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South Dakota's Key Industries

Bioscience, Financial Services and Value-Added Ag Make Great Economic Impact

You may have already heard that South Dakota is a great place for business. In fact, we recently ranked No. 2 in the Tax Foundation’s State Business Tax Climate Index, and 3rd in the Gallup Well-Being Index. We take pride in these rankings since we want our businesses to be successful.

Because of this, we have spent a great deal of time researching industries that make a good fit for our state.

Bioscience and Medical Device Manufacturing:
Entrepreneurs, small businesses and large corporations in our state are conducting cutting-edge research. Our bioscience infrastructure includes cGMP facilities, research parks, world-class healthcare systems, and our small size lends opportunities for collaboration that you don’t find in every state. South Dakota also has a skilled and ready workforce, with a high concentration of graduates in bio-related programs.

Financial Services:
The financial services industry is South Dakota’s No. 1 industry, in terms of Gross Domestic Product. It accounts for 15 percent of our economy. We credit this to our longstanding regulatory climate and our leader’s efforts to make South Dakota’s rules and regulations business friendly. Companies like Citibank, Wells Fargo, & Co., TCF Bank, Sammons Financial and Meta Payment Systems all have a presence in South Dakota.

Value-Added Agriculture:
Agriculture has a long-standing and successful history in South Dakota, and has a $20.7 billion economic impact. With 98 percent of our farms being family-owned, producers and raw product are easily accessible, and adding value to commodities already on-site benefits our citizens and our businesses.

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Annual Report

The 2017 GOED Annual Report is now available online! 


We'll Be in Your Area

If you are interested in learning more about South Dakota, we’d love to meet with you while we are in your area! GOED business development representatives will be in the following cities in 2017:
  • Madison, Wisc., October 3-7
  • San Diego, Calif., June 19-22
  • Toronto, Canada,  May 2-4
  • Tulare, Calif., May 2-4

If you would like to schedule a meeting, please contact Steve Watson via –email or by calling 605-367-4518.

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This is a publication of the Governor's Office of Economic Development. Commissioner Scott Stern; Deputy Commissioner-Aaron Scheibe; Marketing and Public Relations Director-Mary Lehecka Nelson; Editor and Designer-Jennifer Lambley. © Copyright 2017