North Dakota Taxable Sales And Purchases, 2014 Report -- May 12, 2015

Note: I have not checked if all links work. There will be factual and typographical errors. If this is important to you, go to the linked sources.

The state has released 2014 figures for taxable sales and purchases (TSP). There could well be scores of links from media outlets across the country recounting the extraordinary Bakken economy.

The North Dakota state website may be the first site you want to visit.

The state provides a number of reports including the 2014 numbers: https://www.nd.gov/tax/salesanduse/pubs/reports/2014-annual-stat-report.pdf?20150512214333.

In addition, the graph of taxable sales and purchases, 2010 - 2014 at this link:

It would have been interesting to see the graph go back to pre-2007. The Bakken boom began in 2007 in North Dakota. By 2010, the Bakken boom as well underway.

Other sites that readers have sent me (thank you):

• CBS Minnesota
• The Bismarck Tribune

In addition, the tag "Taxable Sales" will take you to any number of posts on the blog related to this subject.

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Some Observations

The slump in oil prices began in October, 2014. It takes awhile for "things to turn." Rig count did not decrease significantly in the fourth quarter of 2014; the rig count in North Dakota started plummeting in January, 2015.

Rig count (according to the monthly Director's Cut):

• December, 2014:  181
• November, 2014: 188
• October, 2014: 191
• July, 2014: 192 

Taxable sales and purchases for the state (numbers rounded):

• TSP, 2013: $25 billion
• TSP, 2014: $28 billion, a 11% increase over 2013

Cities: TSP percentage increases year-over-year for certain selected cities in North Dakota (the state lumps West Fargo / Fargo into one center [Fargo]; they are broken out below); one can easily see that the boom "moved" to (or caught up with) Watford City and Dickinson:

• Bismarck: +0.2%
• Dickinson: a phenomenal 20% increase
• West Fargo: 15%
• Fargo: 4%
• Grand Forks: 0.4%
• Minot: 0.4%
• Williston: 9% 
• Watford City: an incredible 42% increase 
• Killdeer: a whopping 70%
• Alexander: also, a whopping 72%

Year-over-year percentage increases for the state (again, numbers rounded):

• 2014 (over 2013): 10% 
• 2013 (over 2012): 0.5% (interesting, huh?)
• 2012 (over 2011): 30%
• 2011 (over 2010): 40%

Among counties, Dunn County has the highest percentage increase, at over 60%.