The drought in 2022 took a toll on the economies of some agricultural states, including South Dakota. However, the state’s growing diversification is helping offset some of those losses. Tourism remains a large economic driver here, and new investments in manufacturing, renewable energies and batteries are opening doors to further growth. Gevo, Manitou and Æsir Technologies have all expanded in the Mount Rushmore State in the past year. Gov. Kristi Noem is now aiming to continually grease the wheels of economic momentum by maintaining some of the most favorable tax rates in the nation.
Favorable tax climate. 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 and 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.
sdgoed.com
siouxfallsdevelopment.com
elevaterapidcity.com
rushmoreregion.com
The Reinvestment Payment Program and South Dakota Jobs Grant Program assist companies in offsetting the upfront costs associated with relocating or expanding operations and/or upgrading equipment. They leverage sales and use tax rebates that are funded back to the project.
Based on CEO Survey by ChiefExecutive.net
| Key Metrics |
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Taxation and Regulations
Workforce Quality
Quality of Life
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| Key Companies |
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| Other Highlights |
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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
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
We are in a period of rapid change. Customer needs, technologies, competitors and internal capabilities require companies to review and update their strategies for the new realities. In this workshop, strategy experts Steve Rutan and Denise Harrison will show you a systematic approach to strategic planning to help you refine or redefine your business strategy and approach including:
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.
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.
