DOING BUSINESS IN SOUTH DAKOTA

South Dakota Governor’s Office of Economic Development
605-408-0877
Jesse.fonkert@sdgoed.com
sdgoed.com

Doing business in South Dakota

South Dakota offers freedom from high taxes and red tape. Our Freedom Works Here campaign showcases what our state has to offer, and it has reached millions nationwide. Businesses want to be a part of it – and we thank them for joining us!

— Chris Schilken, Commissioner,
Governor’s Office of Economic Development
Doing business in South Dakota
Downtown Sioux Falls is a mixture of economic development, residential living, and beauty. (Photo: South Dakota Tourism)

  FAST FACTS

Population (July 2022 est.): 909,824¹
Largest Cities: Sioux Falls (193,233); Rapid City (74,350); Aberdeen (28,442); Brookings (23,430); Watertown (22,613)¹
Real GDP (2022): $49.8 billion²

¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce

  TARGETED GROWTH SECTORS

Cybersecurity: Governor Noem identifies cybersecurity as South Dakota’s “next big industry.” Dakota State University is one of only 10 institutions in the country with designations in cyber operations, cyber defense, and cyber research from the NSA and Homeland Security. Our “scientific and technical services” sector is our fastest growing, adding 4,000 jobs in the past five years.


Manufacturing: Our fourth largest industry, manufacturing has grown 39.2% since 2012. Our manufacturers are creating products (like medical devices, electronic billboards, and even Girl Scout cookies) we depend on in our everyday lives.


Livestock Development, Precision Ag, and Value-Added Ag: Agriculture is the foundation of South Dakota’s economy. From seed to table, we are focused on innovating and growing the industry.

  TOP PROJECTS

COMPANY
LOCATION
INVESTMENT
Gevo
Lake Preston
$977 million
High Plains Processing
Mitchell
$503 million
3M
Brookings
$468 million
Redstone Dairy
Esmond
$182 million
Manitou
Madison, Yankton
$80 million

  WORKFORCE PROGRAM

Our “Freedom Works Here” workforce recruitment campaign has raised the bar for South Dakota’s workforce. We rely on our greatest marketing asset, Governor Kristi Noem, to tackle our biggest challenge by sharing what makes South Dakota special: our Freedom.

  TOP BUSINESS FACILITIES RANKINGS

#2 Best Business Tax Climate
2023 State Rankings
Top 5 Fastest Growing Population
2023 State Rankings
Top 10 Manufacturing Jobs (% of workforce)
2023 State Rankings
Top 10 Agribusiness
2023 State Rankings
Top 10 Best Business Climate (Small): Sioux Falls
2023 Metro Rankings

From the July / August 2023 issue of Business Facilities

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