SIOUX FALLS, S.D. (KELO.com) — South Dakota’s economy ranking only 40th among the 50 states is a headline that doesn’t tell the full story.
“When you look at the measurements they’re using it’s not shocking that they’ve come to the conclusion that they have,” says South Dakota State Chamber of Commerce President David Owen.
Owen says the Wallet Hub survey is broken down into three categories: economic activity, economic health, and innovation. On activity, the survey has South Dakota at 47th, but for economic health, the state ranks number nine. On innovation, Owen says, the analysis the survey uses doesn’t include any South Dakota companies for ‘fastest growing.’
The soft farm economy also holds South Dakota down.
He also says that the survey tends to weigh against more rural states. Sioux Falls and Rapid City have strong economies, but the Native American reservations and small towns across South Dakota bring the state’s ranking down.
Owen says the bottom line is that it’s a more complex world than “sound bites” allow so he urges everyone to read the full study.