Williston tops Fargo for taxable sales

[Hammerhead]

Published June 14, 2012, 11:30 PM
Williston tops Fargo in taxable sales and purchases
By: Teri Finneman, INFORUM
http://www.inforum.com/event/article/id/364250/


Williston surpassed Fargo in taxable sales and purchases by $100 million in 2011, a report released Thursday shows.
Williston had 88.5 percent growth from 2010 to 2011, compared to Fargo’s 10 percent.

When did you ever think a 10% growth in taxable sales would not look awesome? :)

[bisonaudit]

Published June 14, 2012, 11:30 PM
Williston tops Fargo in taxable sales and purchases
By: Teri Finneman, INFORUM
http://www.inforum.com/event/article/id/364250/


Williston surpassed Fargo in taxable sales and purchases by $100 million in 2011, a report released Thursday shows.
Williston had 88.5 percent growth from 2010 to 2011, compared to Fargo’s 10 percent.

When did you ever think a 10% growth in taxable sales would not look awesome? :)

I think if you polled the mayors, city commissioners and the police chiefs around the state they'd take the 10% rather than the 88.5%.

[GradBison]

When did you ever think a 10% growth in taxable sales would not look awesome? :)

When there is a locale that saw an increase of 635%. :eek:

[tony]

Published June 14, 2012, 11:30 PM
Williston tops Fargo in taxable sales and purchases
By: Teri Finneman, INFORUM
http://www.inforum.com/event/article/id/364250/


Williston surpassed Fargo in taxable sales and purchases by $100 million in 2011, a report released Thursday shows.
Williston had 88.5 percent growth from 2010 to 2011, compared to Fargo’s 10 percent.

When did you ever think a 10% growth in taxable sales would not look awesome? :)

That 10% still looks very good because it's more likely that it is sustainable growth (plus there's a lot of retail just outside of Fargo.)

I'm having trouble reconciling:


Bismarck, Fargo, Grand Forks and Minot reported growth ranging from 8 percent in Grand Forks to 39.7 percent in Minot. These four cities increased taxable sales and purchases by $6.582 billion over 2010.

Let's think about that for a second... that's about 250,000 people - so everybody spent $26,000 more in 2011 than in 2010? Oh wait...


Fargo’s total was $2.4 billion compared to Williston’s $2.5 billion. Williston had 88.5 percent growth from 2010 to 2011, compared to Fargo’s 10 percent.

So Fargo's 2010 retail sales total is x where x * 1.1 = $2.4b or $2.18 billion, an increase of $220 million.

The "by" in the bolded portion of the quote should probably be a "to" or, less likely, the "four cities" should read "the state." Either way, it's a big difference.

Edit: It's the first option. North Dakota's taxable sales increased by $5.3 billion from 2010 to 2011 ($19 billion = $13.7 billion increased by 39%).

[KSBisonFan]

Published June 14, 2012, 11:30 PM
Williston tops Fargo in taxable sales and purchases
By: Teri Finneman, INFORUM
http://www.inforum.com/event/article/id/364250/


Williston surpassed Fargo in taxable sales and purchases by $100 million in 2011, a report released Thursday shows.
Williston had 88.5 percent growth from 2010 to 2011, compared to Fargo’s 10 percent.

When did you ever think a 10% growth in taxable sales would not look awesome? :)

$95 million of that money was spent on beer, hookers and antibiotics.

[WYOBISONMAN]

Oilfield equipment is damn expensive stuff. Pretty easy to see how this happened. The latest well we participated in located in Williams County (Williston) cost $12.8 million to drill and complete. Lots of sales tax revenue generated on each of those wells....and most of it likely gets credited to the City of Williston where most of the oilfield service companies and suppliers are located.

[BisonVifte]

Oilfield equipment is damn expensive stuff. Pretty easy to see how this happened. The latest well we participated in located in Williams County (Williston) cost $12.8 million to drill and complete. Lots of sales tax revenue generated on each of those wells....and most of it likely gets credited to the City of Williston where most of the oilfield service companies and suppliers are located.

And the inflated prices of goods and services in the western part of the state also.

[4mcruenomore]

I am ready to move to Fargo, sick of the oil field trash.

[Hammerhead]

And those products were consumed in the same order. :)


$95 million of that money was spent on beer, hookers and antibiotics.

[WYOBISONMAN]

And the inflated prices of goods and services in the western part of the state also.

The price of drilling a well in Williams County has gone from about $6.5 million to $12.8 million over 3-4 years. A hell of a jump. Part of that is due to there being more frac stages in each well, but that does not account for all of it. I think there is a lot of price gouging going on out there.

[bisonaudit]

I think there is a lot of price gouging going on out there.

Or capitalism.

[WYOBISONMAN]

Or capitalism.

LOL......if you are paying the prices it is gouging......If you are on the other side.....capitalism.

[90BISON]

The last time I was out in Newtown a few months ago, which is all but overrun right now.......a HS classmate of mine, who is the Chevy dealer out there, told me that at the last Cenex annual meeting in Newtown, they announced that they had sold more diesel fuel in the past year, than they had sold in the combined history of the Coop! I think one of the latest vehicle counts on ND 23 through Newtown, was like 10,000 vehicles per day, 2/3 of which are semis......They formerly had one oil depot there, now they have or will shortly have 2......I think the oil trains that come in and out of there used to come once every 2 weeks, now they run 2 per day! It's honestly, not a town you really want to visit if not at all necessary......Stanley, Tioga and Watford City aren't much better......

