State Resources
South Dakota Business Resources | ||||
South Dakota is located in the north-central United States. South Dakota’s economy is centered on agriculture due to its fertile soils and abundant grazing lands. Ranches and farms cover over ninety percent of the state, making farming a central way of life for residents. Railroad construction and gold mining during the 1870s gold rush sparked important growth for South Dakota’s economy. Gambling and tourism have recently increased in importance. Among the more popular destinations are the Badlands and the Black Hills, which features Mount Rushmore, an important symbol of American pride. South Dakota is also recognized as one of the friendliest states for businesses. South Dakota doesn't tax personal income, capital gains, corporate income or corporate capital gains. In addition, there is little crime, and energy costs are relatively low. | ||||
Business Data | ||||
Per Capita Real GDP | $35,842 Rank: 23/50 (2006) | |||
Population | 754,844 Rank: 46/50 (2000) | |||
Per Capita Personal Income | $33,929 Rank: 26/50 (2006) | |||
Unemployment Rate | 2.60% Rank: 1/50 (2008) | |||
Business Tax Climate Index | Rank: 2/50 (2008) | |||
Corporate Tax Rate | 0 | |||
Individual Tax Rate | 0 | |||
Sales Tax Rate | 4% | |||
Business Tax Climate Index | ||||
Individual Income Tax Index Rank | 1 | |||
Sales Tax Index Rank | ||||
Unemployment Insurance Tax Index Rank | ||||
Property Tax Index Rank | ||||
Business Tax Climate Index | ||||
Corporate Tax Index Rank | 1 | |||
State Information | ||||
Abbreviation | SD | |||
Capital | Pierre | |||
Nick Name | Mount Rushmore State | |||
State Web Site | http://www.state.sd.us | |||
Motto | Under God, the people rule | |||
Top 5 Export Partner Countries | Canada, Mexico, China, Hong Kong, United Kingdom | |||
Top 5 Export Merchandise | Machinery Sales Computers and Electronic Products Sales Computers and Electronic Products Manufacturing Electrical Equipment Manufacturing Machinery Manufacturing | |||
Major Cities | Sioux Falls | |||
GDP | ||||
Total Gross Domestic Product (USD Millions) | $33,934.00 (2007) | |||
Per Capita Real GDP (USD) | $35,596.00 Rank: 25 (2007) | |||
Population Stats | ||||
Population | 804,194 Rank: 46 (2008) | |||
Age Distribution | ||||
Under 18 Population | 202,649 | |||
Under 18 Percent of Total Population | 27% | |||
65 and older Population | 108,131 | |||
65 and older Percent of Total Population | 14% | |||
Gender Distribution | ||||
Male Population | 49.6% | |||
Female Population | 50.4% | |||
Non-English Speaker (at home) | 36,509 | |||
Net International Immigration | 3,957 | |||
Birth Rate | 14.7% | |||
Percent of People Under Poverty Level | 13.6% | |||
Rank | 19 | |||
Expenditure | ||||
Per Capita State Spending | $21,278 | |||
Rank | 22 | |||
Energy Expenditures per Person | $4,017 | |||
Expenditures of State and Local Government Employee-Retirement Systems | $254,888 | |||
Revenue | ||||
Personal Income | $41,062 | |||
Rank | 26 | |||
State Internal Revenue Collection | $4,765,559 | |||
Rank | 45 | |||
Cash and Deposits by State Government | $541,333 | |||
Per Capita State Tax Collection | $1,516 | |||
Rank | 50 | |||
Education | ||||
High School Graduation Rate | 82% | |||
Rank | 5 | |||
Percent of Population with a Bachelor's Degree | 17.5% | |||
Rank | 22 | |||
Percent of Population with an Advanced Degree | 7% | |||
Rank | 44 | |||
Largest Universities | Black Hills State University South Dakota State University University of South Dakota | |||
High School Graduation Rate | 82% | |||
Logistics | ||||
Public Road Length (Mile) | 84,229 (2005) | |||
Gas Tax Rate (%) | 22% | |||
Highway Planning and Construction (USD Thousands) | 220,571 | |||
Number of Public Airports | 75 | |||
Main Airports | FSD: Sioux Falls | |||
Ports | ||||
Weather | MapView Larger Map | |||
State Business Links | ||||
Argus Leader | ||||
http://www.argusleader.com | ||||
Secretary of State | ||||
South Dakota Secretary of State | ||||
http://www.sdsos.gov/ | ||||
Information on elections, voting, absentee ballots and election returns | ||||
Small Business Administration | ||||
Top 10 Business Links | ||||
Business Research Bureau (BRB) | ||||
http://www.usd.edu/brbinfo/ | ||||
The bureau is part of the University of South Dakota that primarily conducts economic research of the state. It also uses its research expertise to assist both local and national businesses. Additionally, the BRB is the publisher of the South Dakota Business Review. | ||||
South Dakota Chamber of Commerce & Industry | ||||
http://www.sdchamber.biz/ | ||||
The chamber represents businesses in South Dakota, especially in the areas of corporate taxation and employee compensation. Aside from those, it also creates networking opportunities for its members, and assists them in adapting to regulatory changes. | ||||
South Dakota International Business Institute | ||||
http://www.sd-exports.org/ | ||||
The SDIBI is a partnership between South Dakota, and Northern State University, that is dedicated to promoting international trade for state businesses. It provides companies with education programs and free consultation, coupled with easy access to financing. The institute also maintains some resources, and an international database to facilitate networking opportunities. | ||||
South Dakota Technology Business Center (SDTBC) | ||||
http://www.sdtbc.com/ | ||||
The center exists to foster a diverse state economy, by promoting the growth of technology-based businesses. Focused mostly on start-ups, it offers and leases basic infrastructure that entrepreneurs need to establish themselves initially. Other services include consultations, networking, and funding assistance. | ||||
State Data Center (SDC) | ||||
http://www.usd.edu/sdsdc/ | ||||
SDC is a division of the University of South Dakota Business Research Bureau. It is the primary census center for the state, and provides various demographical data. Information can be sorted by county, as well as the year in which they were collected. | ||||
U.S. Export Assistance Center of Sioux Falls, SD | ||||
http://www.buyusa.gov/southdakota/ | ||||
The Sioux Falls branch of the Department of Commerce, serving South Dakota, specializes in helping small to medium sized companies develop and execute exporting strategies. Fees vary and are based on the service being provided. | ||||