#15 South Dakota
From the Governor
“We are home to an advantageous tax structure, an independent streak that helps keep regulations at a minimum and a legendary work ethic backed by top-performing universities and technical schools.” —Gov. Kristi Noem
More than Agriculture
Diversifying beyond its agricultural heritage, South Dakota currently has one of the country’s fastest-growing economies. In Sioux Falls, SAB Biotherapeutics announced it will establish its corporate headquarters at the Discovery District and engineering firm ISM is expanding with a new office. At the Sanford Underground Research Facility in Lead, the Deep Underground Neutrino experiment is attracting global interest, with the potential for scientific breakthroughs.
No corporate income tax, personal income tax, personal property tax, business inventory tax or inheritance tax.
Workforce Development Program: Offers funds to cover up to 50% of the eligible technical training expenses for companies that create jobs paying at least $12 per hour.
Jobs Grant Program: Offers funds to help offset the costs associated with relocating or expanding operations or equipment. Offered for facility projects with costs of less than $20 million and equipment upgrades of less than $2 million.
Energy ONE Incentive: Offers a special, energy-only rate fixed for three years for new retail loads with an approximate demand of one megawatt or higher.
Ethanol Infrastructure Incentives: Offers funds to cover up to 90% of the cost of pump storage tank installation for companies involved in the development of the ethanol industry.
South Dakota Governor’s Office of Economic Development: sdreadytowork.com
Sioux Falls Development Foundation: siouxfallsdevelopment.com
Forward Sioux Falls: forwardsiouxfalls.com
Rushmore Region Economic Development Alliance: rushmoreregion.com
Highlighted Program or Initiative
Discovery District, an 80-acre planned corporate and academic research park at the University of South Dakota in Sioux Falls, aims to offer a new center for biotech research facilities and infrastructure in the region.
- The Deep Underground Netrino experiment broke ground in 2017 at the Sanford Underground Research Facility in Lead.
- Great Plains Processing (GPP) announced in November 2017 an expansion and 20 new jobs in Yankton.
- Engineering firm ISM announced in December 2017 it will locate an office in Sioux Falls.
- Agropur broke ground in February 2018 on an expansion of its cheese manufacturing facility in Lake Norden. It is expected to be operational by early 2019 and will create 125 new jobs.
- Utility equipment manufacturer Terex Utilities announced in April 2018 it will consolidate its manufacturing operations into a new facility in Watertown.
- SAB Biotherapeutics announced in June 2018 it will establish its corporate headquarters at the Discovery District in Sioux Falls.
Tyson Fresh Meats
Citibank South Dakota NA
Larson Manufacturing Co.
“The Lake Norden project is an important part of our long-term business strategy, which targets continued expansion through acquisitions as well as organic growth.” —Robert Coallier, CEO, Agropur
“Having access to a pipeline of valuable, talented workers is extremely important for ISG to thrive and build employee ownership…. We look forward to building a relationship with regional schools and development leaders who share in our firm’s culture and values.” —Chad Surprenant, PE, President and CEO, ISG
“Working with everyone from the local to the state level has made this expansion as seamless as possible. We’re proud to manufacture a product with the highest quality standard around and excited to bring our process and company to South Dakota.” —Quintin Honerman, President, GPP
“The company chose to build our business in South Dakota because of the ability to get things done and move the business forward.” —Eddie J. Sullivan, President and CEO, SAB Biotherapeutics