Seventeen years ago the Red River flooded caused immense damage in Grand Forks and East Grand Forks. It seems natural to take a look at the state of the economy. Certainly there were major changes, and it is important to note which changes had more impact or longer durations than others. The time patch of the Grand Forks experience is also important. Lessons for other communities about what went right, and what went wrong could be gleaned from this nearby history.