Key Facts
- Per Capita Real GDP
- $35,596 Rank: 25/50 (2007)
- Population
- 804,194 Rank: 46/50 (2008)
- Per Capita Personal Income
- $33,929 Rank: 26/50 (2006)
- Unemployment Rate
- 2.60% Rank: 1/50 (2008)
- Business Tax Climate Index
- Rank: 2/50 (2008)
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South Dakota: Introduction
South Dakota is located in the north-central United States. Ranches and farms cover over ninety percent of the state, making farming a central way of life for residents. The state was initially acquired through the Louisiana Purchase from France in 1803, as part of what was known as the Louisiana Territory. In the late 1800s, discovery of gold in the southwestern part of the state and growing railroad construction sparked an abundant influx of settlers known as “The Great Dakota Boom.” Following this boom, movement to gain statehood began, reaching fruition in 1889 when South and North Dakota officially entered the Union together.
South Dakota’s economy has consistently centered on agriculture because of its fertile soils and abundant grazing lands. Railroad construction and gold mining during the 1870s gold rush sparked important growth for South Dakota’s economy. Gambling and tourism have recently increased in importance. Among the more popular destinations are the Badlands and the Black Hills, which features Mount Rushmore, an important symbol of American pride. South Dakota is also recognized as one of the friendliest states for businesses. South Dakota doesn't tax personal income, capital gains, corporate income or corporate capital gains. In addition, there is little crime, and energy costs are relatively low.
