December 19, 2011PIERRE, S.D. – It took South Dakota Gov. Dennis Daugaard less than two days to attract the attention of dozens of California companies. Earlier this month, the Governor and Governor’s Office of Economic Development (GOED) Commissioner J. Pat Costello made an economic development trip to the San Diego area to meet business leaders interested in learning more about South Dakota’s business and regulatory climate. The Governor and Costello were already in California for a Western Governors Association meeting and used that opportunity to add a day and a half onto the trip to recruit California companies. Three roundtable discussions were held Dec. 9 with more than 60 business leaders, entrepreneurs, venture capitalists and attorneys. The Governor said he was overwhelmed by the positive response from the San Diego area business community. “Many company officials we met are very interested in South Dakota,” Gov. Daugaard said. “Our stable regulatory environment, low taxes, and financial health really caught their attention.” South Dakota’s business climate is so enticing to some of those officials that GOED is already in discussions with more than one-half dozen California companies seriously considering South Dakota for new business opportunities. “Moving or expanding a company is difficult, and business leaders don’t take these decisions lightly,” said Costello. “So to see the immediate level of interest from these companies is very encouraging. We’re excited about the contacts we made and are hopeful we’ll see some very real returns soon.” Recent national rankings are adding to South Dakota’s economic development allure. The Small Business and Entrepreneurship Council named South Dakota as the No. 1 state in the nation for friendliness toward small businesses. The same study, the Small Business Survival Index, listed California as one of the nation’s least business-friendly states, ranking it No. 46. The Index is based on 44 government-imposed or government-related costs affecting small businesses and entrepreneurs. South Dakota’s economic development initiatives have targeted California for several years, and nearly nine percent of South Dakota’s business prospects came from California in 2010. -30-