ND Tax Sales And Purchases -- Williston In The Midst Of Another Mini-Boom -- 1Q23

Locator: 45936ND. 

Incredible numbers. We'll discuss them over the weekend, if the spirit moves me.

Link here. 1Q23.

Link here. Full year, 2022.

North Dakota Tax Revenue, 1Q22

Link here.

2021 numbers, link here:

North Dakota Taxable Sales Up 12% Over Year Earlier -- February 7, 2022

North Dakota taxable sales: most recently data available --

• 3Q21 taxable sales up 12.1% from same quarter one year earlier
• taxable sales and purchases totaled $5.3 billion; link here;
  

Meta: way oversold on Friday? If so, it's way oversold today. Down another 4% or $10; trading at $226. If you like FB at $323 last week, you should be loving FB at $226 today. Without question, the easiest 10% advance this year will be on FB. My hunch: 20%. 

• 1.2 * 226 = $271. $271 would still be way below $226, and sport a very reasonable P/E. 

Most incredible "seasonal flu" season I've ever seen. Covid-19 literally eliminated "season flu." Link here. 

Global warming: models did not take into account ... drum roll ... clouds. LOL. From The WSJ. The ultra-rich are buying more coastal property than ever and paying top dollar for it.

Carbon capture? Not in my back yard.

Olympics: everyone knows, nobody cares. Lowest ratings ever.

North Dakota Leads All States In Tax Collection Since Great Recession -- State -- Inforum -- January 20, 2020

North Dakota leads all states in tax collection since Great Recession. Link here.

North Dakota once again leads all states in revenue recovery following the Great Recession as it rides stable growth in the Oil Patch even as the farm economy struggles.

Since the peak quarter during the Great Recession, which ran from 2007 to 2009, state tax receipts in North Dakota have risen 71.2% as of the second quarter of 2019, outpacing all other states, according to an analysis by the Pew Charitable Trusts.

North Dakota’s revenue growth was even more impressive as of the end of 2014, when oil prices were soaring, the Oil Patch was booming and state tax receipts skyrocketed 123.9% from their Great Recession peak.

“It’s nice to see we’re in a phase of continued, sustainable growth in all of our revenues,” said Ryan Rauschenberger, state tax commissioner.

Minnesota and South Dakota also were among 45 states where tax revenues rebounded since the recession, and among 16 states that had tax revenue growth exceeding 15%. Tax receipts rose 28.8% in Minnesota and 22.4% in South Dakota.

The state collects an estimated $250,000 in sales taxes for every oil well that is drilled, for example. Similarly, he said, job expansion from petroleum development spurs income tax growth.

“It’s not just oil revenue that’s growing,” he said. So far this biennium, tax receipts are running ahead of projections made last April.

“Across the board we are ahead of forecast,” Rauschenberger said. “We feel pretty comfortable with where we’re at with our general fund budget.”

On Tuesday, Jan. 7, Rauschenberger’s office announced that taxable sales and purchases for July, August and September of 2019 were $5.852 billion, a 4% increase over those months in 2018.

“We’re actually collecting more in a month than we were in a year before the Bakken (boom)” when production was less than 200,000 barrels per day, Rauschenberger said.

Last year, when Pew ran an earlier comparison, North Dakota tax revenues had rebounded 58.7% since the peak of the Great Recession, the highest of all states. That compared to a gain of 27.2% for Minnesota and 21.6% for South Dakota.

The Bakken: 2Q19 Taxable Sales In Williston, Williams County Up More Than 6%

Quick data points:

• North Dakota's taxable sales and purchases for the second quarter of 2019 are up nearly 8.4%
• Second quarter taxable sales and purchases were up 6.34% in Williston and 6.09% in Williams County
• Williams County's taxable sales and purchases rose from $423,659,194 in 2018 to $449,451,615 in 2019 
• Williston's increased from $402,042,984 to $427,535,297

Link here.

