Keeping active in SouthDakota after retirement

There are many reasons South Dakota is a good place to retire. There are many recreational opportunities and scenicliving areas in Rapid City, luxury townhomes or an independent living atmosphere at Primrose Retirement Communitiesin Aberdeen, as well as inviting retirement communities such as the Waterford at All Saints in Sioux Falls.

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Waterford Executive Director Angie Rabon saystoday’s retiring seniors have many skills andenjoy using them.

“A number of residents here volunteer at Sioux Fallshospitals or churches,” Rabon says. “A knitting groupcreated scarves and afghans for charitable organizationsand our quilters made blankets for a local organization.Those are all valuable activities that give residents here asense of purpose, a job they can be involved in.”

Waterford is among retirement communities that offerresidents several levels of service, including independent

living, assisted living, or Memory Care. In addition tomeeting retirees needs, their services provide residents’families with peace of mind, knowing they live in a secureand caring environment.

“Our staff are in the building 24 hours a day,” Rabonsays. “We strive to meet physical, mental, and spiritualneeds in our community. Retiring seniors have needs thatgo far beyond the basics of housing and regular meals.”

Michelle Hagan, Sales and Marketing Manager atPrimrose of Aberdeen, says her company’s retirementcommunities were based on the premise that a retirement

2South DakotaBusiness Rankings

4Revampingincentives

6Drive of a Lifetime

7REDI Fund

8Economicdevelopment’s best

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South Dakota

2 SDPB June 2011

community must reward its tenants with value, comfort,security, and convenience.

“Jim Thares first opened Westin Court in 1991,” Hagansays. “It was later renamed Primrose RetirementCommunities and now there are 26 communities acrossthe United States, including Sioux Falls and Rapid City.We offer completely independent living through ourPrimrose Townhomes and also have independent livingapartments, complexes that provide security services suchas a daily door check, along with social activities. Assistedliving arrangements are also available. That allowsresidents to choose the type of setting most comfortablefor them and their family.”

Both women say seniors today tend to be much moreactive. Retirees in the communities span a wide age range.

“Our youngest resident is 62 and the oldest is 99,”Hagan says. “At Primrose seniors areable to have a pet, which is anappreciated option, especially if they’vehad a pet for a long time and they wantto bring the pet with them.Weincorporate all services into onemonthly cost so seniors have that muchless to cause stress in their lives.”

Gil Raben at Raben Real Estate inRapid City often sees seniors seeking awide variety of leisure time activities,such as the fishing, hiking, swimmingand hunting opportunities found in theBlack Hills region.

“People come from all over thecountry to the Black Hills because ofour climate and wealth of recreationalopportunities,” Raben says. “In RapidCity they find all the amenities of a bigcity, as well. They can attend concerts,stage plays, and enjoy a variety ofshopping experiences. We see many

retired military personnel making Rapid City their homeafter they’ve lived in the nearby military compounds andhave come to know the benefits this area offers toretirees.”

Seniors also search for medical services and easy accessto shopping when they transition from the workplace.Rabon and Hagan recommend exploring retirementoptions well in advance of the actual transition to allowtime for necessary planning activities, including financialpreparedness.

“Many seniors choose to live in an apartment,however, in a retirement community they have manyadded amenities and a great deal of peace of mind,”Rabon says. SDPBLoretta Sorensen, Owner, Prairie Hearth Publishing,

LLC. sorensenlms@gmail.com.

South Dakota Business RankingsSubject Rank Year SourceSmall Business Survival Index 1 2010 Small Business & Entrepreneurship Council

Tax Freedom 4 2010 Tax Foundation

Overall State Tax Burden 1 2010 Pacific Research Institute / Forbes

Best Corporate Business Climate 8 2010 Pollina Corporate RE

Top Performing States 3 2010 U.S. Chamber of Commerce

Source: South Dakota Governor’s Office of Economic Development (www.sdreadytowork.com)

The FederalSavings andLoanAssociationwasauthorizedwith thepassage ofthe HomeOwnersLoan Act.The purposeof thelegislationwas toprovide aconvenientplace forinvestmentand to lendmoney onfirstmortgages.The firstassociationwas the FirstFederalSavings andLoanAssociationof Miami, FL,which waschartered onAug. 8,1933.

