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Drought Affects ND Economy

By Clip Syndicate
This current drought could end up costing the state billions. Video: Drought Affects ND Economy
This current drought could end up costing the state billions. Fri, 14 Jul 2017 03:00:32 +0000 Drought Affects ND Economy This current drought could end up costing the state billions. KXMB look at how this drought is taking a toll on north dakota's economy. (lauren kalberer/kx news) the north dakota man who's being accused of kidnapping... (chad mira/kx news) "the buildings are just in severe disrepair with a lot of settling." residents in parshall have a decision to build or not to build. (lauren kalberer/kx news) this current drought could end up costing the state billions. good evening, i'm....i'm lauren kalberer, and i'm chad mira. (chad mira/kx news) in tonight's top story... we are in the midst of the worst drought we've seen in decades. watch how the drought monitor has changed over the last couple of months. last time it was this severe, the state lost out on billions of dollars. another warm day with no rain for most of our farmers. pete hanebutt ndfb: "there will be some folks that will possibly be put out of business by this." the last time there was a drought this bad through june was in 1988. "it will end up being significant and i think everybody sees the writing on the wall for that." ndsu has since studied that 1988 severe it even brought good morning america out to napoleon for national coverage. (graph) small grain losses were reported at 71 percent. 68 percent for hayland. 60 percent for pasture. imagine if you had to skip a few paychecks. "you're not generating revenue for weeks and weeks and weeks on end." chad mira kx news: "the drought has impacted the sale of certain farm equipment but the sale of other stuff like this hay equipment is actually selling really well." shannon dean butler machinery: "you have to do a better job of getting that grass than you've ever done because it is such a commodity." more people are considering used equipment. "new equipment and used equipment. it's probably a 50 50 split." but still willing to invest at least a little...which is good. because farmers aren't the only ones who will feel the impacts of the drought. "it has a ripple effect across the entire economy when agriculture is spite of oil, we're still an ag state and probably always will be." n-d-s-u found that in 1988 there was a 900 million dollar direct loss for the economy due to yield reductions. but that ripple effect...a 1.8 billion dollar indirect loss for ag-dependent communities. experts say not to worry...we've been through it before. "we will recover. the ag economy is resilient." "do we wish it was raining, absolutely. do we pray for it every day. we do. but will be come through it? absolutely we will." they say that's the north dakota way. (for morning: in bismarck, chad mira, kx news.) (chad mira/kx news) north dakota state also surveyed 466 producers after the 1988 drought. 91 percent of them said they received federal drought assistance through various programs. that year, total federal aid added up to 1.27

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