20. South Dakota (Tie)

The Mount Rushmore State is a friendly place for business, but it is no hub for innovation.

Custer State Park is a state park and wildlife reserve in the Black Hills of southwestern South Dakota.
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Custer State Park is a state park and wildlife reserve in the Black Hills of southwestern South Dakota.
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 225 30 39 (Tie) C+
Infrastructure 177 38 37 C-
Cost of Doing Business 239 9 14 A+
Economy 148 27 22 (Tie) C
Quality of Life 194 16 14 (Tie) B-
Technology & Innovation 65 41 41 (Tie) F
Education 123 16 25 (Tie) B
Business Friendliness 144 2 2 A+
Access to Capital 11 45 34 F
Cost of Living 24 27 34 (Tie) C
Overall 1350 20 24 -

Economic Profile

Governor: Dennis Daugaard, Republican

Population: 869,666

GDP growth (Q4 2017): -0.5 percent

Unemployment rate (May 2018): 3.3 percent

Top corporate tax rate: 0 percent

Top individual income tax rate: 0 percent

Gasoline tax: 30 cents/gallon

Bond rating (Moody's/S&P): Aaa, stable/AAA, 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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

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