South Dakota's Economy:
  • Dominated by wholesale and retail trade, and agricultures, South Dakota has a stable economy.
  • Growing from $10.5 billion in 1984 to 47.6 billion in 2006 is the total gross business sales.
  • Respectively, in 2006 retail and wholesale trade represented 40.3% and 22.7%.
Agriculture:
  • The farm economy produced cash receipts of $57 in 2005.
  • Livestock generated cash reciepts of $2.6 billion or 45.9%.
  • Crops generated total cash reciepts of $2.3 billion or 39.9%.
  • $806.7 million was the payments to farms for field crops and deairy products under federal farm subsidy programs.
  • This amount has represented 14.2% of total cash reciepts in 2005 and has grown from $90.7 million in 1981.
  • The state doesn't offer any farm subsidy programs.
Industry:
  • Accounting for over 17% of the Gross State Product, finance and insurance is the leading industry in South Dakota.
  • Hunting, fishing, forestry, agriculture, real estate, retail trade, health care and social assistance, and manufacturing are other top industries.
  • Over 50% of South Dakota's Gross State Product are accounted for these industries combined.
  • Sectors that employ most workers are government, educational and health services, and retail trade.
  • Currently, no single sector employs more than 20% of all nonfarm workers.
  • Employers in South Dakota at Sioux Valley Hospital in Sioux Falls are sitting at the top of the list of largest private employers.
  • More than 9,700 employees in the Sioux Falls area are accounted for by Sioux Valley and Avera McKennan Hospital.
  • Attractive business climate is also considered in South Dakota.
  • South Dakota offers the best economic enviroment for entrepreneurship in the nation according to the Small Business Survival Foundation.
  • The state has no income tax, personal or corporate, and boasts the second lowest crime rate in the nation.
  • Expected to remain lower in the future is the state's unemployment rate that has been significantly lower that the unemployment rate of the United States.
Tourism:
  • Mt. Rushmore is a famous historical site.
  • It was made by Doane Robinson and Gutzon Borglum.
  • The heads of George Washington, Thomas Jefferson, Theodore Roosevelt, and Abraham Lincoln were carved in the mountain.
  • Borglum died in the month of March in 1941 so his son Lincoln took over for the next seven months until funding ran out.
  • Mt. Rushmore has stayed the same since then.
Mining:
  • The most important mined products in South Dakota are granite, limestone, clays, crushed stone, sand, gravel, and petroleum.
  • Gypsum and natural gas are also products that are mined.
  • Before Homestake Mine in Lead was closed in 2001, South Dakota was the leading producer of gold.
  • Gold mining still exists in South Dakota but it is on a small scale.
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