Not time to give up on Bakken

Minot (N.D.) Daily News: It didn’t take long for Watford City’s Alco store to be repurposed. Home of Economy, a solid business name in North Dakota since 1939, has stepped in and will open a new store there later this month.

With oil prices tanking and North Dakota residents trying hard not to say the word “bust” out loud lest their fears come true, some might say the owners of Home of Economy are taking a chance by committing to Watford City even if it is in the heart of the state’s oil patch and therefore more insulated.

The addition of a Watford City store brings Home of Economy’s total number of locations to seven.

The opening of this Home of Economy store comes on the heels of a 2014 major expansion at the Williston location, a 2013 opening of the chain’s largest store in Jamestown, and the 2012 opening of a brand new store in Minot.

So what does having taken that latest risk say about the times and the players? That the smart money isn’t giving up on the Bakken yet, not by a longshot. Believe.