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South Dakota is 15th Best State for Business 2014

Topping Bankrate.com’s Best States for Retirement, CNBC says that North Dakota has a lot going for it, including a low cost of living, crime rate and taxes and quality healthcare. Home to Mount Rushmore, the cost of living is more than 18% lower than the national average, according to published reports.

Previous State: Wisconsin Next State: Colorado

No. 15 South Dakota

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 3.1
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): -2.3

Unemployment

  • Unemployment Rate Dec. 2013 %: 3.6
  • Comparison with Nat’l Rate (6.70%): -3.1

Domestic Migration

  • Domestic Net Migration 2013: 4,762
  • Rank: 15

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 4,551
  • State & Local Gov’t Employees per 10k Residents: 545.7

State-Local Tax Burden

  • Rate (%): 7.6%
  • Compared to Nat’l Avg. (9.9%): -2.28%
Key Companies
  • Blask Hills Corp.
  • NorthWest Corp.
  • LodgeNet Interactive
Development Trend Indicator: Positive
Employment shows vigor as legislature enacts economic-development package.


Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

About JP Donlon

JP Donlon is the Editor-in-Chief of Chief Executive magazine.