11. South Dakota

The Mount Rushmore State offers monumentally-friendly business regulations, but costs have risen along with the state’s profile. The state ranks at the bottom for innovation.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 336 6 1
Workforce 204 6 (Tie) 11
Quality of Life 217 10 7
Infrastructure & Transportation 180 31 (Tie) 19
Economy 241 20 6
Education 69 30 (Tie) 30
Technology & Innovation 35 50 48
Business Friendliness 177 2 2
Cost of Living 35 16 26
Access to Capital 13 26 39
Overall 1507 11 1

Economic Profile

Governor: Dennis Daugaard

Population: 844.877

GDP growth: 3.1 percent

Unemployment rate (May 2014): 3.8 percent

Top corporate tax rate: 0 percent

Top individual income tax rate: 0 percent

Gasoline tax: 40 cents/gallon

Bond rating/outlook: No Governmental Obligations/stable

Major private employer: Avera

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, South Dakota FY 2013 CAFR

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