Sioux Falls has cracked the Top 10 again for its strong local economy in POLICOM's annual "economic strength" rankings, coming in at No. 9 in 2012, up one from No. 10 in 2011. POLICOM annually ranks the 366 Metropolitan Statistical Areas and 576 Micropolitan Statistical Areas in the U.S. for "economic strength." Metropolitan areas must have a city of at least 50,000 people and are typically more than one county. The study measures 23 different economic factors over a 20-year period to create the rankings. The formulas determine how an economy has behaved over an extended period of time. Data stretching from 1991 to 2010 was used for this study. POLICOM has created this study each year since 1997. To read the entire report, click here.
Things are booming in parts of the Midwest, says Bert Sperling of Sperling's BestPlaces. Sperling analyzed the latest government data and found that Sioux Falls ranked No. 5 as in offering America's best combination of low joblessness and a high percentage of singles (i.e., people to date after a divorce). The largest city in South Dakota, Sioux Falls has just a 5.5 percent unemployment rate and a 15.7 percent singles rate (America's19th-highest). Sperling says South Dakota's business-friendly laws — there's no corporate income tax — have attracted lots of employers, especially banks. "Sioux Falls combines a diverse economy with a small-town atmosphere and a low cost of living," he says. Read the whole story here. (December 2011)
South Dakota came in at No. 10 in a 24/7 Wall St. review of data on financial health, standard of living and government services by state to determine how well each state is managed South Dakota had the third lowest unemployment rate and the fourth lowest rate of foreclosures. Read the whole story here. (December 2011)
South Dakota topped the list of the Small Business & Entrepreneurship (SBE) Council's 16th annual ranking of the states according to their public policy climates for small business and entrepreneurship in the "Small Business Survival Index 2011: Ranking the Policy Environment for Entrepreneurship Across the Nation." The 2011 Index was expanded to cover 44 major government-imposed or government-related costs affecting small businesses and entrepreneurs. The measures are added together for an overall rating. To access the "Small Business Survival Index" report click here. To view the interactive map of "Small Business Survival Index" findings, click here. (November 2011)
South Dakota ranked the best for business costs and was 17th overall in Forbes list of the Best States for Business. For the complete story click here. (November 2011)
Sioux Falls made the list of the top 100 best places to live in America, according to RelocateAmerica. The process is based on site nominations and issues most important to relocating consumers and homeowners for the upcoming year. For 2011, the researchers found the best communities that are well positioned for economic recovery, already experiencing strong economic recovery or have proven overall economic stability. Factors such as employment, education, community leadership and overall quality of life are strongly considered and all the data is examined to determine the Top 100. (July 2011)
On Forbes’ 13th Annual list of the Best Places for Business and Careers, Sioux Falls ranked No. 2 among the best small places. Twelve metrics relating to job growth (past and projected), costs (business and living), income growth, educational attainment, projected economic growth, quality of life issues (crime rates, cultural and recreational opportunities), college rankings and net migration patterns were factored in. Previously, Sioux Falls was ranked No. 1 from 2003-10. (July 2011)
Sioux Falls is one of 10 Cities That Embody the American Dream, according to TheStreet. TheStreet limited its search to cities that the Bureau of Labor Statistics reported as having 5 percent unemployment or less in May 2011. That whittled the list to only 17 cities in the U.S., which included Sioux Falls. The affordability of the remaining cities was judged based on the ratio of the median prices of existing single-family homes in the first quarter of this year provided by the National Association of Realtors to the area median incomes. Education, a community’s walkability, economic stability and friendliness to the business community were also factors. (July 2011)
Sioux Falls has the 10th strongest local economy in the U.S., according to POLICOM Corporation's annual economic strength rankings. Sioux Falls is the only community that is not a capital city or typical “college town” that is included on the list. (May 2011)
The average credit score, a measure of financial responsibility, is finally starting to stabilize after a steady slide from 2006-09, suggesting consumer belt tightening is starting to work. The national average was 747.10 at the end of 2010, according to credit reporting agency Experian. On a scale of 501 to 990, Sioux Falls residents’ average credit score was 773.44. Sioux Falls was No. 10 on a list of cities with the highest credit scores in information collected by CNBC (April 2011).