North Dakota's economy was transformed by the Bakken oil boom, which made the state the second-largest oil producer in the nation and created rapid economic growth in the western part of the state.
North Dakota's economy was transformed by the Bakken oil boom, which made the state the second-largest oil producer in the nation and created rapid economic growth in the western part of the state. Agriculture remains foundational, with North Dakota leading the nation in production of spring wheat, durum wheat, sunflowers, dry beans, and honey. The state also has a growing unmanned aerial systems (UAS/drone) industry, leveraging its wide-open airspace and a dedicated UAS test site.
North Dakota offers very low unemployment, no corporate income tax on certain business structures, and a pro-business regulatory climate. The state's Legacy Fund, built from oil revenues, provides fiscal stability and investment capital.
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