Of the 50 largest cities in North Dakota, the highest percent increases for the second quarter of 2019 (compared to the second quarter of 2018) were as follows:

• Watford City – increase of 35.6%
• Beulah – increase of 24.1% 
• Lincoln – increase of 21.4%
• Washburn – increase of 20.7%
• Rolla - increase of !5.8%

Of the six cities with the largest population in North Dakota, all posted second quarter increases, with Dickinson’s growth the largest at 12.3% and Grand Forks the smallest, at 0.6%.

Counties with the highest percent increases for the second quarter of 2019 (compared to the second quarter of 2018) were as follows:

• Burke – increase of 78.0% 
• Bottineau – increase of 32.8% 
• McKenzie – increase of 30.4% 
• Benson – increase of 24.9% 
• Bowman – increase of 21.8% 

All but one of these counties – Benson County – are in the state’s western “oil patch”.

Clicking on this link should result in a pdf being downloaded:

• 2nd Quarter 2019 Sales and Taxable Purchases Report

Williston Economy -- From The Williston Wire Last Week -- July 24, 2019

Williston airport on track for October opening. Cement shortage resolved. Someone deserves a medal for solving this one.

Enplanements: statewide up 10%; Williston? Up 20%. Looks like the city needed a new airport -- or at least more parking.

Taxable sales, 1Q19: Williston led the state's largest cities. Previously posted. The state's largest two cities, Fargo and Bismarck saw no growth.

• Williston: +15%
• Fargo: a decrease of just less than 1%
• Bismarck: a decrease of 0.5%
• Grand Forks: decreased almost 2%

Recession? One could argue that based on the above figures, had it not been for the western part of the state, North Dakota could be in a recession. 

Grace and Glam: opens on Main Street, Williston; next to Cooks on Main

Brewery: Busted Knuckle Brewery, out of Glasgow, MT, coming to Williams County

Taxable Sales, 1Q19 -- North Dakota -- Western Counties Carrying The State

Updates

July 20, 2019: look closely at where the growth is.

Original Post 

Link her to story.

Tax Commissioner Ryan Rauschenberger announced ]that North Dakota’s taxable sales and purchases for the first quarter of 2019 are up nearly 10%. Taxable sales and purchases for January, February and March of 2019 were $4.453 billion, a 9.67% increase over those months in 2018.

“We are pleased to report good year-over-year increases for the past eight quarters, five of which have seen nearly 10% growth or more.” Rauschenberger said. “It was no surprise to see a significant increase in this report with oil production hitting an all-time record of 1.4 million barrels per day in January.”

Thirteen of the 15 major sectors reported taxable sales and purchases gains when compared to the first quarter a year ago. Most notably, the mining and oil extraction sector increased by $123.8 million (a 21.65% increase), the wholesale trade sector increased by $115.1 million (a 12.19% increase), and the retail trade sector increased by $68.4 million (a 5.39% increase).

“The retail trade sector showed an increase of 5.39% when compared to last year,” Rauschenberger stated. “This continues a recent trend of growth in this important sector. This is great news after several years of declines in this vital component of the state’s economy.”

Rauschenberger added that prior to the three most recent quarters, the state experienced at least ten quarters of declines in the retail trade sector.

Three of the state’s top six largest cities saw an increase in taxable sales and purchases for the first quarter, all of which are on the west side of the state. The state’s largest two cities saw no growth.

Percent changes for the first quarter of 2019 (compared to the first quarter of 2018) for the top six largest cities in North Dakota were as follows:

• Williston – increase of 14.79%
• Dickinson – increase of 11.69%
• Minot – increase of 6.10%
• Bismarck – decrease of 0.48%
• Fargo – decrease of 0.61%
• Grand Forks – decrease of 1.86%

Of the 50 largest cities in North Dakota, the highest percent increases for the first quarter of 2019 (compared to the first quarter of 2018) were as follows:

• Garrison – increase of 39.96%
• Stanley – increase of 35.24%
• Wishek – increase of 32.55%
• Watford City – increase of 24.91%
• Grafton – increase of 21.40%

Counties with the highest percent increases for the first quarter of 2019 (compared to the first quarter of 2018) were as follows:

• Logan County – increase of 96.48%
• Burke County – increase of 70.90%
• Mountrail County – increase of 41.02%
• Slope County – increase of 29.41%
• McIntosh County – increase of 25.58%

.Complete state data at this site, a pdf will download.

