Economy

New federal rules designed to protect sage grouse habitat will also restrict oil and gas drilling, reports the Associated Press. In South Dakota, both the sage grouse habitat and the bulk of oil and gas activity lie in the northwestern part of the state.

The move -- announced May 28, 2015 -- amounts to the "federal government's biggest land-planning effort to date for conservation of a single species," reports the AP. The plan would require oil and gas drills to be clustered rather than located across a wider area of habitat. 

The government states

The updated plans are central to the U.S. Fish and Wildlife Service's review of the native grouse's "candidate" status under the Endangered Species Act, which is due Sept. 30, 2015.

What was released May 28 was a series of environmental impact statements, which will be followed by a 60-day review period and then a final decision expected by the end of the summer, according to a government news release.

"The Bureau of Land Management (BLM) and the U.S. Forest Service (USFS) have finalized environmental review for proposed land use plans that will conserve key sagebrush habitat, address identified threats to the greater sage-grouse and promote sustainable economic development in the West," reads a Fact Sheet about the 10-state initiative.

South Dakota's neighbor to the west, Wyoming, has the largest sage grouse population among the 10 states. 

More Information 

Greater Sage Grouse government maps 

Information about South Dakota's Resource Management Plan from the Bureau of Land Management

South Dakota Resource Management Plan/Environmental Impact Statement from the Bureau of Land Management

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Growth in South Dakota's three metropolitan areas is driving the state's tourism tax on an upward trend, while growth has been modest in the state's nine micropolitan areas and its non-metro areas, according to recently updated data from the South Dakota Department of Revenue

In 2014, the state's overall taxable tourism sales increased 6.8 percent over 2013, continuing a three-year upward trend after a 2010 spike was followed by a 2011 drop. Growth within the Rapid City, Sioux Falls and Sioux City metro areas accounted for 55 percent of the state's overall $11 million of tourism tax receipts in 2014, up from 53 percent in 2013 and 47 percent in 2012. (All figures are inflation-adjusted to 2014 dollars.)

In 2010, South Dakota's non-metro areas accounted for 17 percent of taxable tourism sales, but that share has since dropped to 10 percent. Micropolitan areas made up more than 25 percent of the state's taxable tourism sales in 2010 and have dipped to a bit more than 23 percent in 2014. 

In 2014, taxable tourism sales in South Dakota hit a six-year high of nearly $732 million, up from $685 million in 2013. During the 2010 spike, taxable tourism sales climbed to more than $673 million, up from 2009's $636 million. In 2011, taxable tourism sales dipped to $655.6 million and remained flat into 2012 before resuming growth in 2013, which hit $685 million.

The Black Hills region -- driven largely by the four key counties of Pennington, Lawrence, Meade and Custer -- accounted for nearly half of the state's taxable tourism sales in 2014. Pennington County (home to Rapid City and Mount Rushmore) maintained its commanding lead, accounting for more than 30 percent of the state's taxable tourism sales in 2014. 

No. 2 Minnehaha County (home to Sioux Falls) put up less than half of that at 14.3 percent. No. 3 was Lawrence County (home to Deadwood) at 9.1 percent, followed by No. 4 Meade County (home to Sturgis) at 4.7 percent and No. 5 Custer County at 4 percent. 

Lodging accounts for the vast majority of the state's taxable tourism sales, with that industry sector making up 58 percent of taxable tourism sales in 2014. This sector increased from 53.8 percent of taxable tourism sales in 2009 to 56.7 percent in the 2010 spike and has continued making small gains since. 

The No. 2 sector, shops and markets, accounted for 11.6 percent of taxable tourism sales in 2014, down from the six-year high of 14.8 percent recorded during the 2010 spike but not back down to 2009's 9.3 percent. No. 3 visitor attractions accounted for 9 percent of taxable tourism sales in 2014, continuing a steady slide since 2009 when it was 12 percent.

Recreational services and rentals accounted for 6.1 percent in 2014, down from a six-year high of 8.1 percent in 2011. Restaurants accounted for 2.7 percent in 2014, a six-year high for that sector. Spectator events and "other visitor-related businesses" accounted for less than 1 percent each. 

 

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The South Dakota Governor's Office of Economic Development works to expand primary job opportunities for all South Dakotans. They strive to retain and expand existing businesses, foster new businesses, facilitate business succession and recruit out-of-state businesses. The office works closely with community economic development corporations to expand and diversify the state’s industry and economy. Additionally, the GOED administers a variety of financing opportunities available to new and existing businesses.

The following are resources the South Dakota GOED offers on South Dakota. 

