WILLISTON (AP) - City officials are seeking help to build more homes to keep pace with the booming oil industry
City officials held a "Build Williston Day" on Wednesday to bring together developers, bankers, contractors and others. More than 80 people registered for the event from throughout the U.S.
Mayor Ward Koeser said the goals were to show off the community and help developers see the opportunities.
City officials estimate there could be more than 5,000 new oil wells drilled in North Dakota over the next three years. That means thousands of new workers coming into the area.
Tioga Economic Development Director Jodeen Bergstrom-Dean said many people who left the region are now looking to come back but cannot find homes.
"A lot of us are wanting to move back to this area, but keep in mind we're coming with families," she said. "Trying to find affordable housing is tough for these families who want to come back."
An official from Halliburton Co., the Houston-based oil services conglomerate, said the company has 300 workers in the region but about a third of them are living in hotels.
Mike Marcil, CEO of Marcil Group, which has new apartment buildings in Williston, said bankers are leery of investing in the city, which has suffered bust cycles before.
"You have to be willing to be creative with your financing," Marcil said. "It is not easy - it is super hard and it's expensive, and you're gonna make a ton of money."
Marcil said he supports incentives for developers.
"We should maybe think about moving incentives to developers that are providing essential infrastructure that will allow us to bring in more workers," he said.
Posted in State-and-regional on Friday, May 23, 2008 7:00 pm Updated: 2:18 pm.
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