Static IP addresses are very useful on networks where a lot of devices are managed and/or you need to track specific devices for any reason. In my specific case, I have a multi-purpose server where I manage specific rules related to port management. The easiest application for port management is to assign a static IP.
In linux, there are various different network management tools available. In my opinion, the most intuitive tool for local system IP address management for a server is dhcpcd as it is very simple to use and gets the job done.
I appended the following snippet to the bottom of /etc/dhcpcd.conf which allowed for static assignment.
static domain_name_servers=188.8.131.52 184.108.40.206