ONJune 13, 1933

Waterford at All Saints in Sioux Falls, SD(Photo courtesy of Waterford at All Saints)

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4 SDPB June 2011

South Dakota revampsincentives to expand appeal

Beginning in 2013, South Dakota will have a newfinancial tool to encourage business development inthe state, says Pat Costello, Commissioner of the

Governor’s Office of Economic Development.Gov. Daugaard’s “Jobs Bill” (HB 1230) will be funded

by dollars recovered through the December 2012 sunset ofthe current program, which refunds a percentage of thecontractors’ excise tax. The fund will provide grants forbusiness investments in “large projects” in the state, nowdefined as being $5 million or more in scope – down fromthe previous threshold of $10 million.

“When the Jobs Bill becomes active in 2013, it willprovide a flexible, targeted, and strategic economicdevelopment tool to better serve the needs of ourcommunities, our businesses, and our prospects,”Costello says.

The Sioux Falls business community is pleased withthe change. “We supported it,” says Michael Bender, Chairof the Sioux Falls Area Chamber of Commerce. “TheChamber endorsed it and lobbied on behalf of it, and wewere quite happy it was signed by the Governor.”

In addition to lowering the threshold so that moreprojects would qualify, Bender believes another change isequally important.

“It lowered the limit from $10 million to $5 million,but more importantly, they made it discretionary,” headds. “That’s why it made sense.”

Under the new system, which will take effect on Jan. 1,2013, the incentives are no longer mandatory – avoidingthe situation of being required to give to a project that iscoming to South Dakota regardless.

Julie Johnson, Executive Director of AbsolutelyAberdeen, was also involved in re-engineering the LargeProject Fund and believes it is a positive move. Shepoints out that, in addition to being utilized by

businesses, the fund can also assist communities workingto bring in new opportunities.

“It isn’t always the company making the decision – it’ssometimes the locals deciding that they are going to takethe risk in inviting a company to do business there,” saysJohnson. “It’s a very important tool for companies andcommunities to fill the gap in their financing structure.”

Aberdeen recently announced that 1,000 new jobs willbe available in the area this year. Johnson notes thatseveral of them have been able to tap into the existingincentives, including Northern Beef Packers, South DakotaWheat Growers, Molded Fiber Glass Cos. and others. Inthe case of Molded Fiber Glass, which manufactures bladesfor wind turbines, the Aberdeen DevelopmentCorporation was able to use the incentives to build thefacility and lease it to the company. Johnson believes thisis a very viable business model – the local communityowning the structure and leasing to the company.

Bender says incentives are especially valuable as SouthDakota competes with states having more people andmore tax revenue. “Every company is different, butsometimes it does make or break their decision,” he states.“It is an integral part, one of the top two or three issuesevery company looks at when making these decisions.”

Although incentives are important, Costello believesSouth Dakota’s appeal is more comprehensive than justcash on the table. “We certainly need incentive tools tomake us competitive, but when a company takes a longview of South Dakota’s outstanding business and taxclimate, our highly productive work force, and ourcompetitive financial incentive packages, they won’t find abetter place to do business.” SDPBKristin Brekke Vandersnick is a Willow Lake, SD-based

freelance writer. She can be reached atbrekkefarm@gmail.com.

A law signed this spring by Governor Dennis Daugaard re-engineers the current contractors’excise tax refund program and creates a new Large Project Fund, a step leaders across thestate believe will boost business in South Dakota.

South Dakota

South Dakota had the sixth-highest increase in Gross Domestic Product (GDP) by State from 2008to 2009. The United States experienced a 1.3 percent decrease.

DID YOU KNOW

RESEARCHFOCUSES ONINFORMATIONSECURITY

Wei Wang, anassistantprofessor withSDSU’sDepartment ofElectricalEngineeringand ComputerScience inBrookings, SD,may have founda way to make itsafer to transferinformationover mobiledevices.

Wang and hiscolleagueselsewhere areusing aproposed newselectiveencryptiontechnique toprotectimportantcontent instreaming videoover wirelessnetworks.Source: Newswise

South Dakota Tourism’s Media and Public RelationsManager, Wanda Goodman, says the state is honoredby National Geographic’s designation.