[MNLonghorn10]

I am ready to move to Fargo, sick of the oil field trash.

I wouldnt. Id stay out of fargo. Did you read the thread about the 20 person scrum?? stay west. Hope some people here move out there too after reading this.

Williston is hoppin where fargo is droppin
Sent from my SCH-I510 using Tapatalk 2

[reformedUNDfan]

I wouldnt. Id stay out of fargo. Did you read the thread about the 20 person scrum?? stay west. Hope some people here move out there too after reading this.

Williston is hoppin where fargo is droppin
Sent from my SCH-I510 using Tapatalk 2

lol 10char

[gabe]

LOL......if you are paying the prices it is gouging......If you are on the other side.....capitalism.

Good analogy. But nobody is forcing people to move there. And if you already owned a house, the values have gone up dramatically so there is a benefit. Of course renters are pretty much screwed. I think once the free market takes its course, it will even out. May take a while. Where there is gouging, there will be opportunities for others.

[perthbison]

Oilfield equipment is damn expensive stuff. Pretty easy to see how this happened. The latest well we participated in located in Williams County (Williston) cost $12.8 million to drill and complete. Lots of sales tax revenue generated on each of those wells....and most of it likely gets credited to the City of Williston where most of the oilfield service companies and suppliers are located.Just curious, what level of interest are these wells paying?

[1998braves64]

Just curious, what level of interest are these wells paying?

Usually somewhere around 1/7 - 1/6 (14-16% maybe higher if you're in prime spots) is the royalty payment for the mineral owner.

[ndsubison1]

any reason this came out after the election? :innocent:

[Gully]

LOL......if you are paying the prices it is gouging......If you are on the other side.....capitalism.

IMO that's a shortsighted view. A different pespective would be that the higher prices the market is bearing will attract more supply (equipment, hotels, houses, etc.) The higher the price (market signal), the greater the incentive for folks to provide the supply.

It may be unpleasant to some and can be a bit messy in the short term. In the long term, however, economies governed by market forces and Adam Smith's "invisible hand" are more efficient than planned economies. Somehow artifically capping prices is how you ensure shortages over the long run.

[4mcruenomore]

I wouldnt. Id stay out of fargo. Did you read the thread about the 20 person scrum?? stay west. Hope some people here move out there too after reading this.

Williston is hoppin where fargo is droppin
Sent from my SCH-I510 using Tapatalk 2

I said Fargo, not Moorhead, I wanted to move up, not down.

[MNLonghorn10]

I said Fargo, not Moorhead, I wanted to move up, not down.
oh. gotcha. well why would you want to move then? fargo sucks, and you fit in extremely well with the rigger trash.

[4mcruenomore]

oh. gotcha. well why would you want to move then? fargo sucks, and you fit in extremely well with the rigger trash.

I am redneck trash, not oil trash. If you are going to try to insult me, atleast get it accurate!!

[gabe]

Its a little misleading and oil is skewing the numbers. Bottom line is 25k people aren't going to outspend 105k people. Not on everyday expenses at least. The dollars spent on equipment and the overinflated numbers are probably a lot of expensive one time purchases. No matter how you shake it, tons of money being spent and its raising a ton of dough

[ndsubison1]

Its a little misleading and oil is skewing the numbers. Bottom line is 25k people aren't going to outspend 105k people. Not on everyday expenses at least. The dollars spent on equipment and the overinflated numbers are probably a lot of expensive one time purchases. No matter how you shake it, tons of money being spent and its raising a ton of dough

http://ct.fra.bz/ol/fz/sw/i51/5/4/26/frabz-No-Shit-Sherlock-fb7c17.jpg

[344Johnson]

I am ready to move to Fargo, sick of the oil field trash.

ButtGodsCountry and ButtWestNoDakTalent?

[BisonNation11]

ButtGodsCountry and ButtWestNoDakTalent?

Just dont start following ButtHockey

[TheBisonator]

ButtGodsCountry and ButtWestNoDakTalent?

ButtUnderdevelopedInfrastructure

[4mcruenomore]

ButtUnderdevelopedInfrastructure

You can say that again, how about 2 grocery stores and 1 wal-mart + an extra 10,000 people = EMPTY SHELVES

[ISXBISON]

any reason this came out after the election? :innocent:

It's a grand conspiracy Ming

Just ask Charlene Nelson and her traveling circus:facepalm:

[The_Sicatoka]

Just ask Charlene Nelson and her traveling circus:facepalm:

She only failed on two things:

1. She showed up with an idea but without an implementation plan. Let Bismarck figure out how to allocate money for culverts in Pembina County and mowing the ditches in Richland County. I mean they're doing a great job with state funded infrastructure improvements in Williams County now ... Closing thought on this "Bismarck will figure it out" problem --> more power to Al Carlson. Oh yeah, gre-e-e-e-eat idea ...

2. Their complaint was too much money going to "Bismarck" (i.e. the State). Uh, folks, property taxes (save for a minor percentage) do not go to "Bismarck". They stay local. I like knowing I can walk to a county commissioner's house or a superintendent of school's house just down the street from mine and ask where the money is going and why. Try that when it all funnels through the State Legislature. If you really wanted to not send as much money to Bismarck they should've recommended elimination of the state income tax.

</rant>