BISMARCK — The North Dakota Mill and Elevator Association reported Tuesday record profits of $20.7 million for the 2024 fiscal year — a 20.6% increase from $17.2 million reported in 2023, according to a North Dakota Industrial Commission release.
Located in Grand Forks, North Dakota’s Mill is the biggest and only state-owned milling facility in the country. It was established in 1922 and is overseen by the North Dakota Industrial Commission, consisting of Gov. Doug Burgum, Attorney General Drew Wrigley and Agriculture Commissioner Doug Goehring.
“The state’s capital investments into two new milling units have resulted in record shipment volume of 17.5 million hundredweights of North Dakota Mill product,” members of the Industrial Commission said in a joint statement. “We are grateful for the hard work of the outstanding team at the mill that resulted in new records in grain purchases, gross sales, product shipments and profits, all achieved with an exceptional safety record.”
The mill has transferred 52.5% of the profits — $9,877,704 — to the state’s general fund and $1,039,758 to the agricultural product utilization fund. The remaining profits are used for mill operations, according to the release.
“North Dakota farmers again provided high-quality spring wheat and durum to the mill this year, and we also saw a 10% increase in shipment volumes. Our dedicated employees stayed focused on providing consistent quality products delivered with a high level of customer service,” mill President and CEO Vance Taylor said in the release.
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Publish date : 2024-08-27 11:56:00
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