Governor Daugaard has a column in today’s Mitchell Daily Republic about South Dakota’s ranking as the top state in America for business:
Creating jobs is one of my top priorities as your governor. That means that I am focused on making South Dakota a great place for businesses to grow and expand. I’m proud to say that our efforts are paying off. Earlier this month, CNBC named South Dakota as “The Top State in America for Business.”
The ranking isn’t our first recognition and it won’t be our last. In April, the U.S. Chamber of Commerce named South Dakota number one for its business climate. The Small Business and Entrepreneurship Council recently ranked South Dakota number one in business policies, entrepreneurial friendliness and small business survival. Our low debt, well-funded pension, and lack of expensive state-funded programs led Barron’s to name South Dakota as “The Best Run State in America.”
South Dakota has a long history of stability and balanced budgets — for real. We don’t balance our budget with accounting gimmicks, either. We don’t push one year’s expense into the next. We don’t use one-time windfalls to fund ongoing expenses. We never borrow money to fund state operations. And we don’t raise taxes. In turn, businesses have found that our stability and history of fiscal responsibility have created an ideal ground for business success.
In South Dakota, we have no corporate income tax, no personal income tax, no business inventory tax, no personal property tax and no inheritance tax. This puts more money in the pockets of our citizens and businesses, creating a more favorable environment for growth.
Read the full story here.