Taxable sales and purchases in 2017 saw a 3 percent increase from the year before, reaching $17.9 billion.
The tax commissioner released details today saying “the modest 3 percent taxable sales and purchases growth in 2017 is a good indicator that our economy is doing well and continuing to improve after the numerous decreases we’ve seen reflected in past reports,” Rauschenberger stated. “These types of increases are more in line with the growth trajectory we traditionally see in North Dakota.”
Rauschenberger says these numbers show a resurgence in the oil producing areas of the state.
The mining and oil extraction sector saw a 52.25 percent increase worth $663.6 million.
In the report of North Dakota’s largest cities, Williston was the only big city who saw an increase.
It was a substantial increase at 24.45 percent when compared to 2016’s annual report.
• Bismarck – 3.9 percent decrease
• Dickinson – 14.67 percent increase
• Fargo – 5.45 percent decrease
• Grand Forks – 1.76 percent decrease
• Minot – 3.74 percent decrease
• Williston – 24.45 percent increase
The $17.9 billion in 2017 is still down more than $5 billion from 2015 when sales totaled $22.8 billion.
2012-2015 each saw the state eclipse more than 20 billion a year.
2014 was the highest year in North Dakota at $28.2 billion in total taxable sales and purchases.