From Bust to Boom

Oil was first discovered in the Williston Basin in 1951 and Williston, ND has been thru two booms and busts since then, in the 50s and 70s. At the end of the last bust in the early 1980s the city was left with a $27 million bad debt for special assessment districts that were used for infrastructure. The population fell from 17,000 to 12,500. In 1990 the city started a 1% special sales tax, 75% of which was used to retire this bad debt and 25% for economic development in the region. The debt was paid off and today the $1.3 million annual tax is being used for the betterment of the community and the region.

Ward Koeser, who has been mayor for 11 years remembers the oil boom crash vividly, “My wireless communication business did 95% of its business with oil field companies. We saw an 80% drop in our business. It was painful but we’ve rebuilt it. Today only 15% of our business is in the oil patch.”

Williston is going thru another oil boom due to $55/barrel oil, but it is less of a one industry town. For example, Holland America is moving their travel agent sales and reservation center from high priced Seattle to Williston. The population has rebounded to 14,000 and appears much better prepared for this third oil boom.