than ever, we are all seeking connection with each other and with the brands we give our money to. In order to capture the attention of today’s consumers, we need to give them something to connect to. We need to show them who we are and what we stand for.

We need to tell a story.

At Tellwell, we believe story is the most powerful way to introduce your brand, educate and engage your customers, and

remind them why they love you. A timeless logo and beautiful website get you views. A good story gets you loyal followers and repeat customers.

So, first things first: what makes a good story?

Great stories are universal. A story should take a piece of the human condition and insert it into a unique situation.

Great stories have a clear structure. They move along a defined path that is consistent and can be followed by an audience.

BUT, great stories are also surprising or unexpected. An audience loves a twist. Keep things interesting and put a spin on your story.

Great stories have a character to root for. We all want to root for someone who is battling the odds and facing adversity.

Now, you’re probably thinking, “Well that’s all fine and good, but how do I do it?”

At Tellwell, we use a framework called the Hero’s Journey to help our clients (and ourselves!) craft clear, concise, and engaging brand stories. The Hero’s Journey is a tool as old as storytelling itself. It originated in mythology, was popularized by Joseph Campell, and can be seen in just about every blockbuster movie and bestselling novel on the market. Now, thanks in large part to the work of marketing legend Donald Miller, it’s being used to help brands share their stories.

The Hero’s Journey has helped nonprofits, individuals, and businesses of all sizes clarify their message and connect with their audiences. Walking through the Hero’s Journey can be an hourslong workshop by itself, but for the sake of time (and word limits), I’ll break it down into the basics.

First, we need to choose a character, or “hero”. Everybody wants to be the hero of their own story. In order to establish a connection with our customer and give them a reason to trust us, we must cast them as the hero in our story.

Next, our character encounters a challenge that they can’t overcome by themselves. Just when they are beginning to feel discouraged, they meet a guide – that’s us! – who understands their plight and has the knowledge and experience to help them overcome it.

When we reposition ourselves as the guide instead of the hero, it conveys to our customers we care, we know our role, and we’re so confident in what we do that we are certain we can help them reach their goals. Finally, the guide provides the hero with a plan and inspires them to action so they can achieve success and avoid failure and doom.

The Hero’s Journey framework allows us to incorporate all of those components of a good story – a universal truth, a clear structure, an unexpected twist, and a lovable character–into a narrative that can inform the way we write web copy, social media content, emails, press releases, video scripts, and more.

But first, it forces us to do some intro spection. When was the last time you sat down to think–really think – about why your business or organization exists? What problem were you creat ed to solve? What makes you unique ly capable of solving that problem? Trust me–your customers, donors, and stakeholders want to know the answers to those questions.

From the cautionary tales our ancestors shared around camp fires to the fairytales we read as children, humans are hard-wired to remember stories. With a well-told story (and some help from the Hero’s Journey), you can cut through the noise and create connections your audience won’t forget.

MAX KRINGEN IS FOUNDER AND CHIEF STORYTELLER AT TELLWELL, A MULTIDISCIPLINARY COMPANY BASED IN FARGO, N.D.

Rising Rates

By Andrew Weeks

Chris Wolf views the financial world through a particular lens. He readily admits he is not an economist, but sees trends in the industry from his view of working with clients in the region.

Wolf is northern valley market president of Alerus. If there is a phrase to describe what he sees in the region it is that the region is economically strong. That’s a good situation to be in, especially with the anticipation of rising interest rates.

As of this reporting, he said “interest rates are still at low levels.” But what happens as they rise?

The region will still be in a good place – as long as rates don’t rise too quickly.

“That would result in an increase in costs to businesses and individuals, which, if that were to happen too fast, would result in slowed or decreased economic activity,” Wolf said.

“The economy in this region has been strong. When an economy is strong, you would, with increased inflation, expect interest rates to rise. The economy can handle a certain amount of that and still be strong. The balance is they don’t want to increase rates so quickly that it cools off the economy.”

The good news is that rates typically rise at a slow pace.

Sunil Swami, chief investment officer at Alerus, said there are other costs of higher interest rates, such as the increased cost of financing, which can result in compressed valuations of stocks and real estate. “However,” he said, “when rates rise because of economic growth it implies that the economy is strong enough to accommodate higher interest rates, which is positive.”

The geopolitical climate, including Russia’s invasion of Ukraine, can have an impact on decision-making regarding interest rates here at home.

“For example, higher oil prices can increase inflation, which might push the Fed to increase rates more than they would otherwise,” Swami said, and that as of late February, the market expects about six rate hikes of about 0.25% each in 2022.

