Report: Growth fueled by mining and oil extraction
By: Forum Communications Co. Report, The Dickinson Press
BISMARCK — North Dakota’s oil industry helped boost the state to a 14.6 percent increase in taxable sales and purchases this spring.
Tax Commissioner Cory Fong released a key economic report today that says taxable sales and purchases were $3.416 billion during April, May and June compared to $2.982 billion during the same months last year.
“These figures are very encouraging, especially when you consider the continued impact of the national economic recession on the majority of the states,” Fong said in a statement.
Comparing second quarter 2010 to second quarter 2009, growth was fueled by the mining and oil extraction sector, which grew 98 percent, a news release said.
Other sectors reporting growth include transportation and warehousing, 47.8 percent; wholesale trade, 28.7 percent; and financial, insurance, real estate, rental and leasing, 27.1 percent.
Manufacturing grew 10.1 percent; professional, scientific, technical, and management services, 9 percent; educational, health care and social services, 7.4 percent; retail trade, 6.9 percent; and accommodation and food services, 5.7 percent.
Two of 15 sectors reported a decline. The utilities sector was down 60.7 percent, while arts, entertainment and recreation dropped 0.8 percent.
The drop in the utilities sector is due to a significant change that occurred July 1, 2009, when all natural gas sold in the state became exempt from sales and use taxes.
Of the 50 largest cities, the biggest percentage increases for second quarter 2010 were Tioga, 174 percent; Williston, 87.5 percent; Lincoln, 47.2 percent; Watford City, 46 percent; and Bowman, 31.7 percent.
Of the 50 largest cities, the biggest percentage of decreases were Casselton, down 34.6 percent; Park River, 32.1 percent; Hillsboro, 22.9 percent; Northwood, 21 percent; and Cooperstown, 19 percent.
Counties with the highest percentage increases were Burke County, 110.2 percent; Williams County, 97.8 percent; McKenzie County, 50.8 percent; Stark County, 31.8 percent; and Bowman County, 29.3 percent.
The counties with the biggest percentage decreases were Logan County, down 34.3 percent; Oliver County, 26.1 percent; Grant County, 16.8 percent; Griggs County, 16.3 percent; and Emmons County, 13 percent.