South Dakota received some additional affirmation recently of its fiscal policies by being rated the best-run state in the nation by Barron’s. The measure was based on the amount of debt and unfunded pension liabilities in relation to the state’s GDP. The state also has no income tax and has generated a surplus in the last fiscal year. As I am originally from Illinois (#49), that is a welcome change of pace.
To those that work in or with businesses in South Dakota, this will not come as a surprise. In my experience, South Dakota goes out of its way to welcome and grow businesses within the state – providing jobs and cash flow. An important element of this is including both current and former business leaders in the government to provide a business perspective. There will always be politics – in both government and business – however the business perspective provides a healthy balance in government to keep the focus on providing services without bankrupting the state.
Congratulations to South Dakota – keep it up!