October 10, 2012

McKenzie County leads state in taxable sales increase

By Neal A. Shipman
Farmer Editor

In just another sign that McKenzie County is booming, the latest taxable sales information released by the North Dakota Tax Dept. shows that McKenzie County is leading the state in the percentage increase in taxable sales and purchases in the second quarter of 2012.
The county’s taxable sales and purchases increased nearly 78 percent in the second quarter of 2012 jumping from $31,643,263 in 2011 to $56,312,294 in 2012.
Likewise, business was booming in Watford City which saw its taxable sales grow from $28,615,642 in the second quarter of 2011 to $49,970,500 during the same three month period in 2012.
Watford City’s taxable sales and purchases in the second quarter of 2012 put city as No. 10 of the state’s 50 largest city and surpassing Devils Lake, Valley City and Wahpeton.
Of the state’s 53 counties, McKenzie County is now ranked No. 9 in taxable sales and purchases.
“The second quarter report for taxable sales and purchases illustrates continued momentum in North Dakota’s economic growth that is spread across nearly all major industry sectors,” said Fong.
Statewide, during April, May, and June, retail sales grew to $1.607 billion driving a combined growth to over $6.406 billion for all fifteen industry sectors for a 41.5 percent growth in total taxable sales and purchases compared to the same months in 2011.
“Consumer confidence remains strong and businesses are growing, wholesale trade is robust and manufacturing is on the rise,” stated Fong. “ And just about everywhere you go across North Dakota, there are large constructions projects in progress.”  
Fourteen of the fifteen industry sectors reported gains when compared to the same time one year ago.  The wholesale trade sector grew by $536 million, representing the largest dollar increase of all industry sectors during the second quarter while the transportation and warehousing grew 88.3 percent, the largest percentage growth of the major industry sectors.  
“Agriculture continues to be a key component for our state’s economy,” said Fong. “An early and mild spring this year allowed our farmers to get a head start on planting. The third and fourth quarter reports will reflect the results of our producers’ harvest, which will help determine what impact this summer’s persistent heat and dry conditions may have had on our agricultural industry.”
Of the 50 largest cities, the biggest percentage increases for the second quarter of 2012 include New Town, up 185 percent; Tioga, up 136.2 percent; Cavalier, up 116.5 percent; Watford City, up 74.6 percent; and Williston, up 57.9 percent.
Of the 50 largest cities, the biggest percentage decreases include Kenmare, down 30 percent; Walhalla, down 26.5 percent; Park River, down 12.4 percent; Casselton, down 12.3 percent; Ashley, down 11.1 percent.
Counties with the highest percentage increases were McKenzie, up 78 percent; Williams, up 74.2 percent; Mountrail, up 66.9 percent; Dunn, up 64.3 percent; and Stark, up 61.1 percent.  
The counties with the biggest percentage decreases were Sioux, down 82.4 percent; Benson, down 35.5 percent; Grant, down 22.2 percent; Emmons, down 12.7 percent; and Richland, down 8.9 percent.