Business

Business
2:51 pm
Thu October 31, 2013

State Of Our Utilities/Infrastructure

Gary Hanson

As part of South Dakota Public Broadcasting’s series exploring the state of South Dakota’s infrastructure, Gary Hanson discusses the state of the areas falling under the purview of the PUC, including electricity, natural gas and telecommunications.  Hanson was elected to the commission in 2003 and re-elected in November 2008. He served as the commission's chairman in 2005, 2008 and 2011.  He represents South Dakota on the National Association of Regulatory Utility Commissioners' Committee on Electricity.  

  

  

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Business
3:09 pm
Tue October 29, 2013

Dropping Fuel Prices

Average retail gasoline prices in South Dakota have fallen 10.1 cents per gallon in the last week, averaging $3.25 per gallon yesterday, according to GasBuddy's daily survey of 628 gas outlets in the state.  The national average fell by 5.9 cents to an average of $3.30.  Gregg Laskoski, Senior Petroleum Analyst for GasBuddy.com, explained that last week saw new downward momentum in crude prices for the first time since early July.

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Business - Native - Work
1:05 pm
Tue October 29, 2013

Tribal Members Are "Workin' With Tradition"

The South Dakota Indian Business Alliance enhances Indian business development by leveraging partnerships and resources of diverse institutions and organizations.
Credit South Dakota Indian Business Alliance

More than 20 tribal members from reservations across South Dakota have been certified as instructors in the “Workin‘ with Tradition” training program. The goal of the program is to help individuals in rural Native American communities prepare for successful employment.

South Dakota Indian Business Alliance spokesperson Stacey LaCompte says dealing with the mainstream mindset of employment has been difficult for most Native Americans.

LaCompte says the reservation system set up by the federal government discouraged economic self-sufficiency for several generations.

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Business
1:42 pm
Mon October 28, 2013

NIH Conference In Sioux Falls

Health, science and business leaders and experts are in Sioux Falls this week for a national conference exploring new market opportunities in biomedical and behavioral sciences. The 15th annual National Institutes of Health Small Business Innovation Research and Small Business Technical Transfer Conference runs today through Wednesday at the Sioux Falls Convention Center, with speakers and attendees from across the country. This year’s conference theme is “How to Be Competitive in a World of Change.” Joining the program from the conference are Dr.

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Business
3:00 pm
Tue October 22, 2013

Economic Impact Of Early Blizzard On SD

Silvia Christen, executive director of the South Dakota Stockgrowers Association, says an early October blizzard that killed tens of thousands of cattle in western South Dakota will have a staggering economic impact. Christen told the Rapid City Council that the direct economic impact of the cattle loses could be half a billion dollars, and the indirect impact could be $1.7 billion. A relief fund set up in the wake of the October 4th blizzard that dumped up to 4 feet of snow in the region has about $300,000 in donations so far. This afternoon, U.S. Senator Tim Johnson, U.S.

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Business
9:41 am
Wed October 9, 2013

Ranchers Lose Livestock From Winter Storm

Silvia Christen

A record-breaking storm that dumped 4 feet of snow in parts of western South Dakota left ranchers dealing with heavy losses, in some cases perhaps up to half their herds. Silvia Christen, executive director of the South Dakota Stockgrowers Association, says early estimates suggest western south Dakota lost at least 5 percent of their cattle. Some individual ranchers reported losses of 20 percent to 50 percent of their livestock.

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Business
12:33 pm
Mon October 7, 2013

Power Deal Saves SF Events Center Millions

Sioux Falls Mayor Mike Huether and Heartland Consumers Power District CEO Russell Olson sign a power agreement extension.
Credit Kealey Bultena / SDPB

Sioux Falls leaders and a regional power utility have struck a deal that saves the city millions in the first years of operating the new events center.

The newest attraction under construction in Sioux Falls is sure to have significant power needs. City leaders estimate the events center going up on the north side of town is likely to use six times the peak electricity of the existing arena.