  1. Financing and Incentives- Whether users already operate a business in South Dakota, are starting up a business in South Dakota, or are looking to expand or relocate from outside the state, the SD GOED offers financing programs and information targeted at growing businesses. 
  2. Key Industries- This section provides users specific industry overviews. 
  3. Site Selection DataHere users can find data ranging from a 50 state comparison of tax and workforce statistics to current transportation and quality of life information.
  4. Real Wage Calculator- This tool calculates the impact of income taxes and cost of living on wages across the nation.
  5. GOED Blog- This blog houses features content and updates about the South Dakota GOED and its activities. 
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Advocates for renewable energy say the industry brings economic benefits to the Dakotas. A new report from a coalition supporting renewable fuels shows the industry is responsible for jobs, wages and output in the billions of dollars, reports South Dakota Public Radio.

The Fuels America coalition is a non-partisan group of renewable energy stakeholders. The coalition released a study for 2014 that shows the ethanol and biodiesel industries are directly responsible for more than 8,000 South Dakota jobs. Add in jobs for supply and more related to renewable energy, and the report says South Dakota has more than 26,000 jobs in the industry.

Listen to the full report online. 

See a table that breaks down the impact online and attached to this post. See an interactive map with economic impact for all 50 states online.

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After four years of slow but steady growth in median income, South Dakotans who live outside a metropolitan or micropolitan area are closing the income gap with their city cousins, according to federal data recently updated through 2013. 

While South Dakotans who live in metro areas still take home more bacon to the tune of $11,000 per year, those in metropolitan areas have seen median incomes stagnate and dip in recent years while their country cousins have chugged upwards. The gap between South Dakotans of non-metro and metro status has gone from $17,000 in 2008 to $10,000 in 2012, the smallest such gap since at least 1999. 

It was a rural county -- Bon Homme County -- that saw the state's largest percentage increase in median income between 2012 and 2013. Bon Homme County was up 9.5 percent, from $41,827 to $45,803.

As non-metro incomes continued their steady growth, metro incomes resumed growth between 2012 and 2013, widening the gap to $11,000.

In 2013, South Dakotans living in metropolitan areas logged a median income of $54,781 compared to $43,650 for those in non-metropolitan areas and $48,638 for those living in micropolitan areas. The state as a whole showed a median income of $49,200 in 2013. (The median income for South Dakota's micropolitan areas has closely tracked the median income for the state as a whole since 1999. Both remain virtually unchanged when inflation is factored in.)

The Black Hills region has seen a similar stagnate trend, however the median income in the Black Hills has slipped in recent years, and now a gap exists between the region and the state as a whole. The median income in the Black Hills region has held at about $47,000 since at least 1999, keeping it virtually even with the overall state figure. But when the state's overall median income ticked up to nearly $50,000 in 2011, the Black Hills region remained at $47,000 and then dipped to $46,750 in 2013. 

Among the state's nine micropolitan areas, the Pierre micropolitan area (Hughes, Stanley, and Sully counties) ranked No. 1 at $58,121. The Vermillion micropolitan area (Clay County) is last at $38,173.

Among South Dakota's 66 counties, Lincoln County in the Sioux Falls metro area maintained its No. 1 spot, with a median income of $78,567 in 2013. Buffalo County, on the Crow Creek Indian Reservation, stayed in last place with a median income of $21,572. Buffalo County also logged the largest percentage drop in median income, at 15.6 percent, down from $25,552. 

The city of Harrisburg, in Lincoln County, claims the No. 1 spot for South Dakota's most populous 27 cities, with a median income of $72,404 in 2013. The city of Tea, also in Lincoln County, is at No. 2 with $71,975. All of the top five cities are in southeast South Dakota, and four are bedroom communities to the largest city of Sioux Falls, which ranks No. 7 with $51,672. 

The state capital of Pierre is No. 6 at $55,063, while third-largest Aberdeen ranks No. 9 at $47,963 and second-largest Rapid City ranks No. 11 at $46,370.

 

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Monday, 13 April 2015 00:00

Manufacturing Leads SD For Jobs Growth

Manufacturing led the way for job growth in South Dakota between February 2015 and February 2014, according to recently released federal data.

That sector added 1,700 jobs year-over-year, followed closely by the Education/Health sector, which added 1,600 jobs. Other year-over-year growth sectors included the following:

  • Wholesale Trade (up 1,000 jobs)
  • Mining/Logging/Construction (up 900 jobs)
  • Retail Trade (up 800 jobs)
  • Services (up 400 jobs)
  • Goverment (up 200 jobs) 

The Leisure/Hospitality sector led for job losses, down 700 year-over-year. The Professional/Business Services and Financial Activities sectors were down 400 jobs each, while the Transportation Sector was down 100 jobs and the Information sector held steady with no gains or losses. 

