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South Dakota Resources Page
 

OEMs Supplying the Alternative Energy Industries

Area Development Online Research Desk (June/July 09)
A Google Maps mash-up charting alternative energy OEM cluster growth throughout the United States More

South Dakota Growth Fueled By Energy, Technology Sectors

Mali R. Schantz-Feld (Dec/Jan 09)
South Dakota ranks fourth nationally for wind energy potential based on average wind speed and suitable sites. More
State Contacts
South Dakota  At A Glance
POPULATION: 796,214 (2007 estimate, U.S. Census Bureau)

LABOR FORCE: 442,525 (2007 annual average, SD Dept. of Labor)

RIGHT TO WORK: Yes

TRADITIONAL INDUSTRIES: Agriculture, manufacturing

EXPANDING INDUSTRIES: Manufacturing, healthcare, financial activities

COLLEGE GRADUATES: (Age 25 and over) 25.3% (2006 estimate, U.S. Census Bureau)

BASIC BUSINESS TAXES:
Corporate Income Tax: None

Bank and Financial Corporation Excise Tax: Varies from 0.25 to 6 percent, depending on net income

Retail Occupational Sales and Use Tax: 4 percent on retail sales of tangible personal property and certain services; cities may option a local sales tax of up to 2 percent on the gross receipts of all sales

Contractors' Excise Tax: 2 percent tax imposed on the gross receipts of contractors who are engaged in construction services or realty improvements in South Dakota

Property Tax: Local real property taxes vary from 1 percent to 3 percent of the taxable value of the structure; no personal property tax and no business inventory tax

BUSINESS INCENTIVES:
REDI Fund (low-interest loans, typically 3 percent)
S.D. Economic Development Finance Authority (pooled bond program)
Industrial revenue bonds
Workforce development training Grants
Statewide CDC (SBA 504 Loan Program)
MicroLOAN South Dakota (low-interest loans for small companies)
APEX (value-added ag loan program)
Sales, use, and contractor's excise tax refunds for new and expanding businesses with minimum project costs of $10 million
Sales, use, and contractor's excise tax refunds for new and expanding value-added agriculture processing facilities with minimum project costs of $4.5 million

South Dakota Chart
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