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Business
3:18 pm
Wed October 2, 2013

Federal Reserve Bank Operations In The 9th District

Ron Feldman

The Vucurevich School of Business is hosting a presentation by Ron Feldman, Executive Vice President from the Minneapolis Federal Reserve Bank, on the operations of the Federal Reserve Bank in the 9th District Thursday at 7 p.m. Feldman is responsible for the Minneapolis Fed's Supervision, Regulation and Credit division. The presentation is free and open to the public in the Salsbury Science Center, Z-Hall.

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Business
2:19 pm
Tue October 1, 2013

Harvest Season Reports

State Climatologist Dennis Todey

After a wet spring that caused delayed planting, the fall harvest season is getting underway. Early reports show that corn is abnormally being harvested before soybeans because of the lag in soybean maturity from the late planting. According to the latest U.S. Drought Monitor, parts of South Dakota are abnormally dry with some severe drought in areas of southwestern and northeastern South Dakota and state climatologist Dennis Todey discussed the reports.

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Business
11:51 am
Tue September 24, 2013

Shareholders Approve Smithfield Sale

Shareholders of Smithfield Foods have approved a deal that sells the company to a Chinese firm. Smithfield owns John Morrell processing plant in Sioux Falls. The multi-billion dollar sale could be final by the end of the year.

South Dakota’s governor and other representatives traveled to China on a trade mission in April. The next month, the parent company of a Sioux Falls-based meat processing plant announced its plan to sell Smithfield Foods to a Chinese company called Shuanghui.

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Business
3:17 am
Tue September 17, 2013

SD Housing Trends Toward Sales

daInkotadakota South Dakota, the housing crisis never lead to a real crash. The market saw a few wobbles, but home sales in the state stayed pretty much on track. Five years after the initial downturn, an annual fall home showcase in Sioux Falls is attracting crowds. Hundreds are filing through those new houses, but the real estate event is only part of greater growth across the state.

Homebuilders in Sioux Falls are opening their doors, flipping on light switches, and inviting people inside brand new homes.

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Business
2:00 pm
Tue August 27, 2013

South Dakota Farmers Rank High

South Dakota Agriculture Secretary Lucas Lentsch.

South Dakota farmers rank in the top 10 in the nation in the production of more than 15 crops.  A recent report from the federal Agriculture Department shows that South Dakota is tops in the production of bison and second in the production of honey, flaxseed, proso millet and sunflowers.  The state is in the top 10 in many other major crops including wheat, corn, soybeans and oats.  South Dakota Agriculture Secretary Lucas Lentsch says the latest statistics show that the state remains an agricultural powerhouse even without a large population.

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Business
1:45 pm
Tue August 20, 2013

Dakotafest Underway In Mitchell

Dakotafest connects industry leading manufacturers/providers with ag producers. Because agriculture is such a significant part of South Dakota's economy, the state's political leaders often focus on farming. This continues to be true this summer with congressional debate over a new Farm Bill. Of course, no one knows better about rural operations than the farmers themselves. SDPB's Kealey Bultena speaks from Dakotafest in Mitchell and what farmers have been saying about the farming season.

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Business
5:02 pm
Tue August 13, 2013

Eagle Creek Software Services Breaks Ground In Vermillion

A high tech company is bringing 200 jobs to Vermillion. Eagle Creek Software Services along with the Vermillion Area Chamber of Commerce formally broke ground on a 32,000 square foot project center today.

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Business
2:29 pm
Mon August 5, 2013

Sioux Falls Mayor Responds To Growing Boom Town Recognition

Credit sd.gov

A recent series of articles in the National Journal asked the question, "Is Sioux Falls the next boom town?" The series is part of recent, national recognition for the city's strong, rapid growth. Mayor Mike Huether is working to support that recognition and debunk the notion that Sioux Falls is just another backwater town. And the mayor says Sioux Falls has the numbers to prove it. During the recession, Sioux Falls was able to stockpile millions in reserves. In fact, CNBC calls South Dakota America's top state for business thanks to the low cost of operating a company.

