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Record Year for Capital Investments by New and Expanding S.D. Manufacturers

Friday, January 31, 2014

PIERRE, S.D. – New and expanding companies in South Dakota invested $483.3 million in South Dakota’s economy this past year, making it the second highest year on record since the Governor’s Office of Economic Development began conducting the Annual Survey of Manufacturers in 1955.

“Last year was a very good year in South Dakota,” said Gov. Dennis Daugaard. “We were named CNBC’s top state for business, the U.S. Congress Joint Economic Committee announced South Dakota was one of only 15 states to have recovered every single job lost during the recession and now we post the second highest capital investment on record. Our business leaders should be very proud of their accomplishments this past year.”

In 2013, 288 South Dakota manufacturers expanded, adding close to 2,900 jobs to our state’s workforce. South Dakota also gained eight new manufacturers which created another 400 jobs, and 40 percent of the total capital investment.

“These numbers are further proof of why business owners continue to see the value in South Dakota’s exceptional business climate,” said Pat Costello, Commissioner of the South Dakota Governor’s Office of Economic Development. “I am confident 2014 will be another successful year.”

GOED offers a wide array of financial programs that can benefit businesses of any size. From workforce training to expansion, the GOED can help finance company plans. A full detailed list of our programs can be found at www.sdreadytowork.com.

Media Contact

Members of the media requesting more information should contact Natalie Likness at Natalie.Likness@state.sd.us or (605) 773-3301.