While the nation's economic and political environment has created a definite downturn in our State and city's economy, South Dakota is considered to be one of the States who will be quickest to recover. Why? Because in South Dakota, we have always believed that it is not government, but rather
You are what makes South Dakota work
Legislators, however, can enhance or jeopardize the competitiveness of our State. Tax policy matters!
South Dakota's 2008 per capita state tax burden of $1650* is the lowest in the nation. Public policy matters! Factors such as right-to-work laws, low workmen compensation rates, fair state liability systems, and quality of life all weigh favorably for South Dakota. * www.taxfoundation.org
Policy decisions made over decades in South Dakota have created this favorable atmosphere for business and job growth. As a member of the majority party that has safeguarded these policies, I remain committed to you and to future South Dakotans to preserve them.
What are we doing right?
* No state personal tax or individual capital gains tax
* No state corporate income tax or state corporate capital gains tax
* No inheritance tax
* Stable sales and use tax
* Decreasing property tax burden
* Right to work state
* Favorable state liability system
* Favorable workers' compensation costs
Sioux Falls continues (8th year in a row) to rank #1 in the country in Forbes "Best Small Metro Area for Business and Careers;" Rapid City ranks #11.
South Dakota ranks #1 as the most entrepreneur-friendly state under the "Small Business Survival Index 2009" by the Small Business & Entrepreneurship Council. (sbecouncil.org)
South Dakota ranks #1 in the country for a "tax-friendly" climate in the 2008 Tax Foundation's State Business Tax Climate Index. (taxfoundation.org)
South Dakota ranks #4 for Economic Outlook in the "State Competitiveness Index conducted by the American Legislative Exchange Council. This study focuses on the policies that legislators control that can make their state a desired location. (alec.org)
South Dakota ranks #6 in the Pollina Corporation's "Top 10 Pro-Business States for 2009." South Dakota has been in the top 10 every year since the ranking began in 2004. (pollina.com)
South Dakota's unemployment rate in January--February 2010 was 4.8%, the 3rd lowest in the country. (Bureau of Labor Statistics)
State Personal income growth in South Dakota of 2.2% was the highest in the nation for the fourth quarter of 2009 due in large part to our agriculture sector. (U.S.Bureau of Economic Analysis)