By Username
Enter a URL of an MRSS feed

In just one year, the oil industry has pumped billions of dollars into the state of North Dakota. A North Dakota University study released today shows the economic impact of the state's oil industry was $4.9 billion in 2009. The economic impact has more than tripled since 2005. President of the North Dakota Petroleum Council, Ron Ness, says the industry paid more than $800 million in state and local taxes in 2009. That revenue helped fund tax relief, education and state projects. North Dakota residents also recieved nearly $560 million in royalty payments in 2009. Ness says 2010's numbers will be even better... (Ron Ness ) 2009 was a bit of a down year in between 2008 and 2010. But 2010 has been astronomically big. So that plays into the whole economics of ND. Our need to attract people and provide quality lifestyle in an area where they want to bring their families and stay here. That's the opportunity." The report says the oil industry accounted for over 18,000 full time jobs in North Dakota in 2009. A study will be released Thursday showing what residents think of the oil industry in the state.