The Bakken and the oil & gas industry as a whole supported 60,000 North Dakota jobs in 2011. The industry also contributed more than $30 billion to the economy in the same year.
The study was conducted by ND State University.
North Dakota Petroleum Council President Ron Ness. "The benefits are broad-based and state-wide. Our booming agriculture and oil and gas industries are stimulating our rural economies and job growth in a way that few of us could have anticipated even five years ago."
The main findings of the study include:
- Total economic impact of $30.4 billion
- Oil & Gas industry supported 60,000 jobs or 9% of the workforce
- Contributed $11.6 billion in personal income
- Generated $2.65 billion in state government revenue
- Contributed $7.4 billion to state-wide retail sales
The economic impact of ~$30 billion was doubled the impact estimated in 2009 and almost five times the impact the industry had on the state in 2005. Government revenue is up six times and direct employment is up seven times since 2005.
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