What economic impact does oil have on North Dakota?

BISMARCK, N.D. (KFYR) - In today’s “We the People” segment to celebrate America’s 250th birthday, we discuss the economic impact that oil has on our state.

North Dakota’s oil and natural gas industry makes up more than 30% of North Dakota’s economy every year, bringing in more than $48 billion annually.

Oil and gas are responsible for more than 63,000 jobs in North Dakota and collectively pay $5 billion in wages annually.

The industry also pays more than half of all state taxes collected. The revenue from taxes supports local communities, infrastructure, elementary and high school education, water and flood control projects, property tax relief and the Legacy Fund.