Natrona sees strong growth in taxable sales; $4.7 billion across the state - Casper, WY Oil City News
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Natrona sees strong growth in taxable sales; $4.7 billion across the state

(Dan Cepeda, Oil City)

CASPER, Wyo. — Natrona County saw an 11.3% uptick in the amount of taxable sales in the second quarter of 2019 compared with a year ago.

Wyoming saw $4.7 billion in total taxable sales during that same period, up 7.8% from 2018.

“Increases occurred in most economic industries, with the fastest growth in financial activities sector which mostly reflects sales in automotive, machinery and equipment rental and leasing, experiencing a year-over-year expansion of 25.3 percent,” a second quarter 2019 summary report from the state’s Economic Analysis Division states.

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The retail trade industry contributes the most in terms of taxable sales. Retail saw 9.4% growth in taxable sales compared with the second quarter last year.

Mining, including oil and gas extraction, grew at a clip of 13.2%.

The report says that is “due to increased sales of equipment, supplies, and services from new energy exploration and production activity.”

Mining’s taxable in the second quarter of 2019 was down 40.1% from fourth quarter 2014, “before the energy downturn.”

“The manufacturing, construction, and utilities industries, which benefited from mineral extraction development, also showed strong growth of around 10.0 percent, respectively,” the report adds.

“The public administration sector, which reflects automobile sales, grew only 1.0 percent over the year.”

A majority of counties saw growth in taxable sales, led by Converse at 54.4%.

“Sublette County suffered the largest decline, at -22.9 percent, possibly reflecting a slowdown in conventional natural gas exploration,” the report states.