How South Dakota has grown and changed into a thriving destination
I’m a native born South Dakotan, born and raised in the western end of the state in the town of Rapid City. Growing up during the 1960s and 70s, I remember when we were pretty much just an agricultural community with a few million tourists passing through on their way to visit Mt. Rushmore national monument. We also had the economic advantage of having Ellsworth Air Force Base established just a few miles to the northeast of the city limits.
While this allowed us to have a beautiful place to live and afforded many outdoor activities, it didn’t always provide for a good deal of economic opportunities for young people joining the workforce. I was fortunate to have always been a part of the housing industry, either through construction or real estate sales. However, I wound up moving away for opportunity while still young, just as so many of my high school friends did. I raised my children and then returned almost six years ago to what I was surprised to see as a thriving economy in my home state!
We have been impressed to learn that South Dakota is finally more than just a vacation destination. It is really becoming a destination for businesses to grow and baby boomers to retire! In fact our little town of Rapid City has just experienced four record years for building permits issued, with more than $300 million in new permits for 2019 alone.
It seems that people are really interested in considering our area when approaching retirement age because we have lower property taxes, no state income tax, and no corporate income tax, which is really attractive when compared to other states.
In addition, the mild “banana belt” winter weather allows for big game hunting, hiking, fishing, snowmobiling, skiing, four wheeling, small game hunting, and ice-fishing. Summertime opens up opportunities for camping, rock-climbing, motorcycling, mountain biking, rodeos, canoeing, swimming, water skiing, and numerous other fun activities.
Whether you’re looking to retire onto a hobby farm or simply enjoy the great outdoors, the possibilities are endless.
I expect land values to continue to rise as more people migrate into this state, bringing with them new ideas as well as new industry. Just recently, I received a call from a local developer who has $80 to $100 million in new commercial lots available if someone needs a place to “park” some money. This is certainly just one exciting opportunity among many that are growing up as western South Dakota continues to grow as a business hub for its surrounding region.
With that said, I believe that an investment in South Dakota real estate today is about as good as it gets!
As always I’m happy to discuss possibilities with anyone who’d like to call. 417-883-1800 Let’s talk real estate!
As always I’m happy to discuss possibilities with anyone who’d like to call. 417-883-1800
Let’s talk real estate!