Tuesday, November 28, 2023 at 12:00 pmCategories: Industrial Commission, Press Release
S&P Affirms Bank of North Dakota Credit Rating
BISMARCK, N.D. – The Industrial Commission reports that Standard & Poor’s (S&P) affirmed Bank of North Dakota’s (BND) credit rating as A+/Stable in its annual review released Nov. 6.
Wednesday, October 4, 2023Categories: Bank of North Dakota, Industrial Commission, Press Release
BISMARCK, N.D. – Todd Steinwand, President and Chief Executive Officer of Bank of North Dakota (BND), has announced his intention to retire in the second quarter of 2024. An exact date has not been established but he pledged to continue to work with the Industrial Commission (Commission) during the transition. An executive search committee was approved at today’s Industrial Commission meeting.
Friday, July 28, 2023Categories: Industrial Commission, Press Release, Transmission Authority
BISMARCK, N.D. – The North Dakota Industrial Commission (NDIC) has selected Claire Vigesaa to serve as the next executive director of the North Dakota Transmission Authority. Vigesaa retired in 2022 as general manager and CEO for the Upper Missouri Power Cooperative after a 40-year career in the electric cooperative industry. Vigesaa has been serving as deputy director of the Transmission Authority since retirement.
Friday, July 28, 2023Categories: Clean Sustainable Energy Authority, Industrial Commission, Oil & Gas Research Program, Press Release
The North Dakota Industrial Commission, consisting of Gov. Doug Burgum, Attorney General Drew Wrigley and Agriculture Commissioner Doug Goehring, approved $15 million in matching grants and $222.5 million in loans during the latest grant rounds for the Oil and Gas Research and Clean Sustainable Energy programs. Both programs are funded by oil and gas production tax and state mineral royalty revenues. The Oil and Gas Research Program was established in 2007 to provide grants for projects that enhance the production of oil and natural gas in North Dakota. The Clean Sustainable Energy Program was established in 2021 to advance the commercialization of low-emissions technologies for North Dakota’s energy industry.
Thursday, June 29, 2023Categories: Housing Finance Agency, Industrial Commission, Press Release
BISMARCK, N.D. – The North Dakota Industrial Commission has approved changes that will allow North Dakota Housing Finance Agency (NDHFA) to provide mortgage loan financing to individuals and families with a higher yearly income in most counties. They have also increased the acquisition (purchase price) limit for financed properties.
Thursday, June 29, 2023Categories: Industrial Commission, Outdoor Heritage Fund, Press Release, Renewable Energy Program
The North Dakota Industrial Commission, consisting of Gov. Doug Burgum, Attorney General Drew Wrigley and Agriculture Commissioner Doug Goehring, approved $6.3 million in Outdoor Heritage Fund and Renewable Energy Program matching grants. Both programs are funded solely by oil and gas production tax revenue. The Outdoor Heritage Fund was established in 2013 to provide grants for projects that enhance outdoor conservation practices in the state. The Renewable Energy Program was established in 2007 to promote research and utilization of North Dakota’s renewable energy resources, including advanced biofuels.
Thursday, May 25, 2023Categories: Industrial Commission, Lignite Research Program
The North Dakota Industrial Commission approved $11.4 million in Lignite Research, Development and Marketing Program matching grants for seven new research projects. The funding, generated from lignite severance tax as well as oil and gas production tax revenue, supports the growth of North Dakota’s lignite industry through research and education.
Thursday, May 25, 2023Categories: Bank of North Dakota, Industrial Commission
BISMARCK, N.D. – The state-owned Bank of North Dakota (BND) reported total record assets of $10.2 billion at year-end
2022. The growth enabled the Bank to increase its loan portfolio to a record $5.4 billion in loans to the state’s farmers and
ranchers, business owners and students in North Dakota. In addition, the Bank reported a record profit of $191.2 million in
2022, up $47 million from 2021.
Thursday, May 25, 2023Categories: Department of Mineral Resources, Industrial Commission, Oil & Gas Research Program
North Dakota’s regulatory framework for geologic sequestration of carbon dioxide continues to lead the nation as the North Dakota Industrial Commission today approved its fourth carbon capture and storage facility. North Dakota was the first state to receive primacy of Class VI wells from the U.S. Environmental Protection Agency (EPA) in 2018.
Thursday, May 25, 2023Categories: Industrial Commission, Transmission Authority
On May 23, 2023, North Dakota joined three other states and two tribal nations in receiving the first Grid Resilience State and Tribal Formula Grants from the U.S. Department of Energy (DOE). North Dakota was awarded $7.5 million, which will be administered by the North Dakota Industrial Commission through its Transmission Authority. The Grid Resilience State and Tribal Formula Grant program aims to ensure the reliability of power sector infrastructure so that communities have access to affordable, reliable, clean electricity.