Before Christmas, we reported some pretty good news here on the blog: manufacturing is looking strong headed in to 2014, which translates into more jobs and a stronger economy here in Nebraska.
In fact, the start of 2014 bodes well for most Midwestern state economies and unemployment rates. Yes, we may have had to endure a polar vortex–but at least most Midwesterners were cold while still on their way to work!
One reason for this growth and stability is the energy boom in North Dakota. While this has been especially profitable for North Dakota (the state grew five times faster than the rest of the nation in 2012), the majority of businesses in Nebraska have also profited from the geographically close economic growth.
Cole Epley reported to the Omaha World-Herald that the massive growth of oil production in North Dakota is rippling to cities in Nebraska all the way from Lincoln to Sidney. The abundance of natural gas has made electricity cheaper–this results in products manufactured in America being more competitive globally, says Epley.
For those not up to date on current oil mining processes (that’s okay, neither were we), the new natural gas abundance has been made possible by hydraulic fracturing or “fracking,” a new production method that has provided vastly larger supply levels of gas. North Dakota’s fracking is creating jobs by the thousands– there’s even a website specifically for fracking jobs in North Dakota. In the entire country, North Dakota is now the #2 oil producing state behind Texas.
This new industry has also contributed to the growth of facilities in Nebraska related to the industry, such as Adams Industries Inc. in Sidney, Nebraska. Adams transports freight for energy customers, loads and unloads railcars, and coordinates transportation in oil-producing regions with limited or weak infrastructures.
“I would say, over the last five years, it’s probably doubled our operation, both by revenue and employees,” Don Adams told the World-Herald. “It’s expensive to operate in the Bakken, and the infrastructure just isn’t there.”
Other Nebraskan manufacturing companies that have grown as a result of this boom include Castronics LLC and Legacy Design Strategies LLC.
It pays to be a strong manufacturer, and growth in the industry shows no signs of stopping! As North Dakota continues to funnel economic growth to Nebraska, more jobs will be created in the manufacturing field—so it’s the perfect time to join the job hunt. We’re here to help! Comment in the section below with questions or thoughts.