Great Forks, ND flood photo courtesy BND

New On Substack | Public Bank versus Public Patronage: The North Dakota BND v. The Minnesota IRRRB

Our journey on Substack continues with a first-hand report by Peter Nickitas in Minnesota on the impact a public bank can make:

“I have lived in neighboring Minnesota from childhood and have noticed significant differences in the economies and infrastructure of the two states. … Fargo and Moorhead are across the Red River of the North from each other. After the Red River flood of 1997, and again 2009, Fargo rebuilt faster than Moorhead. ‘Why?’ I asked.

“The 1997 Red River flood devastated Grand Forks, North Dakota and East Grand Forks, Minnesota. The BND swung into action to rebuild the city. Three years later, the population of Grand Forks had only dropped 3%. East Grand Forks suffered a 17% population decline.”

[Read PBI’s latest Substack]

Now on Substack: PBI News & Views

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Photo courtesy Bank of North Dakota.

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