Debbie Albert, a financial advisor at TrueStone Wealth Management in Grand Forks, said she expects rates to rise.

“We feel interest rates are probably on the rise,” she said in early March. “We have seen interest rates very low for so long, it’s almost time for them to normalize. And that’s good and bad.”

Regional economy is strong enough to handle rising interest rates – as long as they don’t increase too quickly

On the positive side, she said it is good for those who are saving their pennies, those who generally use interest-bearing accounts –savings, money market accounts, certificates of deposit – because they have seen such a loss in their returns by diffusing those types of investments.

“So that’ll be a plus for that area of the market,” Albert said.

It also is good for retirees and older individuals who use their investments for retirement income, which particularly have been hit with low interest rates.

As an example, she said, if someone had $100,000 at 4.5%, it generated $4,500. When it drops a point, that’s a hundred bucks.

“They feel that,” she said. “That’s real money to that sector of the market.”

With increased rates, they get that money back.

Albert said as rates rise, there could be an impact on mortgages, as homeowners may see an increase in their monthly payment.

“Those individuals that have taken adjustable rate mortgages out in the past may see a surprise as they see the mortgage interest rate increasing due to the rate slow down. It could slow down because it now becomes more expensive,” she said. “The sector of the market that carries your higher mortgage balances are typically your firsttime homebuyers. They have higher mortgage balances – those in their late 20s and early 30s just starting out with their home. That’s the area that’s probably going to get affected most. On the other hand, those sitting on the fence looking at market rates and wanting to buy a house, this might get them in the market quicker.”

Donovan Schumacher, mortgage banker and Red River Valley sales manager at Alerus, said the federal government was purchasing mortgage-backed securities and reinvesting its dividends back into the market in the second quarter of 2020, which drove interest rates down and kept them low.

FREE E-EDITION OF PRAIRIE BUSINESS

“The government then announced it would stop investing their dividends, and eventually start selling off many of the mortgage-backed securities it had purchased,” he said. “This sparked the slow rise of interest rates beginning late in the third quarter of 2021 and continuing through today.

He said rates will most likely settle at 4% to 4.5% on 30-year fixed mortgages and 3.125% to 3.5% on 15-year fixed mortgages, “but there’s still uncertainty on where rates are heading. Adjustable mortgage rates have been comparable to fixed rates, so most people have been opting for fixed-rate mortgages to avoid potential rate fluctuations.”

When inflation is high, he said, so are mortgage rates; as inflation declines mortgage rates should settle down as well.

He said something people can do to help protect themselves is make sure they have good credit, something that is achieved over time and not gained all at once.

“Over the last 10 years, the average interest rate on 30-year mortgages has been in the 4.125%-4.25% range,” Schumacher said. “To get the best rates, it is very important to take good care of your credit score. Credit scores impact several aspects of buying a home, from interest rates to the cost of homeowners’ insurance.”

Wolf, using his professional lens, said he isn’t too worried about rising rates as long as they’re slow and steady. Construction, manufacturing and other industries continue to develop and grow in the region – there is “a lot of activity, a lot of projects” here, he said – all signs of a healthy economic atmosphere.

“A rising interest rate environment can still be healthy for the economy in this region as long as they don’t increase rates too rapidly,” he said. “Our client base is projecting to grow their businesses and invest in this region, and we expect that to continue throughout 2022.”

Q.INSIGHTs & INTUITION

In what ways does your business give back to the community?

Twylah Blotsky President & CEO Butler Machinery Fargo, N.D.

The Butler leadership team values stewardship of communities across our region. We set examples by giving back to these communities and believe that support through time and donations helps organizations grow together and strengthens character through building relationships and putting others before self. Butler offers a generous associate volunteer program to provide our team opportunities to support organizations of their choosing.

I remain professionally engaged in the equipment industry, serving on the Lignite Energy Council Board of Directors and the Pioneer Equipment Dealer Association, and personally through organizations such as the Theodore Roosevelt Medora Foundation and the Ralph Englestad Arena.

The Northern Lights Council Boy Scouts of America is close to my heart, and I have been an active member at the pack and troop levels since 2002, continue to serve on a variety of council committees and was fortunate to receive the Corporate Community Service Award in 2018. We are a proud member of the United Way’s Tocqueville Society, and our team promotes United Way campaigns annually at the store level. The Butler team’s charitable giving also includes support to local FFA chapters across our region, local fire departments, veterans, and other impactful organizations across our Midwest territory.

