Studies underscore oil and gas industry’s significant impact on North Dakota’s economy, communities
March 7, 2023
BISMARCK, N.D. – The oil and gas industry in North Dakota remains a powerhouse for the state’s economy, accounting for more than $42.6 billion in gross business volume, nearly 50,000 jobs and $3.8 billion in state and local tax revenues in 2021, according to two studies highlighted today by Gov. Doug Burgum, researchers from North Dakota State University and industry officials.
“The oil and natural gas industry continues to be a game-changer for North Dakota,” Burgum said. “Taxes and royalties paid by the industry support our state’s significant investments in infrastructure, schools, communities, tax relief and the Legacy Fund, among other areas. The industry’s resiliency in the face of challenges such as the pandemic, extreme weather, volatile prices and misguided federal policies, demonstrates that it will continue to play a critically important role in North Dakota’s economy for generations to come.”
