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Gov. Noem: South Dakota "Open for Business"


Wednesday, January 15, 2020   

PIERRE, S.D. -- In her second State of the State address, Governor Kristi Noem stressed that South Dakota is "open for business," citing tax laws that encourage companies to move to the state or expand their operations.

Noem said she's committed to what she calls the "four pillars of protection" for South Dakotans: an open and honest government, limited government regulations, an absence of government intrusion, and low taxes.

"We don't have a corporate income tax, and there's also no business inventory tax. For our hard-working residents, we're one of the few remaining states with no personal income tax, and I'm committed to keeping it that way," Noem said.

For a second year, the governor also said a priority must be expansion of broadband into rural areas. After the address, Senate Minority Leader Troy Heinert said the state needs to also focus on providing adequate funding for education in order to attract new businesses.

According to Noem, tourism is a bright spot in the state's economy, employing almost 9% of the state's workers. In 2019, it enjoyed record growth for the ninth straight year. Tourism includes attracting pheasant hunters, with Noem emphasizing hunting, trapping and shooting as fundamental traditions.

But agriculture is South Dakota's largest industry, and the governor is in Washington, D.C., today to witness the signing of a revised trade agreement between the U.S. and China.

"We need to find ways to strengthen and to broaden our ag industry. There is no question that this last year was a hard year for our farmers. Our goal is to develop a lasting infrastructure devoted to agriculture for generations to come," she said.

Noem vetoed a bill to legalize the production of industrialized hemp last year, but said she would not veto a second hemp bill if it tightly regulates the crop.

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