March 29, 2018

The boom may be back

Sales recover at end of 2017
By Jerry W. Kram
The question some were asking for the last two years was not when the economy of the Bakken was going to bounce back, but if it was going to bounce back. According to figures released by the North Dakota Tax Department, the answer to those questions is yes and now.
Most cities around the area saw 20 percent to nearly 50 percent growth in the fourth quarter of 2017 compared to 2016. The state reports quarterly taxable sales and purchases for the largest 50 communities in the state and annual figures for the larges 200. Sales for all of 2017 grew in most area communities by 20 percent to 30 percent although Parshall saw an increase of nearly 90 percent.
Statewide, growth was more modest, rising about 3 percent from 2016. Calendar year 2017 taxable sales and purchases in North Dakota totaled $17.9 billion, up from the $17.3 billion total in 2016.

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