North Dakota 3Q18 Taxable Sales

Link at The Bismarck Tribune.  Full report here. Data points:

• almost 20% higher, year-over-year
• $5.6 billion for the quarter (July, August, September)
• highest year-over-year increase since 3Q12
• best taxable sales and purchases report of any quarter in several years
• many sectors showed an increase; year-over-year:
• utilities: a 202% increase
• mining and oil: almost 50% increase
• wholesale trade sector: up 23%
• by city
• New Town (Parshall oil field): up 72%
• Watford City: up almost 50%
• Williston: up 29%
• Dickinson: up 18%
• Minot: up 9%
• Fargo: up 5%
• Bismarck: flat
• Grand Forks: a decrease of almost 9%
  

Memo to self: note to Art Berman and Jane Nielson.
 

*************************

Alexa

Truly incredible. Most frustrating? Apple completely missed this. Well, Apple has Siri and can apparently do what Alexa can do but Amazon beat Apple out the gate on this one.

Late Posting -- Taxable Sales -- 1Q18 -- North Dakota Counties, Cities

I never did "finish" this (see earlier post). Better late than never, I suppose.

We are now well into our third calendar quarter and in a month or two we will get taxable sales data for the second quarter.

In anticipation of that data, here are the numbers for select cities and counties for the first calendar quarter, 2018.

Disclaimer: typographical errors likely in a post like this. 

Counties:

• Cass (Fargo): $599,825,458 vs $601,242,173 (1Q17) -- a slight decrease yoy
• Williams (Williston): $337,743,009 vs $253,389,540 (1Q17) -- huge increase yoy (33.3% increase) 
• Burleigh (Bismarck): $319,378, 159 vs $4343,939,438 (1Q17) -- a decrease yoy 
• Ward (Minot): $219,276,507 vs $224,737,815 (1Q17) -- a decrease yoy
• Grand Forks: $218,826,174 vs $257,679,898 (1Q17) -- a decrease yoy
• Stark (Dickinson: $214,735,582 vs $186,801,560 -- huge increase yoy
• Then we drop all the way to McKenzie (Watford City): $57,211,683) vs $41,664, 520 -- huge increase yoy

Cities: 

• Fargo: $508,433,116
• Williston: $320,143,874
• Bismarck: $317,554,889
• Grand Forks: $213,733,324
• Minot: $208,171,518
• Dickinson: $201,809,973
• Watford City: $50,523,814

  

Worth Re-Posting -- Look At Paragraph In Red -- July 13, 2018

From "top North Dakota news stories" this week, regarding ND state tax collections:

Several categories of state tax collections are well above forecast, thanks largely to the resurgence in the state’s oil industry.

The combination of higher oil prices and increased oil production has tax collections well ahead of the forecast made during the 2017 legislative session.

North Dakota oil producers received an average of $61.11 per barrel during the month of April, with near-record production of 1.22 million bbl/day.

Legislators forecast production at less than a million bbl/day at a price of $47.00/bbl, so tax collections for the month of June were 72% higher than predicted.

Corporate and personal income tax, motor vehicle excise tax and sales tax collections are also running ahead of the budget forecast.

The upside in the oil industry has been partially offset by lower commodity prices for grain and livestock. [Always something to complain about.]

The surge in oil tax revenue, including a deposit of nearly $59 million in June, has pushed the state’s Legacy Fund balance to more than $5.5 billion.

See 1Q18 taxable sales data here.

