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With just over 781,900 people, South Dakota ranks 46th in population among the United States. The
largest cities in the Mount Rushmore State are Sioux
Falls, Rapid City, Aberdeen, Watertown,
Brookings, Mitchell, capital city Pierre,
Yankton, Huron, and Vermillion.
Agriculture, historically of great importance, remains vital to South Dakota’s economy today. Chief
agricultural products are livestock, especially cattle and calves, hogs, and sheep. Milk is a key
product, and the state is also a major producer of wool. Chickens and eggs, geese, and turkeys are
also produced in the state. Important crops in the Mount Rushmore state include corn for grain,
soybeans, wheat, flaxseed, hay, oats, rye, sorghum, barley, and sunflower seeds.
Manufacturing is a key industry in South Dakota. The leading manufactured products are computers
and related components. As a result of its agricultural products, meatpacking and food processing are
of great importance. Other important products include agricultural and construction equipment,
transportation equipment, lumber and wood products, and fabricated metal products.
South Dakota boasts tremendous mineral wealth. The state is one of the top producers of gold.
Other valuable mineral commodities include silver, uranium, beryllium, bentonite, petroleum, natural
gas, gypsum, granite, clay, limestone, feldspar, crushed stone, sand, and gravel.
Financial industries contribute greatly to the state’s economy. Additional industries include
services, wholesale and retail trade, tourism, and gambling.
With regards to South Dakota’s cost of living, in 2005, the Mount Rushmore State had a median
household income of $40,310 and a per capita personal income (PCPI) of $32,523. The average annual
growth rate of PCPI between 1995 and 2005 was 5.2 percent, compared to the average annual rate of 4.1
percent for the nation. South Dakota has a home ownership rate of 68.4 percent. The unemployment
rate is 3.2 percent. South Dakota levies a sales tax of 4 percent, with prescription drugs exempt,
and has no personal income tax. South Dakota’s overall cost of living ranks below that of the
national average.
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