Watford City, North Dakota is a rapidly growing, dynamic community located in the heart of the Bakken. The crude oil boom, tied to the surrounding Bakken Formation, has put this once small town on the forefront of an economic explosion. With a population that has leapt from under 1,800 to over 6,000, and an expected population of 18,000+ within the next 7 years, Watford City needs new development to meet the increasing demand for housing and businesses.
There are an estimated 90% of the Bakken drilling rigs within a 70 mile radius of Watford City. This prime location on the Bakken in between Williston and Dickinson makes it a great location for many large gas and service companies. Most Recently the Natural Gas company ONEOK received approval by the city to construct a $320-$390 Million natural gas processing plant, which is set to complete in 2015. This will be the third plant of its kind surrounding Watford City which will continue to bring many long term jobs to the community and bring ONEOK’s total investment to around $750 Million around Watford City. Watford is also home to Frontier Energy group’s HQ , Missouri Basin Well Service, Knife River Energy, and many other gas service companies.
WATFORD CITY HIGHLIGHTS:
• Strong Community: On November 15, 2011, Bloomberg BusinessWeek named Watford City the “Best Place in North Dakota to raise kids in 2012” (source:watfordmckenziecounty.net)
• Rapidly Growing Population: Building Inspector estimates actual population within city limits to be 6,000+ (source: Bismarck Tribune )
• Solid Retail Performance: Watford City is home to many solid retail businesses, including the #1 Kum and Go convenience store in the nation, with close to $1Million in monthly sales.
• Market rents: Commercial leases in Watford City have more than tripled since 2006 with average rents rising from $10 per sq. ft. to over $31 in 2013.
• Average HH Income 1 Mile: $57,194
• Average HH Income 3 Miles: $58,642
• Average HH Income 5 Miles: $59,600