We at the Spearfish Economic Development Corporation would like to welcome you to our web site. If you are a business leader thinking of expanding or relocating, you've come to the right place. Spearfish, SD offers many attractive advantages for businesses of all size. By visiting our site, you'll learn more about our area's workforce, premier business climate, superior lifestyle and most importantly how you as a business leader can increase your company's bottom line by locating in Spearfish.
Top 10 Reasons Why Others are Choosing Spearfish
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;
- It's All About Money
Low 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 Quality of Life
Rated by National Geographic's Adventure Magazine (sept. 2007) 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
As reported by the Milkin Institute (2007), South Dakota is ranked #1 as the lowest cost state to do business. Also rank #1 "Enviroment for Entrepreneurs" by Small Business Survival Foundation (2006).
- 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 business enjoy some of the lowest cost worker's comp rates and unemployment insurance costs in the nation. Expansion Management Magazine recently rated our area as 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.