Like so many generous companies in our region, Bell Bank believes strongly in giving back to the community. One of our core values is “paying it forward by giving back to the communities we serve,” because we know our customers and friends are the reason for our success.

Bell Bank has a unique Pay It Forward initiative that inspires all of us – and we’re proud that it has inspired other organizations around the country as well.

Every year, every full-time employee at Bell receives $1,000 and every part-time employee $500 to pay it forward as they choose to individuals, families or organizations in need. (In celebration of our milestone of reaching $10 billion in assets, our generous owners increased this to $5,000 for full-time employees and $2,500 for part-time employees, in 2022-23.)

This program has opened all of our eyes to the needs around us, and it is part of what motivates our team members to come to work every day with “pay it forward hearts” ready to help others. To date, Pay It Forward has empowered more than $21 million in giving where our employees see the greatest need.

Julie Peterson Klein EVP/Chief of Staff and Chief Culture Officer Bell Bank Fargo, N.D.

We value our role as neighbors and contributors. The Cornerstone Bank team lives this value day in and day out. Our team members are experienced in helping their local community through their work at the bank. They know what local businesses are facing and how economic booms come and go. Through our needs-based approach, Cornerstone Bank team members work to find the best possible financial options.

Our team members are also very experienced in the local community outside of the bank. We’re trusted beyond banking because we’ve lived in our communities for generations, and we’re more than experienced people – we’re people who will do what it takes to help our neighbors thrive. Our team members are very active in their communities in leadership positions for local organizations; on ambulance squads and fire departments; as mentors; through volunteering for youth programs; by working on community beautification; and in many other roles. The amount of hours that our team puts into giving back to the community is staggering.

Cornerstone Bank also has a Matching Gifts program where we match team member donations to local charities. We are proud to support the charities that our team members support.

Jeff Thomas President/Chief Executive Officer Cornerstone Bank Fargo, N.D.

Owner, Founder WELL & Company Alexandria, Minn.

WELL & Company’s commitment to the community is evidenced through providing price transparency and high-quality health care. The health care landscape is continually changing and the importance of being an informed consumer is essential. From the beginning, WELL & Company has been a direct reflection of our own community’s needs – offering membership opportunities for both individuals and families, as well as small businesses who desire to offer an alternative to traditional insurance for their employees. Additionally, our belief that every individual deserves quality health care is the reason behind our Charitable Care program, which is offered to patients undergoing financial strain.

As a small business in a growing community we recognize the importance of pouring into upcoming generations of professionals. Partnering with our local high school, we partake in a CAPS Program (Center for Advanced Professional Studies), through which we are able to immerse students in real-world learning experiences in our professional clinic and medical spa settings. Different seasons bring different opportunities to give back to the community and we hold those to the highest regard. Being able to invest in the people that support and sustain us is humbling, to say the least.

Saundra Lauer

ESTABLISHMENTS, VACCINATIONS AND INCENTIVES

COVID-19 vaccinations were required for some or all employees before coming to work onsite at 17.5% of U.S. establishments. Among these establishments, 45.9% offered vaccination incentives to their employees. Among establishments with 1 to 4 employees, 40.8% offered vaccination incentives. By comparison, more than three-fourths of the largest establishments (500 to 999 employees and 1,000 employees or more) that required vaccinations to work onsite offered vaccine incentives.

WORKERS WITH DISABILITIES

The employment–population ratio – the percentage of the population that is employed – for people with a disability was 19.1% in 2021. That was an increase of 1.2 percentage points from 2020. The ratio for those without a disability, at 63.7% in 2021, increased by 1.9 percentage points over the year. Data for both groups reflect the impact of the COVID-19 pandemic on the labor market. The lower ratio among people with a disability reflects, in part, the older age profile of people with a disability; older people are less likely to be employed regardless of disability status.

WOMEN IN HEALTH CARE

Source: U.S. Bureau of Labor Statistics

In 2021, 16.4 million women were employed in the health care and social assistance industry. This was 77.6% of the total 21.2 million workers in the industry. Looking at the component industries that make up health care and social assistance, women counted for 75% of total employment (5.2 million) in hospitals, 77.4% of total employment (8.3 million) in health services, except hospitals, and 84% of total employment (2.6 million) in social assistance.

WORKERS WITH DISABILITIES 2

The unemployment rates for persons with and without a disability both declined from 2020 to 2021, to 10.1% and 5.1%, respectively.

Source: U.S. Bureau of Labor Statistics

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