19. South Dakota

The Mount Rushmore State has carved a solid reputation for business friendliness, but technology and innovation are an uphill climb.

Top States South Dakota
Source: George Kavallines
2016 Rank
2015 Rank
Workforce 199 32 35
Cost of Doing Business 254 4 5
Infrastructure 182 28 19 (Tie)
Economy 156 33 8 (Tie)
Quality of Life 213 14 17 (Tie)
Technology & Innovation 70 44 (Tie) 44
Education 110 21 (Tie) 23
Business Friendliness 131 2 2
Cost of Living 47 20 35
Access to Capital 19 32 27
Overall 1381 19 11

Economic Profile

Governor: Dennis Daugaard, Republican

Population: 858,469

GDP growth: 1.8 percent

Unemployment rate (May 2016): 2.5 percent

Top corporate tax rate: 0 percent

Top individual income tax rate: 0 percent

Gasoline tax: 48.40 cents/gallon

Bond rating/outlook: No general obligation debt, stable

Major private employers: Avera Health, Black Hills Corporation

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, S&P Global Market Intelligence

Latest Special Reports

  • A logo sits on a sign at the World Economic Forum in Davos, Switzerland, on Thursday, Jan. 23, 2014.

    Coverage of the World Economic Forum’s annual meeting in Davos, Switzerland.

  • A look at 50 private companies set to reshape the business landscape.

  • Innovative female entrepreneur examining prototype

    In an era of rapid technological advances and demographic change, how do legacy companies adapt, innovate and evolve? CNBC Evolve features iconic global companies and executives who are embracing change and transforming for the future.