The Economic Contribution of North Dakota Cooperatives to the North Dakota State Economy
Cooperatives are a vital component of the North Dakota economy. Owned by their customers or by privately-held firms, cooperatives provide a variety of goods and services to North Dakota. Based on data provided by the North Dakota Secretary of State, 332 businesses operating in North Dakota identified themselves as cooperatives in 2010; 256 are headquartered in the state. The economic contribution of the North Dakota cooperatives reaches beyond the local communities where they are headquartered. In 2010, the operations of electric, credit, farm supply and farm output marketing, and telecommunication cooperatives headquartered in North Dakota generated $3.5 billion of gross business sales. These sales led to secondary business volume of $2.1 billion. Hence, these 256 cooperatives made a total economic contribution to the state economy of $5.6 billion. The economic contribution of cooperatives is also comprised of jobs, labor income and tax revenue to the state. The 256 cooperatives featured in this study employ approximately 8,000 people on a full time basis in North Dakota. These employees were paid approximately $1.1 billion in wages and benefits. After the cost of goods sold, the principal expenditure of the cooperatives in North Dakota is employee compensation. The gross sales generated by the cooperatives, and the expenses generated by cooperative employee household spending generated an additional 17,000 full time jobs and $0.6 billion in wages and benefits in the North Dakota economy. Together, these activities generated a corporate, payroll and personal taxes contribution of $342 million to the state.
|Date of creation:||Oct 2011|
|Date of revision:|
|Contact details of provider:|| Postal: PO Box 5636, Fargo, ND 58105-5636|
Phone: (701) 231-7441
Web page: http://www.ext.nodak.edu/homepages/aedept/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ags:nddaae:117167. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.