North Dakota's Oil Tax Collections In June: 72% Higher Than Predicted -- July 13, 2018

From "top North Dakota news stories" this week:

Several categories of state tax collections are well above forecast, thanks largely to the resurgence in the state’s oil industry.

The combination of higher oil prices and increased oil production has tax collections well ahead of the forecast made during the 2017 legislative session.

North Dakota oil producers received an average of $61.11 per barrel during the month of April, with near-record production of 1.22 million bbl/day.

Legislators forecast production at less than a million bbl/day at a price of $47.00/bbl, so tax collections for the month of June were 72% higher than predicted.

Corporate and personal income tax, motor vehicle excise tax and sales tax collections are also running ahead of the budget forecast.

The upside in the oil industry has been partially offset by lower commodity prices for grain and livestock. [Always something to complain about.]

The surge in oil tax revenue, including a deposit of nearly $59 million in June, has pushed the state’s Legacy Fund balance to more than $5.5 billion.

See 1Q18 taxable sales data here.

Moody's rating, Williston, ND -- April 18, 2018.

Moody's Investors Service affirms the Ba2 rating on the City of Williston, ND's general obligation unlimited tax (GOULT) debt. The outlook remains negative. 

The Ba2 rating incorporates Williston's heavy reliance on the oil and gas production industry. Improving oil prices and the 2017 opening of the Dakota Access Pipeline have strengthened the local economy, driving growth in sales taxes and oil and gas production taxes, which are the city's primary revenues. However, Williston's leverage is high, reflecting sizeable capital projects the city has taken on to accommodate the past decade's oil production-driven population growth. The city has committed itself to additional infrastructure projects, including a major airport expansion, the ultimate scope of which has not yet been determined. These growing capital needs, as well as narrow sewer enterprise operations, are key credit pressures that overshadow recent improvements in the local economy. 

Full history here.

Bond ratings here -- wiki.

*******************************

Stanley High School 

From MYNDnow:

In Stanley, the High School is remodeling and adding on to accommodate more students.

Before the oil, Stanley had about 300 students enrolled in the district.

Now, there are about there's about 700 students in the district and around 300 of them are at the high school.

1Q18 Taxable Sales For The State Of North Dakota -- June 28, 2018

I thought I had posted this recently. I don't think. What I posted recently was taxable sales for CY 2017.

This is about taxable sales for 1Q18 -- seems like it took a long time to post the data for 1Q18 but ... whatever.

From The Bismarck Tribune:

“This 10 percent increase in the first quarter (1Q18) is the largest year-over-year growth we’ve seen since 2014,” Tax Commissioner Ryan Rauschenberger said. “We are continuing with positive gains as this is the fourth quarter in a row that we’ve seen growth in this report … The increase in oil activity in the western part of the state played a major role in moving this report to a double-digit positive again.”

Williams and McKenzie counties saw 33.29 percent and 37.32 percent increases respectively.

And more:

“Williston has moved back to having the second-largest taxable sales and purchases in the state, with Fargo holding at first,” Rauschenberger said.

Williston’s taxable sales and purchases were up 33.19 percent, while Fargo’s were down 1.96 percent.

Watford City, another oil field town had a taxable sales and purchases increase of 40.63 percent. Tioga was up 38.36 percent, New Town was up 28.15 percent and Dickinson was up 14.72 percent.

Other links:

• news
• press release 
• statistical

It wasn't that long ago that the East Coast mainstream media was "writing off" Williston. On June 29, 2015, The Atlantic Monthly famously said the Bakken boom was a bust (a blog post) or you can click on this link and go directly to the article.

Taxable Sales And Purchases -- North Dakota-- 2017 Data Released -- Not Fake News But Incredibly Poor Headline / Poor Reporting

To the reader who sent me the link/story:

Wow, wow, wow -- what a poor headline.