Overall, South Dakota added 5,000 jobs from February 2014 to February 2015, a 1.2 percent increase. That ranks the state 41st among the 50 states for year-over-year job growth and sets us just ahead of neighboring Nebraska, which saw 1.1 percent growth, and ahead of Montana, which tied with West Virginia for last place with 0.3 percent growth.

Utah, with 4.2 percent job growth, edged out neighboring North Dakota for the No. 1 slot. North Dakota logged 4 percent job growth and easily led the region, besting No. 27 Minnesota (1.7 percent growth), No. 30 Iowa (1.6 percent growth) and No. 35 Wyoming (1.4 percent growth).

When looking month-over-month, February 2015 marked South Dakota's best month for jobs growth since June 2014. From January 2015 to February 2015, the state added 3,500 jobs. That followed three straight months of downturns, including a 12-month record drop of 9,600 jobs between December 2014 and January 2015.

 

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Monday, 13 April 2015 00:00

Manufacturing Leads SD For Jobs Growth

Manufacturing led the way for job growth in South Dakota between Febrary 2015 and February 2014, according to recently released federal data.

That sector added 1,700 jobs year-over-year, followed closely by the Education/Health sector, which added 1,600 jobs. Other year-over-year growth sectors included the following:

  • Wholesale Trade (up 1,000 jobs)
  • Mining/Logging/Construction (up 900 jobs)
  • Retail Trade (up 800 jobs)
  • Services (up 400 jobs)
  • Goverment (up 200 jobs) 

The Leisure/Hospitality sector led for job losses, down 700 year-over-year. The Professional/Business Services and Financial Activities sectors were down 400 jobs each, while the Transportation Sector was down 100 jobs and the Information sector held steady with no gains or losses. 

Overall, South Dakota added 5,000 jobs from February 2014 to February 2015, a 1.2 percent increase. That ranks the state 41st among the 50 states for year-over-year job growth and sets us just ahead of neighboring Nebraska, which saw 1.1 percent growth, and ahead of Montana, which tied with West Virginia for last place with 0.3 percent growth.

Utah, with 4.2 percent job growth, edged out neighboring North Dakota for the No. 1 slot. North Dakota logged 4 percent job growth and easily led the region, besting No. 27 Minnesota (1.7 percent growth), No. 30 Iowa (1.6 percent growth) and No. 35 Wyoming (1.4 percent growth).

When looking month-over-month, February 2015 marked South Dakota's best month for jobs growth since June 2014. From January 2015 to February 2015, the state added 3,500 jobs. That followed three straight months of downturns, including a 12-month record drop of 9,600 jobs between December 2014 and January 2015.

 

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South Dakota personal income increased by 1.7 percent, making South Dakota 47th in the nation for growth, according to estimates released today by the U.S. Bureau of Economic Analysis. Nationwide, the average state personal income growth grew to 3.9 percent in 2014, up from 2.0 percent in 2013. The average per capita personal income in South Dakota was $46,345 in 2014, putting the state 21st in the U.S. rankings.

The estimates also show a trend of farm earnings declines which have contributed to relatively slow personal income growth in South Dakota,  Illinois, Indiana, Iowa, Kansas, Mississippi, and Missouri.

Additionally, South Dakota was ranked last in growth of property income (dividends, interest, and rent) with only a 2.5 percent increase from 2013 to 2014.

To read more about these estimates, view the full report here

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International exports from South Dakota totaled $1.6 billion in 2014, according to a new report from the U.S. Department of Commerce. Canada was the state’s largest trading partner, accounting for $715 million or 44.9 percent of the state’s total merchandise exports, while goods sold to Mexico totaled $344 million.

Food & Kindred Products accounted for nearly a third, $552 million, of South Dakota’s total merchandise exports in 2014. The category for Machinery, Except Electrical, finished second with $330 million in sales.

Sioux Falls dramatically outpaced Rapid City in total exports, with $433 million in sales, compared to $30 million.

For more information, see the U.S. Department of Commerce report.

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Agriculture's impact on Sioux Falls is difficult to measure, according to a report in the Argus Leader. 

According to officials the city's two-cent sales taxs brought in $117.3 million in sales tax revenue in 2014. City Finance Director Tracy Turback alleges that agriculture-related taxable sales make up less that one percent of that total. 

The 2014 Municipal Tax Report shows $2,655,128,31 in veterinary services for livestock and other livestock services, $796,582.65 in farm machinery and equipment sales, $10,692,057.95 in farm supplies, and $3,690,382.54 in farm and garden machinery and equipment sales under wholesale trade. All of that combined totals just over $17.8 million.

Sioux Falls Mayor Mike Heuther says that he doesn't need to see numbers to know ag's impact on his city. He states that rural South Dakota is coming to the big city all the time to do business.

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