Spearfish is widely known as one of the fastest growing communities in the Midwest. Spearfish has transformed itself from what once was a small agrarian community, to what is now a “micropolitan” rich area, fueled by a diverse mix of business & industry. Why has Spearfish become such a hotbed of activity? Let us provide you some reasons:

• South Dakota Best Place to do Business CNBC names South Dakota 2013 best state to do business.
• It’s All About Money Lower cost of living translates to lower costs of doing business. Regional Financial Associates (RFA) Inc. ranked South Dakota as the LOWEST cost state to do business.
• It’s all about FUN  Rated by National Geographic’s Adventure Magazine (Sept. 2008) in the “Top 50 Best Places” to Live and Play and only one of 8 cities selected as a “Hot Spot” in America, Spearfish continues to be a destination for visitors and new residents alike.
• Put “NO” in Taxes Imagine… a tax structure built around the word “NO”; NO state personal income tax, NO corporate income tax, NO personal property tax, and NO business inventory tax. You see, in Spearfish, SD profit is not a dirty word — it’s a reward and why not keep it?
• Entrepreneurial Friendliness #1 Business Tax Climate…The 2011 State Business Tax Climate Index, produced by the nonpartisan Washington, D.C.,-based Tax Foundation, gauges how all 50 states’ tax systems compare. In 2011 South Dakota moved from 2nd to 1st.
• Award Winning Education With a university producing highly-qualified graduates and an award-winning public education system, we continue to meet labor and training requirements of new and expanding businesses. Ranked #1 in the United States with the most Internet-Connected Students.
• Sweetening the Pot Our pro-business local, county and state governments offer several direct financial assistance programs and training incentives.
• Business Infrastructure Spearfish owns and manages a fully developed professional business/industrial park served by a state-of -the art fiber optic telecommunications network.
• Low Employment Costs Spearfish businesses enjoy some of the lowest cost worker’s comp rates and unemployment insurance costs in the nation. Expansion Management Magazine recently rated our area has having the lowest unemployment insurance rates in the nation.
• Low Union Activity Less than 1% of our labor force is involved in a union.
• Labor, Labor, Labor Although most areas boost about their available labor supply, few can prove it. As a regional trade center with the state’s 3rd largest university, Spearfish businesses are supported by one of the region’s largest labor markets.

Economic Development

Working with state and local partners, Spearfish Economic Development Corporation has the capacity to provide custom incentive proposals to qualified businesses seeking to expand or relocate. Economic development programs include:  low interest finance programs, workforce development grants, property tax abatement’s and reduced cost, shovel-ready sites located in the Spearfish Business and Industry Park.

To learn more about our area’s premier business climate, superior lifestyle and, more importantly, how your business can increase its bottom line, please call SEDC at 605-642-3832.