Bakken Economy Update, Watford City And McKenzie County -- January, 2019

January economic update for Watford City and McKenzie County:

There’s only one word to describe the economic growth happening in McKenzie County. Stunning. The January 2019 “Economy at a Glance” from the McKenzie County Economic Development office highlights the updated statistics: 

Taxable Sales and Purchases in McKenzie County jumped 51 percent from the third quarter 2017 to the same period in 2018 climbing from $57.7 million to $87.3 million.

Building permits in Watford City tripled from the nine reported in Dec. 2017 to 26 reported in Dec. 2018. 

City Sales Tax in Watford City increased over 50 percent from $3.0 million (YTD 2017) to $4.6 million (YTD 2018) while restaurant and lodging tax jumped by one-third.  

The apartment occupancy rate in Watford City – Brookledge now stands at 95 percent, the same as in Dec. 2018 but up from 64 percent and 27 percent in Jan. 2017 and Jan. 2016, respectively. 

“Looking back at data over the past year helps confirm statistically what we have been experiencing here; an increase in activity," said Daniel Stenberg, McKenzie County Economic Development Coordinator. "Our stores, roadways, and schools have all been operating at a brisk pace. We look forward to what this next year brings in terms of the new opportunities that this activity brings."