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711 E. Wells Ave.
Pierre, SD57501
(605) 773-3301
FOR IMMEDIATE RELEASE: May 17, 2006
CONTACT: Sarah Van Berkum, 773-3301
PIERRE, S.D. – Sioux Falls and Rapid City made Forbes magazine’s top 10 list of the nation’s best small metropolitan cities for starting a business or a career. For the fourth straight year, Sioux Falls was ranked first on the list. Rapid City was ranked number six for the second time in a row. A small metropolitan city is defined as a city with a population of more than 50,000 and less than 230,000.
“This simply confirms what we in South Dakota already know. The word is getting out that our state not only has an unparalleled quality of life, but that there is tremendous opportunity for businesses and individuals to thrive,” Gov. Mike Rounds said.
The rankings are determined by a combination of factors including the cost of doing business, cost of living, crime rate, culture and leisure, educational attainment, income growth, job growth, net migration and highly rated colleges in the area. “These are many of the same factors we are using to gauge the success of the state’s 2010 Initiative,” Rounds said. “Both of these cities have taken proactive steps toward reaching each of the state’s 2010 Initiative goals.”
Both communities have significantly improved on the ranking list in the past few years. “Just six years ago, Sioux Falls was rated 22 on the ranking and in 2002 Rapid City was 20. This is a great reminder of the progress South Dakota communities are making and the impact the 2010 Initiative is having on the state’s economy and quality of life,” said Jafar Karim, director of the GOED.
“We’re gratified to be number one in the Forbes ranking,” said Dan Scott, president of the Sioux Falls Development Corporation. “The publication has great credibility and international readership. Even more important, however, is our consistency in scoring top ten placements in several business magazine rankings. Executives all over the country are getting the message about Sioux Falls and South Dakota.”
“We feel that the new Forbes magazine list ranking us in the top ten small municipalities in which to do business is a great distinction and gives us recognition nationally. We're proud of what we've achieved with regard to the private and public sectors working together to create an environment in which we can improve our economy and create new quality jobs for the people of Rapid City and in the Black Hills,“ said Robert DeMersseman, president of the Rapid City economic development partnership.
Sioux Falls first ranked number one on the ranking in 2003. In the subdivisions of the rankings, this year Sioux Falls came in third for the cost of doing business and fifth for highly rated colleges in the area. Rapid City ranked sixth overall, thirteenth for cost of doing business and among the top for culture and leisure.
Sioux Falls’ rankings since 2000:
2000 22
2001 9
2002 5
2003 1
2004 1
2005 1
2006 1
Rapid City rankings since 2002
2002 20
2003 8
2004 N/A
2005 6
2006 6
For more information about the ranking, please visit http://www.forbes.com/2006/05/03/06bestplaces_best-places-for-business_land.html.
To view other stories and press releases from the Governor’s Office of Economic Development, visit www.SDreadytowork.com.
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