Holmes Murphy is expanding into Fargo, North Dakota, as the city rides a construction boom that has deepened demand for construction insurance across the upper Midwest.
The firm, independently owned since its founding in 1932, said the move is driven by its recent growth trajectory. While the physical office has not been finalized, Holmes Murphy said the expansion will strengthen its capacity to serve clients in the region.
"Establishing a physical presence in North Dakota allows us to expand our geographic footprint and further strengthen our ability to serve clients across the upper Midwest," said Jay Reavis (pictured above), Holmes Murphy president of brokerage services.
Reavis added that the Fargo location positions the firm closer to a growing number of construction partners.
The choice of Fargo reflects a city in the midst of a significant building cycle. The $3.2 billion Fargo-Moorhead Diversion Project, a flood control megaproject, is in its final year of major construction, with the Metro Flood Diversion Authority budgeting $1 billion for the project in 2026 alone, the Fargo Forum has reported.
Other projects in the pipeline include a new convention center, a terminal expansion at Hector International Airport and a $50 million Border States warehouse, city officials have noted.
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The broader Fargo-Moorhead metro, home to roughly 261,600 people, is projected to grow to nearly 340,000 by 2045, data from the Greater Fargo Moorhead Economic Development Corporation shows.
Federal Reserve Bank of Minneapolis president Neel Kashkari warned at a February summit in West Fargo, however, that changes to immigration policy risk limiting construction labor supply – a factor that could complicate the construction insurance outlook for builders in the region.
Holmes Murphy is headquartered in Waukee, Iowa, and operates 17 offices across 11 states with more than 1,400 employees. It already has offices in Minneapolis and Sioux Falls, making Fargo a logical gap-fill along its northern plains corridor.
Its Sioux Falls office recently relocated downtown, with roughly 50 employees, Pigeon 605 reported.
To lead the Fargo push, Holmes Murphy hired Mark Julik, tasking him with growing the company's construction insurance book in North Dakota.
Julik brings more than 18 years of experience at Marsh McLennan Agency, where he served as construction practice leader, advising contractors on contract reviews, safety initiatives and risk-transfer strategies. He also spent close to five years at Gallagher prior to joining MMA.
"Mark's depth of experience and perspective will be a tremendous asset to our construction partners and our team," said Dan Etzel, Holmes Murphy SVP, regional sales leader and construction leader.
