CEO Guide to Site Selection

South Dakota

FAST-GROWING FOR FAMILIES AND BUSINESSES

Sioux Falls has been ranked by several publications as one of the top 50 best places to live for families, and U.S. Census data ranks it as one of the fastest-growing cities in the Midwest. Population growth and business growth have led the Sioux Falls Development Foundation to align its workforce and talent development strategies with the region’s needs. It now has several programs, such as Career Connections, INTERN Sioux Falls and Your Future STEM, offering training, education and employment opportunities. In the summer of 2024, Italian agricultural equipment company Capello added a 24,000-square-foot expansion at its growing campus in Sioux Falls. Muth Electric also started operating out of a new 24,000-squarefoot building in Sioux Falls. The growing company now has 530 employees and 12 locations across South Dakota and Nebraska

“Our people are thriving, our economy is growing, and the state has never been in a more stable fiscal situation. We have cut taxes, created jobs and maximized opportunities. We have also learned that there is a trick to keeping that momentum going. We have learned that we have to tell our story in order to succeed. We can govern conservatively, but we also need to keep our foot on the gas. South Dakota’s success is unprecedented.”
Kristi Noem
Governor

TAXES

No corporate income tax

# 0

on the Tax Foundation’s State Tax Competitiveness Index

EDUCATION

0 %

of adults 25 years of age and older graduated high school

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2020 and 2023

KEY INCENTIVES

No corporate income taxes; no personal income taxes; no personal property taxes; no business inventory taxes; and no estate taxes.

Revolving Economic Development & Initiative (REDI) Fund: Available to startups, businesses expanding and/or relocating to South Dakota, as well as local economic development corporations. Approved funds can be used for purchase of land, buildings, machinery and equipment.

Local Infrastructure Improvement Program (LIIP): Provides communities with funds that aim to improve the quality of life for residents of the community. Projects include execution and completion of roads, storm sewers and community buildings.

EDCs

Governor’s Office of Economic Development

sdgoed.com

Sioux Falls Development Foundation

siouxfallsdevelopment.com

Elevate Rapid City

elevaterapidcity.com

Rushmore Region

rushmoreregion.com

HIGHLIGHTED PROGRAM OR INITIATIVE

South Dakota Works offers business and commercial loans to companies through the Governor’s Office of Economic Development to cover working capital, fixed assets and interim construction financing. The program typically targets loans of less than $1 million of a project in a subordinated lien position and requires a lender to participate.

BIG DEALS

  • Silverstreak Dairies is planning a $32 million expansion in Warner.
  • Centerville Manufacturing announced March 2024 an expansion in Centerville that will create 14 jobs.
  • Southern Sun announced in March 2024 a new facility that will create 21 jobs in the state.
  • Graco announced in May 2024 a major expansion in Sioux Falls.
  • Italian agricultural equipment company Capello opened an expansion in Sioux Falls in July 2024.

BIG COMPANIES

  • Citibank
  • 3M
  • Wells Fargo Bank
  • Esurance
  • Smithfield Foods
  • Premier Bankcard

No 15: South Dakota

No. 15

South Dakota

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
Taxation and Regulations

  • State Corporate Income Tax Rate: None
  • Highest Personal Income Tax Rate: None

Workforce Quality

  • % with High School diploma or more: 90.3
  • % with Bachelor’s degree or more: 25.1
  • % with Advanced degree or more: 7.3
  • Patents per 100K: 8.62
  • % of Employed Represented by Unions: 6.6

Quality of Life

  • Hopsitals per 10K: 0.644
  • Elementary/Secondary Schools per 1000 people: 0.955
  • Violent Crimes per 100K: 165.02
Key Companies
  • Blask Hills Corp.
  • NorthWest Corp.
  • LodgeNet Interactive
Other Highlights
  • South Dakota fell to #15 from #14 in 2010 — the state took #13 in 2009
  • South Dakota ranks #12 in state debt per capita with $4485

Sources:
TaxFoundation.org
Statemaster.com
Bureau of Labor Statistics
U.S. Census Bureau
U.S. Patent and Trademark Office
The National Center for Public Policy and Higher Education


Roundtable

Strategic Planning Workshop

1:00 - 5:00 pm

Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

Executives expressed frustration with their current strategic planning process. Issues include:

  1. Lack of systematic approach (70%)
  2. Laundry lists without prioritization (68%)
  3. Decisions based on personalities rather than facts and information (65%)

 

Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

Women in Leadership Seminar and Peer Discussion

2:00 - 5:00 pm

Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

Limited space available.

To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

Golf Outing

10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS

General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.