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North Dakota “Great Recession” real estate crisis?

real estate crisis indicated by unfinished apartment

The North Dakota Office of State Tax Commissioner recently reported a $63 million shortfall in anticipated sales tax collections in December of 2015. Sales tax collections have declined by over 50 percent in some oil patch cities. Even with a massive state investment program and projects that were financed prior to the recent decline in oil prices, sales tax revenues still collapsed. Plunging sales ...

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New Bakken refinery could bring jobs to Dickinson area

With the proposed Bakken refinery, Belfield, North Dakota might soon be the site of the second new refinery built in the United States since 1976.

The area west of Dickinson might soon get another diesel refinery, reports the Dickinson Press. California-based Meridian Energy Group Inc. says its focus on the development of what it’s dubbed the “Davis Refinery” is a reflection of its commitment to operating in the Bakken oil patch “with a commitment to the future and an eye to the big picture.” If ...

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Man camp gets preliminary approval in Mercer County

Target Logistics, Williston Lodge North, North Dakota. Exterior structures at dusk/dawn.

STANTON, N.D. — A company has received preliminary approval for a man camp between Hazen and Beulah to house workers building a $500 million urea fertilizer plant in the area. The Mercer County Planning and Zoning Commission recommended a plan by Civeo Corp. to move unused oil patch units from Dickinson into Coal Country on Thursday night. Planning official Wes ...

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In North Dakota, donations slip as oil slides

salvation army williston

BISMARCK, N.D. — Thousands of layoffs from the oil industry’s slide have taken a toll on donations in western North Dakota’s oil patch, just as charities say their need is increasing. Donations to the Salvation Army were down by more than 60 percent in Williston, in the heart of oil country, as of mid-December. And energy companies that used to ...

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October airline boardings down nearly 10 percent from 2014

BISMARCK, N.D. — Boardings at North Dakota’s eight commercial service airports in October dropped nearly 10 percent from the previous year, with the airport in Dickinson seeing the sharpest decrease. The state Aeronautics Commission reports the airports saw almost 99,300 boardings last month compared to more than 110,100 boardings in October 2014. The airport in Dickinson experienced a drop of ...

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Delta suspending flight service to Dickinson

Delta Airlines will suspend its service to Dickinson Theodore Roosevelt Regional Airport as of December 1 due to the route’s poor passenger demand and profitability, reports the Dickinson Press. Delta spokesperson Anthony Black said, “We have seen a decline in passenger traffic over the past several months.” Flights from Dickinson to and from Minneapolis used to take off twice daily, ...

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Texas company buying 4 North Dakota TV stations for $44M

BISMARCK, N.D. — Texas-based Nexstar Broadcasting Group is buying four CBS-affiliated TV stations in North Dakota for $44 million. Nexstar is buying KXMC in Minot, KXMB in Bismarck, KXMA in Dickinson and KXMD in Williston from Reiten Television. Nexstar also will provide sales and other services to the market’s two ABC-affiliated stations owned by Forum Communications, in continuation of Reiten’s ...

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