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Business - Native - Loans
1:49 pm
Mon August 5, 2013

Native American Entrepreneurs Receive Loans

The South Dakota Indian Business Alliance provides financial opportunities for Native American entrepreneurs throughout the state.
Credit Courtesy South Dakota Indian Business Alliance

The South Dakota Indian Business Alliance has concluded its first year of operating the Native Entrepreneur Investment Fund. The fund distributed 11 loans totaling $100,000 to Native entrepreneurs throughout the state.

The Native Entrepreneur Investment Fund was designed to expand access to fair lending services to the nine South Dakota reservation communities and beyond. 

Nearly thirty percent of entrepreneurs served through the fund are located in or near urban areas, such as Rapid City, where half the Native American population lives below the poverty level.

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Business - Native - Tanka
1:42 pm
Mon August 5, 2013

Tanka Bar Makes Top 10 List

Tanka Bar has been praised for its health benefits, short ingredient list and minimal processing.
Credit Courtesy Native American Natural Foods

The Tanka Bar has been a hit since it was first introduced by Native American Natural Foods, of Kyle, at the Black Hills Pow Wow in 2006. The Lakota natural food company that makes the Tanka Bar is now being nationally recognized for having one of the top ten wholesome foods just for men.

A brief glance at the Native American Natural Foods web site shows glowing reports from Seattle to Afghanistan for the energy bar made from cranberries and prairie-raised buffalo.   

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Business
10:03 am
Mon August 5, 2013

Sioux Falls Copes With Rapid Growth

Credit City of Sioux Falls

You’ve heard about the boom towns sprouting up in North Dakota, but a prairie city to the south of the oil fields is drawing thousands of people without the promise of black gold. Sioux Falls thrived through the recession, even as other major metro areas across the county crumbled financially. Now the city is getting national recognition for its strong, rapid growth.

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Business
1:38 pm
Wed July 31, 2013

Tourism In South Dakota Report

South Dakota Tourism Secretary Jim Hagen

In May, state tourism officials said indications were that South Dakota would have a good summer season. There was a strong demand for vacation guides and e-newsletters and traffic on department-run websites was on the increase. South Dakota Tourism Secretary Jim Hagen talks about how the summer tourism season has gone so far. He'll also discuss the efforts to bring Chinese visitors to South Dakota and the Midwest tour of the Mount Rushmore mascots.

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Business
1:21 pm
Tue July 23, 2013

Northern Beef Packers Filing For Bankruptcy

The Northern Beef Packers in Aberdeen filed for Chapter 11 bankruptcy protection last Friday. Aberdeen Mayor Mike Levsen says that Northern Beef Packers' current situation is not a death sentence. AJ Munger with Northern Beef Packers says the details are still being worked out and more information will come out by the end of the day or first thing tomorrow morning.

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Business
3:05 pm
Tue July 16, 2013

South Dakota's 2013 Fiscal Year Budget

Jason Dilges, South Dakota Chief Financial Officer and Commissioner of Finance and Management

South Dakota state government closed the 2013 budget year on June 30 with a surplus, Governor Dennis Daugaard announced Monday. The state general fund budget for Fiscal Year 2013 ended with higher revenues and lower expenditures than budgeted. Revenue growth for the completed 2013 fiscal year exceeded estimates adopted by the legislature last March by $13.6 million. In addition, state agencies also demonstrated fiscal restraint, spending $10.6 million less than appropriated. In total, the state's financial picture improved by $24.2 million from the March fiscal year 2013 estimates.

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Business
12:31 am
Fri July 12, 2013

City, Citizens Clash Over Proposed Walmart

People in Sioux Falls received mailers detailing community benefits of a proposed Walmart at 85th St. & Minnesota Ave.
Credit Kealey Bultena / SDPB

Development in the state’s largest city is sprawling, but people who live in a southeast Sioux Falls neighborhood don’t like the direction of expansion. A citizen group named Save Our Neighborhood is fighting approval of a new Walmart, and members accuse the city of Sioux Falls of not following state law.

The legal battle is brewing over the location of a new Walmart in Sioux Falls. A citizen group filed a lawsuit against the city. Dana Palmer says Save Our Neighborhood didn’t want to have to go that far but believes Sioux Falls broke the law.