2017 over 2016:

Every major city in ND showed negative  change 2017 over 2016 EXCEPT Dickinson and Williston. Even Minot showed a slight decrease. Bismarck, Fargo, Grand Forks -- all negative.

Williston: 24% increase in taxable sales and purchases year-over-year.

The only reason ND was even positive by 3% was due completely to the Bakken.

Even Minot was slightly negative. 

The ND tax site that will get you to this information.

The full PDF tables are here.

• 2017 Annual Sales & Use Tax Statistical Report
  • 2017 vs 2016 Annual TSP Map by County
  • 2017 ND Taxable Sales & Purchases by Industry
  • ND Total Taxable Sales & Purchases $ Changes - 2008 to 2017
• 2017 Fourth Quarter Taxable Sales and Purchases Report

I will come back to this later when I have more time. Blogging will be delayed today.

I am not sure if all links work but we will get that sorted out later.

This is the reason for being behind in blogging. Re-reading an expert's analysis of the Bakken. I'm trying to see what I missed. It will take me most of the day to get through that report.

Boomtown's Taxable Sales Surge 30%; Locals Did Not See A Bust -- From The Williston Wire -- September 24, 2017

Williston Economic Development received a Gold Excellence in Economic Developent Award for its Open for Business Media Folder, a project in the category of Video/Multimedia Promotion from the International Economic Development Council. The honor was presented an awards ceremony in Toronto, Ontario, Canada.

Williston, Williams County 2Q17 taxable purchases jump 30 percent.

Sales taxes don't represent the total economic picture, but are a good indicator since they track the physical movement of goods and services. North Dakota figures for the second quarter show that Williston's economy has turned a corner - a scoop for the people who sat in on the Williston Area Chamber of Commerce's Eggs and Issues with State Tax Commissioner Ryan Rauschenberger on Friday morning.

"This is not public yet," Rauschenberger told the gathering. "We were working on a statewide report for the second quarter of 2017 and we pulled out some Williston specific data just for this presentation."

The data shows a jump of $83 million in sales taxes for the second quarter year over year. Sales taxes in the second quarter 2016 were $263.7 million and $347.3 million for the same period this year.

Williston finds calm after frantic years. Locals disagree with those who say the Bakken went from boom to bust. It went from boom to over-drive, but steady. From The Grand Forks Herald:

Like many who now live in Williston, Krause is a transplant, brought to northwest North Dakota by the promise of lucrative work in a hot economic landscape.

Today, some two years after plunging oil prices slowed the frantic pace of life in the state's Oil Patch, she's part of a new class of business owners taking root in what many in town describe as a city transformed, a place that's now striving to capitalize on mineral wealth while fostering a more family-friendly community.

Krause, who is originally from Milwaukee, never worked in the oil field, but she did spend two of her five years in town as a journalist at the local newspaper, the Williston Herald. She says that work introduced her to people from other parts of the country who had flocked to the patch seeking new prospects much as she had.

Over time, she says she "felt I started to embody all those hopes and dreams of what brought them here, to bring them to stay, and what they wanted it to be."

The idea for an art studio and store gradually took root, led her to approach the Williston Economic Development office and resulted in the store she operates today.

Dreams aside, she cites continually rising local birth rates and public school enrollments as among the tangible factors that encouraged her to open. Looking back, she doesn't think her shop would have been viable in Williston as it was at her arrival during the boom.

"I guess back then it was a large male population that worked an obscene amount of hours," Krause said. "Their time off would have been spent sleeping or maybe at a bar, so I don't think this place would have survived, not until the population switched out from them to the workers who decided to stay and bring up their families and their wives."

The booms of a cyclical commodity such as oil and gas are typically followed by a corresponding bust. That term is used to describe current conditions in the Patch by those elsewhere in North Dakota, including on the peripheries of the main producing region. In Williston, though, the label is subject to debate.

"I can't say it was a bust, not by any means," said Kim Wenko, the owner of clothing boutique Mode located a few doors down from Krause's shop.

