Titan Machinery sees record-breaking revenue

WEST FARGO, N.D. (KVRR) — Titan Machinery reports a record-breaking revenue of $2.2 billion for fiscal 2023, an increase of almost 30% compared to 2022. The company’s gross total reached $583 million through the fiscal fourth quarter, which ended December 31st. It is an increase of more than $75 million in revenue compared to last year. Titan Machinery has attributed…

Paul Marquart confirmed by Senate as Minnesota Revenue Commissioner

ST. PAUL, Minn. (KVRR) – Former DFL State Representative Paul Marquart of Dilworth is unanimously confirmed by the Senate to become Minnesota’s Revenue Commissioner. He was appointed by Governor Tim Walz December 21st and began serving January 2nd. “In just my short time as commissioner, I’ve seen firsthand the dedication and integrity of the employees in this agency, and I…

Titan Machinery Inc. increases profits by 47% for 3rd quarter

A West Fargo-based company announced it has increased its profits by 47 percent globally.

WEST FARGO, N.D. (KVRR) — Titan Machinery Inc., headquartered in West Fargo, has reached a gross total of just under $670 million through the fiscal third quarter which ended October 31st. It’s a $200 million revenue increase compared to last year at this time. The company’s gross profit margin also rose just above 20 percent and just under $140 million…

F-M Diversion and Red River Valley Water Supply Project pick up speed

The diversion is the first P3 flood management project in North America. 

MOORHEAD, Minn. (KVRR) -Plans for the Fargo-Moorhead Diversion and Red River Valley Water Supply Project are picking up speed. The diversion is the first public-private partnership flood management project in North America. “Protection for the community is the most important part – anticipated to safeguard more than 235,000 people and 70 square miles overall, designed to withstand over a 100…

Revenue forecasts expect jump in North Dakota oil prices

BISMARCK, N.D. – An updated revenue forecast shows North Dakota collecting about $1 billion more in oil taxes over the next two-year budget cycle than what was expected just two months ago. The forecast from state budget analysts and Moody’s Analytics predicted a nearly 30% increase in oil prices than what the Legislature used as a starting point in January….

North Dakota Oil Output Pushes Revenue Ahead of Forecast

Oil production is running about 5% ahead of projections.

BISMARCK, N.D.–Record oil production is pushing state revenue ahead of expectations for the first several months of the state’s two-year budget cycle. North Dakota budget director Joe Morrissette says revenue is up 7.6%, or about $121.6 million, over projections. Oil production in North Dakota is at about 1.5 million barrels daily. The state has so far collected more than $1.25…

State of Minnesota Projects $1.3 Billion Budget Surplus for 2020-21

The money will be allocated to the budget reserve account.

ST. PAUL, Minn. (FOX 9) – The state of Minnesota projects a $1.3 billion budget surplus in the fiscal year 2020-21. The Minnesota Management and Budget office released the forecast Thursday morning showing an economic outlook that “has improved since the end of the 2019 legislative special session.” The forecast showed an improved revenue forecast for the state and a small decrease…

Congressman Kevin Cramer Visits the Chamber to Discuss Updates from Congress

Cramer believes wages and economic growth have been pushed higher and revenue to the government is rising

MOORHEAD, Minn. — Congressman Kevin Cramer makes a visit to the Fargo West Fargo Moorhead Chamber to discuss updates from Congress. He says the economy is in an exciting place, with more job openings than people looking for work. Cramer believes wages and economic growth have been pushed higher and revenue to the government is rising. He says there is…

Changes Coming to the Minnesota State Fair

The projects will be funded through State Fair operating revenue and grants from the Minnesota State Fair Foundation

  REGIONAL — The Minnesota State Fairgrounds is getting an $11.1 million face-lift. The State Fair’s board of managers on Sunday approved $7.2 million in capital improvements and $3.8 million in maintenance projects for the coming year. The work will include construction of a new restroom and new pet exhibition area, improvements to the livestock complex and upgrades to infrastructure….

North Dakota Lawmakers Hire Colorado-Based Firm for Revenue Forecasts

The eight-member panel includes majority and minority leaders

BISMARCK, ND — North Dakota leaders are getting a second opinion on revenue forecasts. The Legislative Revenue Advisory Committee has decided to hire Colorado-based analysts and consultants IHS Inc. The eight-member panel includes majority and minority leaders. State budget analysts and Moody’s Analytics have been working together for nearly two decades on the revenue forecasts. But they’ve missed projections by…