Posted: May 31, 2013 8:39 AM by Jay Kohn - MTN News
BILLINGS - The latest figures from the North Dakota Tax Department show the Bakken Boom is definitely still booming.
North Dakota totaled more than $25.2 billion when it comes to taxable sales and purchases in 2012, an increase of 29% over 2011.
The city of Williston and Williams County led the way, where the latest population estimate is pegged at 26,697 people.
Williston also saw more taxable sales and purchases than Fargo, North Dakota's largest city, in 2012. The city had $3.5 billion in taxable sales and purchases in 2012, compared to Fargo's $2.6 billion.
Rick Leuthold, Director of Business Development for Sanderson Stewart, says the booming economy in the oil patch flows directly to Billings.
"We continue to see increased subdivision activity, residential housing, and we're seeing more need for commercial and industrial sites," explained Leuthold.
"We're quickly becoming a very prominent hub for providing those kinds of services into that industry, and it's showing up in every facet of the community," Leuthold says.
He doesn't see things slowing down in the oil patch anytime soon, pointing to a recent North Dakota State University study that foresees Williston's population doubling over the next decade.
"Williston and Williams County at 36,000 to 38,000 people right not, will just continue on a very rapid growth curve for the next eight to 10 years - something in the neighborhood of 65,000 to 70,000 people."
Leuthold also says he wouldn't be surprised if Williston and Williams County see another 43% growth in sales and purchases this year over last.