Wenko has lived in Williston for about nine years, and admits readily that her knowledge of the place is influenced in part by her marriage to the city's head of economic development, Shawn Wenko, as well as by the fact that her partner in the store is a member of the City Commission. Still, her assessment of overall economic conditions is largely driven by her personal experience in a town she says has grown dramatically over her near-decade of residency.

"When I moved here, you could eat out at Applebee's," and that was about it, Wenko says. "Now there's like 15 new restaurants" and counting.

Tarren Rehak, a lifelong Willistonian and a local schoolteacher, was shopping in the boutique that day—and, coincidentally, had worked at that Applebee's when she was younger. She quickly backed up Wenko's description of the gains made during the boom and, thus far, how much of them had stuck.

"I still have 29 kindergarteners. It's the biggest class size I've ever had," Rehak said.

North Dakota 2016 Taxable Sales And Purchases

North Dakota 2016 Taxable Sales and Purchases.

Bakken Economy -- January 12, 2017

Locator: 10010OBAMALEGACY.

ND Legacy Fund. This is pretty cool. After a really, really bad year (relatively) for the ND Legacy Fund, 2016 looked pretty good. It looks like the bleeding has stopped. If you go to the link, toggle back and forth between 2016 and 2015; it's pretty remarkable.

ND Legacy Fund. Through December 2016, total deposits were $3,736,151,063. Deposits, not net assets.

ND taxable sales. Same with ND taxable sales; the numbers are still bad, but officials suggest things will level off, hit a new normal.

*****************************

Meanwhile, Flashback To The Obama Legacy

From August 26, 2015

Updates

June 9, 2025:

• Mosaic files for bankruptcy: link here.
  
• Sunnova files for bankruptcy: link here. 

January 12, 2017: in the comments section at this post, a reader provided an updated list:

• Tonopah Solar Energy LLC / SolarReserve ($737 million) -- added July 30, 2020;
• Evergreen Solar ( lost $25 million)
• SpectraWatt ( lost $500,000)
• Solyndra ( lost $535 million)
• Beacon Power ( lost $43 million)
• Nevada Geothermal ( lost $98.5 million)
• SunPower ( lost $1.2 billion)
• First Solar ( lost $1.46 billion)
• Babcock and Brown ( lost $178 million)
• EnerDel’s subsidiary Ener1 ( lost $118.5 million)
• Amonix ( lost $5.9 million)
• Fisker Automotive ( lost $529 million)
• Abound Solar ( lost $400 million)
• A123 Systems ( lost $279 million)
• Willard and Kelsey Solar Group ( lost $700,981)
• Johnson Controls ( lost $299 million)
• Brightsource ( lost $1.6 billion)
• ECOtality ( lost $126.2 million)
• Raser Technologies ( lost $33 million)
• Energy Conversion Devices ( lost $13.3 million)
• Mountain Plaza, Inc. ( lost $2 million)
• Olsen’s Crop Service and Olsen’s Mills Acquisition Company ( lost $10 million)
• Range Fuels ( lost $80 million)
• Thompson River Power ( lost $6.5 million)
• Stirling Energy Systems ( lost $7 million)
• Azure Dynamics ( lost $5.4 million)
• GreenVolts ( lost $500,000)
• Vestas ( lost $50 million)
• LG Chem’s subsidiary Compact Power ( lost $151 million)
• Nordic Windpower ( lost $16 million)
• Navistar ( lost $39 million)
• Satcon ( lost $3 million)
• Konarka Technologies Inc. ( lost $20 million)
• Mascoma Corp. ( lost $100 million) 

Original Post

 

The "original post" was here. 

It is amazing that out of the dozens of companies that were in the news from the very beginning, "we" picked up on Solyndra immediately. 

The blog is full of Solyndra stories right from the start (see tag). It turns out "we" were correct all along.

