THE SECRETARY’S MINUTE

South Dakota Secretary of State Jason M. Gant

ECONOMIC REPORT

It is my privilege to provide the public with the first quarter Economic Report for 2013. As reported in the last quarterly Economic Report, corporate filings continue to remain strong in South Dakota, with Limited Liability Corporations again taking the lead with approximately 54% of the filings in the first quarter of 2013. Total filings for the first quarter of 2013 are up 8.69% or 163 over the same time period in 2012.

While the mid April snow fall caused a few problems for travelers and damage across the state, the agricultural community welcomed the much needed moisture. This, combined with the warming temperatures, makes us hopeful for a prosperous growing season. The moisture should also help tourism and outdoor recreation as South Dakota’s rivers and lakes continue to provide wonderful places for families and visitors to boat, fish, and camp throughout the summer. The walleye are biting in Pierre; have a great summer.

Photo courtesy of South Dakota Department of Tourism

1st Quarter 2013 Issue

Secretary’s Minute..………..….…1 Economic Indicators………..……2 Limited Liabilities Companies Continue to Lead Filings…..……3 The Secretary’s Spotlight……...4

1,577

1,958 2,038

Q3 2012 Q4 2012 Q1 2013

Trademark Filings

New Entity Filings

Economic Indicators At-A-Glance

vs. prior quarter

vs. prior year

Corp. Annual Reports

vs. prior

quarter vs. prior

year

SD Unemployment

vs. prior quarter

vs. prior year

SD Labor Force

vs. prior quarter

vs. prior year

New Corporation Filings Continue to Increase

The upward trend in new filings continues, with a total of 2,038 new filings since January 1, 2013.

NonFarm Wage and Salary Employment

vs. prior year

vs. prior year

vs. prior quarter

vs. prior quarter

Labor Statistics provided by the South Dakota Department of Labor and Regulation

Limited Liability Companies Formation of Choice

Limited Liability Companies continue to lead the way as the formation of choice for new entities, accounting for 4,722 of the 7,271 new filings in the

past 12 months.

Limited Liability Company formations continue to increase each year, with 85 more filings in March 2013 than March 2011.

690 695 700 705 710 715 720 725 730 735 740

Mar-11 Mar-12 Mar-13

Three Year Comparisons – LLC’s

34%

66%

Filings by Category - March 2013 All Other Filings LLC's

When registering your business for the first time, or doing an annual report, don’t forget to register a trademark for your business name and/or logo with the Secretary of State’s office. A Trademark is any word, name, or symbol intended to be used to identify and distinguish the goods/services of one entity from those of others. Although registration is not mandatory, it will protect your business from individuals wanting to use the same or similar business names and/or logos within the state of South Dakota. Registration filing fees are $125 per mark and is valid for a period of four (4) years. If your mark is already registered with the State of South Dakota, renewals can be completed up to six (6) months in advance by completing a renewal application and submitting to our office with the filing fee and sample of your mark. For more information visit our website: sdsos.gov or contact our Trademark Administrator at (605) 773-2797.

Trademark Registration