Retail trade produced the most gross sales in the state in 2015, at $27.4 billion or 40.1 percent of the state’s total. Wholesale trade placed second with 25.1 percent of the state’s total gross sales while the service industry accounted for 15.4 percent.
With 16.4 billion in gross sales, Minnehaha led all other counties and increased its share of the state total from 22.7 percent to 24.1 percent. Buffalo county placed last out of 66 counties, at just $9.1 million in gross sales.
In 2015, metropolitan areas in the Rushmore State produced $26.1 billion in gross sales, up from $25.1 billion in 2014. The state’s micropolitan and rural areas gross sales declined from 2014. Rural areas in the state collected $8.5 billion in gross sales, down from $9.3 billion in 2014. Micropolitan areas in South Dakota decreased by $300 million from 2014-2015.
Rapid City and the Black Hills Region
Rapid City saw a substantial increase of $692 million in annual gross sales from 2014 to 2015, in inflation-adjusted dollars. The largest increases were seen in the service and retail industries, which grew by over $305 and $240 million, respectively. The manufacturing industry improved in 2015, with an increase of $26.7 million.
Gross sales are reported to the South Dakota Department of Revenue by businesses and organizations. The department aggregates these numbers and provides them to the public on a monthly basis. The state has no authority, however, to audit these reports for accuracy. In the past, significant taxpayer errors have come to light. In 2007 and 2008, for example, taxpayer errors likely contributed to an overstatement of gross sales in Pennington County by more than $1 billion. In the charts below, the totals reflect gross sales as reported by taxpayers without any corrections or adjustments by the state.
Gross sales continued to surge in Sioux Falls, rising 2.5 percent from 2013 to 2014 to a total of 14.6 billion dollars. The increase marks the fifth year of continuous growth since the Great Recession. Retail sales contributed the largest portion to total gross sales and came in at $7.6 billion, an increase of 260 million. Meanwhile, manufacturing declined from $1.03 billion to $964 million. Since the bottom of the Great Recession in 2009, real gross sales in Sioux Falls have increased from $10.8 billion to $14.6 billion in 2014, a 33.9 percent increase.