Taxpayer money to Solyndra; CEO and directors donate to DNC; Solyndra goes by the wayside after the election. At the same time Lois and the IRS targets Tea Party groups ensuring they are not given tax-free status and the rest is history as they say.

The Obama Administration admits Solyndra was a "scam." Not in so many words, but that's the nut. The actual words are here in the full report, a PDF file.

The interesting thing is that Solyndra was not the only scam. I doubt many folks remember this post and the list of 36 companies that received federal support from taxpayers have either gone bankrupt or are laying off workers and are heading for bankruptcy. This list includes only those companies that received federal money from the Obama Administration’s Department of Energy.

The amount of money indicated does not reflect how much was actually received or spent but how much was offered. The amount also does not include other state, local, and federal tax credits and subsidies, which push the amount of money these companies have received from taxpayers even higher.

The complete list of faltering or bankrupt green-energy companies:

1. Evergreen Solar ($24 million)*
2. SpectraWatt ($500,000)*
3. Solyndra ($535 million)*
4. Beacon Power ($69 million)* -- see "update/correction" below
5. AES’s subsidiary Eastern Energy ($17.1 million) -- see "update/correction" below
6. Nevada Geothermal ($98.5 million)
7. SunPower ($1.5 billion)
8. First Solar ($1.46 billion)
9. Babcock and Brown ($178 million)
10. EnerDel’s subsidiary Ener1 ($118.5 million)*
11. Amonix ($5.9 million)
12. National Renewable Energy Lab ($200 million)
13. Fisker Automotive ($528 million)
14. Abound Solar ($374 million)*
15. A123 Systems ($279 million)*
16. Willard and Kelsey Solar Group ($6 million) -- see "update/correction" below
17. Johnson Controls ($299 million)
18. Schneider Electric ($86 million) -- see "update/correction" below
19. Brightsource ($1.6 billion)
20. ECOtality ($126.2 million)
21. Raser Technologies ($33 million)*
22. Energy Conversion Devices ($13.3 million)*
23. Mountain Plaza, Inc. ($2 million)*
24. Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
25. Range Fuels ($80 million)*
26. Thompson River Power ($6.4 million)*
27. Stirling Energy Systems ($7 million)*
28. LSP Energy ($2.1 billion)* -- see "update/correction" below
29. UniSolar ($100 million)* -- see "update/correction" below
30. Azure Dynamics ($120 million)* -- see "update/correction" below
31. GreenVolts ($500,000)
32. Vestas ($50 million)
33. LG Chem’s subsidiary Compact Power ($150 million) -- see "correction" below
34. Nordic Windpower ($16 million)*
35. Navistar ($10 million)
36. Satcon ($3 million)*
37. Nissan Leaf battery facility, Smyrna, TN (see November 15, 2012, update above) 
38. Twin Creeks Technologies, Senatobia, MS ($26  million)* (see November 30, 2012, update above) 
39. Abengoa, Madrid, Spain; added April 16, 2016; bankrupt; largest bankruptcy in Spain's history; 

* Indicates filed for bankruptcy.

Note: the list came from another source; not all links were fact-checked. Much has been lost since the list was originally published. I can no longer vouch for the accuracy of the list, but it gets the point across to anyone paying attention. If this is important to you, go to the original source, at the post linked above.

The Bakken Is In Its Manufacturing Stage -- June 28, 2016; 1Q16 Taxable Sales/Purchases 50% Higher Than 1Q10

As with any manufacturer, there will be ups and downs, commensurate with the economy and the particular sector one is in.

In this case, North Dakota has a diversified economy with a major energy component. How has the Bakken affected North Dakota's diversified economy?

The 1Q16 taxable sales and purchases data has been released by the state and this note: "First quarter 2016 is nearly 50 percent greater than the same timeframe in 2010.”

