Thursday, April 9, 2015

More On The Taxable Sales And Purchases, North Dakota, 4Q14 -- The Boom Is Over -- Atlantic Monthly; Which Sector Did The Best? Utilities

Read this post first for this to make sense. 

4Q14 taxable sales and purchases.

% change year-over-year
  • Bismarck: $512 million (a paltry 1.6% increase)
  • Dickinson: $380 million (a huge 15% increase)
  • Grand Forks: $338 million (less than the anti-growth city; actually decreased slightly)
  • Minot: $439 million (a 3% increase)
  • Fargo: $773 million (a respectable 4% increase)
  • Watford City: $83 million (an incredible 63% increase, 7 years into the Bakken boom)
  • Williston: $1.002 billion (it is what it is)
% change year-over-year
  • Cass County: $891 million (a paltry 4% increase)
  • Burleigh County (Bismarck): $516 million (an even more paltry 2% increase)
  • Grand Forks County: $349 million (actually decreased; -1.5%)
  • Stark County (Dickinson): $408 million (huge -- 15% increase)
  • Ward County (Minot): $460 million (a paltry 3% increase)
  • Williams County: $1.279 billion (11% increase; it is what it is)
Did I mention that we are into the eighth year of the North Dakota Bakken boom?

From the Jamestown Sun:
Overall, North Dakota saw a 16.7 percent increase in taxable sales with the city of Bottineau seeing the largest increase at 567 percent. The next largest increase was Watford City with a 66 percent increase in taxable sales.
The only sectors of the North Dakota economy that saw declines in taxable sales between 2013 and 2014 were construction and education, health care and social services.
Taxable sales of utilities saw the biggest increase at 89 percent.
I wonder if a new million-dollar intersection traffic light in Bottineau accounted for the city's $567% increase in taxable sales and purchases year-over-year?

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