Economic Review of South Dakota 2009

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South Dakota
Area (sq. km
Population, 2008 estimate
Population Rank:
Jewish Population in 2007:
Jewish Percentage of Total Population:
Military Contracts with Israel in 2006 Using Foreign Military
Financing:
Exports to Israel in 2008:
Percentage change from 2007:
Total exports to Israel since 1996:
77,121
804,194
46
295
Less than 0.1
$46,665
$5,609,438
-9.55
$33,355,687
24
Israel's rank as trade partner:
GSP, 2008 (millions of chained 2000 dollars)
Gross State Product Per Capita:
Unemployment rate:
Number of Fortune 1000 Companies
$30,310
$37,690
4.8%
1
AGRICULTURE
South Dakota's top five agricultural products are cattle and calves, corn for grain,
soybeans, wheat, oats and hogs. It was ranked nationally as 8th largest producer of
cattle & calves, 5th largest producer of sheep & lambs. Other crops include
sunflowers, sorghum, flaxseed, and barley are also grown. Meatpacking and food
processing are by far the major industries of the state. Major Ag companies include
Davisco Foods, John Morrell, Hot Stuff Foods, Cimpl Meats, and others.
In percentage terms, South Dakota's fastest-growing manufactured export categories
during the 2002-2006 period were beverage and tobacco products (up over 4,400
percent).
MANUFACTURING
South Dakota's main industries are agriculture, and mineral mining, wholesale and
retail trade. Total gross business sales were $47.6 billion in 2006.
Among manufactured products, South Dakota's leading export category is computers
and electronic products. This category accounted for $508 million, or over one-fourth
(35 percent) of South Dakota's total merchandise exports in 2008. South Dakota's
other top manufactured exports in 2008 were processed foods ($347 million),
machinery manufactures ($260 million), and beverage and tobacco products ($119
million).
Many major companies have their manufacturing facilities in South Dakota producing
medical equipment, respirators, pressure sensitive tapes, oil coolers, radiators, truck
trailer parts, custom steel fabrication, air & oil filters, etc. These companies include
3M, Adams, Thermal Systems, Alcoa, Angus, ATCO, Baldwin filters, and others.
FINANCE AND INSURANCE
Finance and insurance is the leading industry in South Dakota, accounting for over 17%
of the Gross State Product.
LIFE SCIENCES
South Dakota has a strong and emerging biotechnology life sciences industry.
This year the state will receive will receive nearly $42 million in stimulus funds as a
result of the American Recovery and Reinvestment Act of 2009.
The state is home to an increasing number of biotechnology and life sciences
companies. South Dakota’s life sciences industry benefits from organizations and
state assistance. South Dakota’s academic institutions also benefit the states life
sciences industry, this includes South Dakota State University; the states largest landgrant institution.
TRANSPORTATION
South Dakotas location provides the state with access of two major Interstate
highways: I-90, running east to west, with the I-190 spur into Rapid City, and I-29,
running north to south, with the I-229 loop around Sioux Falls. There are five major
airports and nine railroad companies provide freight services to the state.
South Dakotas major cities provide limited public transportation; intercity travel is
provided by Greyhound Lines, and Jefferson Lines.
http://www.southdakotalifescience.com/career/dest_indust.htm
http://www.city-data.com/states/South-Dakota-Economic-policy.html
http://minneapolisfed.org/pubs/fedgaz/07-05/sdexports.cfm
www.sdreadytowork.com
http://www.ita.doc.gov/td/industry/OTEA/state_reports/s-dakota.html
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