South Dakota's next budget is being shaped amidst healthy signs in sales tax collections.
South Dakota's next budget is being shaped amidst healthy signs in sales tax collections.
Oct 29, 2015

SD Economy Picks Up After Sluggish FY2015

The state of South Dakota has collected 5 percent more in sales tax since July 1 in 2015 than the previous year, reports the Rapid City Journal

That makes for a marked increase over the 2.2 percent boost in sales tax for the entire fiscal year of 2015, which ended June 30. A member of the governor's staff gave updated information to the Governor’s Council of Economic Advisers as work is underway on the state's budget for Fiscal Year 2017, which begins July 1, 2016, and which the state Legislature will approve by March 2016.

The council also was told that South Dakota's gross domestic product fell 0.9 percent in 2012, then grew by 0.9 percent in 2013 and 0.6 percent in 2014.

The FY2017 budget will include a 0.3 percent inflationary increase in funding for K-12 schools and a 2.1 percent increase to healthcare providers. Also, the budget presented to state lawmakers by Gov. Dennis Daugaard on Dec. 8 will include $5.3 million to help offset tuition consts for South Dakota residents at public universities and technical institutes. 

 

Related items

  • Nursing Pays In South Dakota

    A great deal of concern has been voiced recently regarding wages for registered nurses (RNs) in South Dakota. A recent article argued that South Dakota’s…
  • Labor Market Report Demonstrates Need for Diversified Economic Development

    The South Dakota Department of Labor and Regulation (SDDLR) recently released an expansive review of the state’s labor market conditions. The report provides insights into…
  • South Dakota Sees Small Growth In Personal Income Compared To Neighbors

    According to new estimates released by the U.S. Bureau of Economic Analysis (BEA), personal income increased in 2,787 U.S. counties, decreased in 318, and remained…
  • South Dakota Dashboard Launches New Beta Data Visualizations

    We've been listening! At the South Dakota Dashboard we continually brainstorm how our website can best serve the data users of South Dakota. Over the…
  • Rural Broadband Deployment in South Dakota Ahead of National Averages

    Rural South Dakotans have greater access to wired broadband telecommunications services than many of their counterparts across the country, according to a new report released…

525 University Loop, Suite 202
Rapid City, SD 57701
(605) 716-0058   [email protected]