ECONOMY IN SOUTH DAKOTA

  • In 2016, South Dakota ranked 23rd among the 50 states for economic output per working age adult, at $77,644. This compared to No. 1 Delaware, at $100,269, No. 50 Mississippi, at $50,138, and the national average, at $78,304.

  • South Dakota's tourism tax is on the upswing, going from $745 million in 2015 to $831 million in 2016. (Inflation adjusted figures are used based on 2016 dollars.) South Dakota's tourism tax revenue has continued to increase year over year since 2011. 

  • South Dakota's gross sales decreased slightly in 2016 to $67.5 billion, down from $69.1 billion, (inflation adjusted dollars) in 2015. 

  • Jobs in South Dakota resumed modest annual growth in 2011 after the state shed jobs in 2009 and 2010. Jobs in the Rushmore State hit an all-time high in 2016 at 432,700. The figures exclude the self-employed as well as agriculture, domestic and military workers.

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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Tuesday, 03 March 2015 17:00

South Dakota Lost 300 Farms in 2014

The number of South Dakota farms dropped by 300 in 2014, down to 31,700, reports the Tri-State Neighbor.

According to the USDA's National Agricultural Statistics Services, the number of operations making more than $100,000 in sales increased by 100 while the number of those with sales less than $100,000 dropped by 400. 

The Sioux Falls Argus Leader reports that South Dakota's farm and ranch land totaled 43.3 million acres, the same as 2013. The average size for a farm or ranch was 1,366 acres. 

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Wednesday, 11 February 2015 17:00

SD No. 4 For Deficient Bridges

With 20 percent of its bridges deemed structurally deficient, South Dakota is near the top nationally on that score, reports the Washington Post. The Rushmore State is within a few percentage points of the No. 1 spot, and well ahead of some states that have rates in the low single digits. 

South Dakota's neighboring states of Iowa and Nebraska are in the same boat, with No. 3 Iowa approaching 21 percent and No. 6 Nebraska at more than 17 percent. Rhode Island is No. 1 at 22.72 percent, while Pennsylvania is No 2 at 22.26 percent. 

In South Dakota, 1,174 of our 5,872 bridges are deemed deficient, which means engineers have found at least one component in need of repair. 

When bridge engineers evaluate a bridge, they grade the condition of each of its major components -- its supports, the deck that vehicles travel across, etc. -- on a 0 to 9 scale. If any of these components receive a grade below a given threshold, the bridge is deemed structurally deficient. It needs some repair work to get back up to snuff.

Former national Transportation Secretary Ray LaHood has said these bridges are not necessarily "unsafe" but that they are "dangerous." 

 

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Monday, 19 January 2015 17:00

Manufacturing, Wholesale Trade Surge in SD

The manufacturing sector is on a tear in South Dakota, accounting for more than half of the 3,500 jobs created statewide between November 2013 and November 2014, according to recently updated federal data

The wholesale trade sector runs a close second, with 1,400 new jobs over the 12-month period compared to manufacturing's 1,800 new jobs. Government and "other services" tie for the No. 3 spot with 800 new jobs in each sector. 

Three sectors shed jobs during that time - leisure/hospitality (-700), education/health (-600) and retail trade (-500). 

Statewide, jobs grew by 0.8 percent from November 2013 to November 2014, for 422,200 jobs and ranking South Dakota 41st nationally. Oil-boom states North Dakota and Texas led the nation, with job growth rates of 4.9 percent and 3.9 percent respectively. Mississippi and Alaska ranked at the bottom for job growth and were the only two states to lose jobs in the 12-month period, down 0.1 percent and 0.3 percent respectively. 

South Dakota's recent job growth appears concentrated in the metropolitan areas, with jobs flat in the micropolitan and non-metropolitan areas. 

Find much more data, exportable images and downloadable files about Jobs on the South Dakota Dashboard.

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