IDEAS home Printed from https://ideas.repec.org/p/ags/nddaae/117167.html
   My bibliography  Save this paper

The Economic Contribution of North Dakota Cooperatives to the North Dakota State Economy

Author

Listed:
  • McKee, Gregory J.

Abstract

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.

Suggested Citation

  • McKee, Gregory J., 2011. "The Economic Contribution of North Dakota Cooperatives to the North Dakota State Economy," Agribusiness & Applied Economics Report 117167, North Dakota State University, Department of Agribusiness and Applied Economics.
  • Handle: RePEc:ags:nddaae:117167
    DOI: 10.22004/ag.econ.117167
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/117167/files/AAE687.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.117167?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jessica Gordon Nembhard, 2014. "Community-Based Asset Building and Community Wealth," The Review of Black Political Economy, Springer;National Economic Association, vol. 41(2), pages 101-117, June.

    More about this item

    Keywords

    Agribusiness; Financial Economics; Public Economics;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:nddaae:117167. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/dandsus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.