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| FOR IMMEDIATE RELEASE: Thursday, Nov. 18, 2010 CONTACT: Mary Lehecka Nelson, Marketing and PR Manager South Dakota’s Gross Domestic Product Bucks National Trend PIERRE, S.D. - South Dakota was one of just six states to show an increase of more than one percent in its Gross Domestic Product (GDP), according to the 2009 GDP state-by-state report released today by the U.S. Department of Commerce. GDP measures the state’s economic output. “For the last eight years, one of our goals was to create wealth and create jobs,” Gov. Mike Rounds said. “This latest increase in Gross Domestic Product is a key indicator that South Dakota is succeeding in that mission. An increase in GDP is a reflection that our strategies have been successful for the benefit of our workforce, our businesses, and our communities.” South Dakota had the 6th highest overall GDP increase from 2008 to 2009, with a 1.4 percent increase and total GDP of $38.3 billion. In the same period, the nation experienced a 1.3 percent decrease in GDP. South Dakota also fared better than the Great Plains region as a whole, which posted a 0.5 percent GDP decline. Major industry contributors to the 2008-2009 growth in South Dakota were healthcare, finance and insurance. South Dakota’s GDP has increased by $14 billion since 2001. Goal 2 of Gov. Rounds’ 2010 Initiative, which was launched in 2003, was a $10 billion increase South Dakota’s GDP by 2010; that goal was met in 2007. Gross Domestic Product state statistics are released by the U.S. Department of Commerce’s Bureau of Economic Analysis as a measure of comprehensive economic activity. For more information about national and regional statistics, visit http://www.bea.gov/newsreleases/regional/gdp_state/gsp_newsrelease.htm South Dakota Gross State Product: (in current $) 2009: $38,308 million + 1.4 percent 2008: $37,789 million + 6.8 percent 2007: $35,379 million + 9.0 percent 2006: $32,451 million + 5.7 percent 2005: $30,712 million + 4.0 percent 2004: $29,522 million + 7.7 percent 2003: $27,418 million + 3.8 percent 2002: $26,416 million + 10.5 percent 2001: $23,910 million -30-
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