For newbies, this is the timeframe:

• 2000: the Bakken boom begins in Montana
• 2007: the Bakken boom begins in North Dakota
• 2012: the Bakken hits its stride
• early 2014: the Bakken setting new records, almost every month
• late 2014: the Saudi Surge
• 2015: the Bakken re-trenches
• 1Q16 taxable sales 50% greater than 1Q10
• mid-2016: the Bakken bottoms out -- at least that is what the tea leaves suggest

Wow, think about that: the Bakken was starting to move in 2010, and now, when things appear so dire, 1Q16 taxable sales/purchases are still 50% higher. I find that quite remarkable. I hope I haven't misinterpreted the report but that was a direct quote from the state tax commissioner. 

The full report is here.

By county:

• Cass (Fargo): $643,058,308
• Burleigh (Bismarck): $362,191,851
• Williams (Williston): $280,809,315
• Grand Forks: $262,939,803
• Ward (Minot): $238,532,521
• Stark (Dickinson): $171,710,392
• Morton (Mandan): $56,835,128

Perhaps the most amazing data point is how incredibly stable the Fargo area is. Year-over-year (1Q15 to 1Q16, Cass County's taxable sales and purchases declined less than 4%. The oil counties, like Williams, TSP declined as much as 60%. Williams' decline at 62% was barely better than Burke County's decline year-over-year of 66%.

But you know, when I see 1Q16 taxable sales 50% greater than 1Q10 for North Dakota, I can't get too concerned. A lot of infrastructure has been put in place. We are probably at the nadir of this particular cycle. Yes, it could get worse, but the tea leaves don't suggest that. 

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A Note For The Granddaughters

Wow, this brings back memories: the magic of Britain's least-used train stations. 

We were stationed as a family in England from 1986 to 1989. I was then back to England multiple times between 2002 and 2004. While there alone, I hiked a lot and I took the train frequently. I visited some of those least-used train stations. 

The Brits (or, perhaps, better said, the English) love "the three P's": pets, plants, and planes. I would add "passenger trains" to continue the alliteration, but in fact the English love trains of all sorts, not just passenger trains. Perhaps one could add "the three T's": tea, trains, and taxes.

Wow, wow, wow! Such pleasant memories.

3Q15 Taxable Sales Plummet 25% -- January 6, 2016

Full report here:

• https://www.nd.gov/tax/data/upfiles/media/2015-3-stat-report.pdf?20160106113456

The Dickinson Press story here:

• http://www.thedickinsonpress.com/news/north-dakota/3918295-nd-taxable-sales-and-purchases-drop-25-percent-oil-price-slump-continues

Counties:

• Cass County back on top at $853 million.
• Williams County down to $663 million.
• Next closest is Burleigh County at $479 million.

Cities:

• Fargo: $723 million
• Williston: $529 million
• Bismarck: $472 million
• Dickinson: $256 million
• West Fargo: $102 million

North Dakota 2Q15 Taxable Sales

Link here.

Full pdf.

• Cass County back on top; Williams County, #2.
• Fargo back on top; Williston, #2; Bismarck, a relatively close 3rd.

Six-year comparison, 2Q15.

News story from The Dickinson Press.

Taxable Sales, Selected Cities, North Dakota, 1Q15 -- 2010 - 2015

1Q10:

• Fargo: $460K
• Bismarck: $277K
• Williston: $216K
• Minot: $200K

1Q11:

• Fargo: $481K
• Bismarck: $302K
• Williston: $447K
• Minot: $255K

1Q12:

• Fargo: $541K
• Bismarck: $386K
• Williston: $791K
• Minot: $357K

1Q13:

• Fargo: $543K
• Bismarck: $393K
• Williston: $790K
• Minot: $322K

1Q14 (city, taxable sales for the quarter, percent change from 1Q10):

• Fargo: $563K (22.4%)
• Bismarck: $385K (40.0%)
• Williston: $779K (261.0%)
• Minot: $309K (54.5%)

1Q15

• Fargo: $586,272,823
• Bismarck: $395,947,928
• Williston: $703,517,913
• Minot: $ 342,791,677
• Dickinson: $279,965,591