South Dakota's Economy Continues to Thrive

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July 11, 2023

Contact: Ian Fury


South Dakota’s Economy Continues to Thrive


PIERRE, S.D. – South Dakota has seen unprecedented growth over the last several years. New data from the U.S. Bureau of Economic Analysis shows that South Dakota ranks in the top 5 for growth in both gross domestic product (GDP) and personal income.


“South Dakota’s economic success isn’t slowing down!” said Governor Noem. “When people have the Freedom to exercise personal responsibility, they will choose what is best for their families and for our state. I am proud of South Dakota for never settling for ‘good enough’ and for continuing to be a beacon of hope for the entire nation.”


South Dakota’s GDP grew by 11% since this time last year. The state had the second largest GDP growth in the nation, nearly double the national growth rate of 6.1%.


Our total personal income grew by 9.2% in the last year, putting us among the top five U.S. states. Again, South Dakota nearly doubled the national personal income growth rate of 5.1%.


These new numbers come when South Dakota’s unemployment is already the lowest in the American history at 1.9%. Governor Noem’s “Freedom Works Here” workforce recruitment campaign is helping connect businesses with folks who want to move to South Dakota to fill our open jobs. This continued economic success is yet another reason why so many families want to make South Dakota their new home.