Top States for Business

22. South Dakota

Ingo Dörenberg | Istock Editorial | Getty Images

South Dakota Score and Ranking

CATEGORY  2022 SCORE  2022 RANK 2021 RANK  2022 GRADE 
WORKFORCE1774347D
INFRASTRUCTURE1713648D
COST OF DOING BUSINESS2231112A
ECONOMY2081217B-
LIFE, HEALTH & INCLUSION1632715C-
TECHNOLOGY & INNOVATION953646D
BUSINESS FRIENDLINESS14081B+
EDUCATION733918D+
ACCESS TO CAPITAL361034B
COST OF LIVING222928C
OVERALL13082229

Economic Profile

Governor: Kristi L. Noem, Republican

Population: 895,376

GDP growth (Q1 2022): -3.5%

Unemployment rate (May 2022): 2.3%

Top corporate tax rate: None

Top individual income tax rate: None

Gasoline tax: 30 cents/gallon

Bond rating (Moody's/S&P): Aaa, stable/AAA, stable

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