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Business
1:34 pm
Thu July 11, 2013

Creighton University Professor Comments On CNBC Study

Ernie Goss, Creighton University Economics Professor

The financial cable network CNBC has rated South Dakota as the best state for business. The network's website says South Dakota's business climate earned the highest score ever given to a state since the survey was begun. The state's business climate scored more than 16 hundred points out of a possible 25 hundred. Creighton University economics professor Ernie Goss provides some outside perspective of the CNBC survey. Goss is currently the MacAllister Chair and Professor of Economics at Creighton University in Omaha, Nebraska and Director of the Goss Institute in Denver, Colorado.

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Business
1:28 pm
Thu July 11, 2013

Costello Discusses CNBC Study

Pat Costello, South Dakota Commissioner of Economic Development

An annual business climate study by the financial cable network CNBC shows South Dakota has moved from the seventh-best state in which to do business to the number one spot in the country. The network cited business development and tax friendliness and productive workers as reasons for the top ranking. Pat Costello, South Dakota Commissioner of Economic Development, comments on South Dakota's ranking as the number one state for business.

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Business - Brit - Pub
4:20 pm
Tue July 2, 2013

Brit For A Day In Rapid City

British hunting scene adorns wall of The Wobbly Bobby
Credit Photo by Jim Kent

Today is July second. It’s the anniversary of the day the Declaration of Independence was actually voted on and passed by the Continental Congress in 1776. But whether you celebrate our national independence on July second or July fourth, it’s the time of year when Americans reflect on their nation’s past. Today we’re reminded that America’s roots actually go beyond the Revolutionary War to our British heritage – something everyone can get a small “taste” of – literally – in Rapid City.

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Business
1:49 pm
Tue July 2, 2013

Spearfish National Fish Hatchery

Trout at Spearfish National Fish Hatchery

Established in 1896, D.C. Booth Historic National Fish Hatchery, formerly Spearfish National Fish Hatchery, is one of the oldest operating hatcheries in the country. Dedicated to fish culture and resource management, the hatchery was constructed to propagate, stock, and establish trout populations in the Black Hills of South Dakota and Wyoming.

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Business
1:41 pm
Tue July 2, 2013

New Research And Innovation Center In South Dakota

A new South Dakota Research & Innovation Center was recently created to link university-based research and National Science Foundation research priorities. In addition, two new Governor Research Centers, also supported by state funding, will launch this year on the campus of South Dakota School of Mines and Technology.

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Business
2:07 pm
Mon June 24, 2013

South Dakota Report On Child Welfare

South Dakota ranks 18th in the nation in the annual Kids Count Survey by the Annie E. Casey Foundation. The report examines child welfare in four areas: economic well-being, education, health and family/community. Of the sixteen factors examined in the report, South Dakota improved in the economic and health areas, but conditions got worse in education and family/community. The state ranks 48th in deaths of children younger than 21.

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Business
12:26 pm
Thu June 20, 2013

Federal Grants Fund SD Rural Development

Credit Kealey Bultena / SDPB

Nearly $300,000 in federal grants is on its way to South Dakota. The money is dedicated to organizations focused on rural development.

The Value Added Agriculture Development Center gets $99,950 to establish a small business in Shannon County. Another $99,000 goes to Four Bands Community Fund in Eagle Butte to capitalize on tourism. The Lakota Fund in Kyle receives $99,993 in federal grants for training for Native businesses.

The Acting Under Secretary of the USDA says South Dakota organizations won the grants for a reason.

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Business
1:42 pm
Thu June 13, 2013

National Homeownership Month

Elsie Meeks is the USDA Rural Development State Director and Lori Moen is the Grow SD Chief Operating Officer. Throughout June, USDA is marking National Homeownership Month by promoting the agency's efforts to provide affordable housing in small towns and rural communities, including tribal lands. In fiscal year 2012, USDA's Rural Development Department made 105 home loans to low-income borrowers in South Dakota and also guaranteed the mortgages on nearly 1300 homes sold or refinanced across the state.

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