North Dakota’s economy saw big boost in 2022, tax department reports

BISMARCK — North Dakota’s financial system is rebounding from challenges tied to the COVID-19 pandemic, as taxable gross sales and purchases posted an almost 18% enhance in 2022.

Taxable gross sales and purchases totaled $23.9 billion, up 17.7% from the $20.3 billion posted in 2021, in keeping with a report launched Wednesday, March 22, by the workplace of Tax Commissioner Brian Kroshus.

The rise “illustrates a robust, post-pandemic enterprise restoration throughout the state and a return to extra normalized circumstances following a very difficult 12 months in 2021,” Kroshus mentioned.

Of the 15 main trade sectors, 14 reported elevated taxable gross sales and purchases in contrast with 2021. Wholesale commerce elevated $1.5 billion (up 37.5%), and mining and oil extraction elevated $674.7 million (up 43.5%). The rise in retail commerce was $410.4 million (a 5% acquire).

Kroshus mentioned North Dakota’s financial system carried out very nicely, regardless of provide chain points and inflation.

“Favorable commodity pricing in each vitality and agriculture, our state’s high two industries, led the best way and had a constructive impression on our financial system as an entire,” Kroshus mentioned.

North Dakota’s largest cities noticed constructive share will increase in taxable gross sales and purchases in 2022 in contrast with 2021:

• Williston – up 29.2%
• Dickinson – up 13.3%
• Minot – up 10.4%
• Fargo – up 5.1%
• Grand Forks – up 4.7%
• Bismarck – up 3.7%

Different locations among the many state’s 200 largest cities that posted important share will increase in taxable gross sales and purchases had been:

• Saint Thomas – up 89.3%
• Westhope – up 78.8%
• Buxton – up 76.1%
• Napoleon – up 74.9%
• Golden Valley – up 62.5%

Among the many state’s 53 counties, the very best p.c will increase had been posed by:

• Logan – up 66.8%
• Dunn – up 40.7%
• Pembina – up 36.3%
• Nelson – up 34.2%
• Traill – up 33.8%

Taxable gross sales and purchases for the fourth quarter of 2022 (October, November and December) topped $6 billion, a rise of greater than 17% over the identical interval in 2021.
Of the 50 largest cities within the state, the very best share will increase for the fourth quarter of 2022 had been posted by Cavalier, Mayville, New City, Kenmare and Tioga. Counties with the very best share will increase had been Logan, McHenry, LaMoure, Traill and Nelson.

All 15 main trade sectors reported a rise in taxable gross sales and purchases for fourth quarter 2022 in contrast with the identical interval in 2021.

The entire 2022 annual and fourth quarter state gross sales and use tax statistical studies can be found on-line at

tax.nd.gov/information.

Helmut Schmidt is a reporter for The Discussion board of Fargo-Moorhead’s enterprise information group. Readers can attain him by e mail at hschmidt@forumcomm.com, or by calling (701) 241-5583.