“They (National Geographic) are an incredibly well-known and respected publication,” Goodman says. “Thirdparty publicity such as this adds credibility to SouthDakota and everything the state has to offer.”

Goodman believes the international recognition willboost global awareness of the beauty and wealth ofrecreational opportunities found in the Black Hills.

“The Black Hills are a jewel, not only in our state butthe entire Midwest region and our country,” Goodmansays. “Many travelers think of South Dakota as flyovercountry. However, once they discover the beauty to befound here, they’re pleasantly surprised and share theirdiscovery with family and friends.”National Geographic has included comments about the

Black Hills in their newly released book, “Drives of aLifetime, 500 of the World’s Most Spectacular Trips. Thepublication will take news of South Dakota’s Black Hillsfar and wide.

“It’stooearly tosay if thispublicity hasspecifically beenthe cause of any ofour inquiries,”Goodman says. “We’llcertainly continue to monitor the impact of therecognition as closely as we can.”

More information about National Geographic and“Drives of a Lifetime” are available atchannel.nationalgeographic.com. Additional informationabout the Black Hills and tourist opportunities can befound at www.blackhillstouristinfo.com or by contactingSouth Dakota Tourism at Department of Tourism.SDPBLoretta Sorensen, Owner, Prairie Hearth Publishing,

LLC. sorensenlms@gmail.com.

6 SDPB June 2011

South Dakota

South Dakota’s state tourism office was delighted to hearthat National Geographic included South Dakota’s BlackHills region in their April 2011 “Drives of A Lifetime” list.“Stunning landscapes, rich history and abundant wildlife”are just some of the terms included in National Geographic’sdescription of the area.

ermillion-based SDNAdesignated state’s

Commission for Nationaland Community Service

The South Dakota Workforce Development Programextends education and training resources so South Dakotaemployers will be provided with a well-trained and skilledwork force.

Workforce Development Program (in 2010)

Grants Awarded .........................................................65

Companies Awarded...................................................54

Dollars Awarded...........................................$4,008,365

Employees Trained .................................................3,752

VThe South Dakota Nonprofit Association

(SDNA), located in Vermillion, SD, has

been designated as South Dakota’s State

Commission for National and

Community Service. The designation

allows SDNA to act as the administrative

organization for AmeriCorps and other

national service and volunteer programs.

Source: Vermillion EDCWebsite

Black Hills region‘Drive of Lifetime’

We’re one of the strongest capitalized banks in the country and we call South Dakota

home. We put this strength to work for the communities we serve. Over the past three

years PREMIER associates have donated more than 90,000 hours in service to others.

In 2010 we served over 600 agencies and activities throughout South Dakota.

Check out all our PREMIER advantages at www.firstpremier.com

www.firstpremier.com

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REDI Fund (in 2010)

Loans approved . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13

Dollars approved . . . . . . . . . . . . . . . . . . . .$17,085,947

Projected FTEs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .593

Projected FTEs retained . . . . . . . . . . . . . . . . . . . . . . .417

Total Project Cost . . . . . . . . . . . . . . . . . . . .$182,701,594RED

IFU

ND

REDI Fund is a low-interest loan fund in SouthDakota available to start-up firms, businesses thatare expanding or relocating and local economicdevelopment corporations.

8 SDPB June 2011

South Dakota

Governor recognizes achievementsat Economic Development Conference

Canton, left to right, Jon Frick, Mayor Jonathon Toso, Amy Nelson,Governor Dennis Daugaard. (Photo courtesy of South Dakota GOED)

CANTO

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Canton was awarded the Small Community of the Yearduring the annual GOED conference in Sioux Falls.

“These individuals and communities make economicdevelopment happen in South Dakota,” Gov. Daugaard says.“It is their diligence, commitment and desire for successthat helps businesses move forward in the state.”

The Governor attributed Canton’s award to majorexpansion projects in the past year at Adams ThermalSystems Research & Development Center and at Bid-Well.The two firms will create more than 50 new jobs and retainmore than 125 jobs in the Canton area.

“The city, economic development groups, volunteers andother community leaders have truly worked as a team to putCanton’s best foot forward,” Gov. Daugaard adds. “Theyhave proven that a small town like Canton can supportquality companies and offer great jobs to residents.”

Mitchell, left to right, Bryan Hisel, Dean Frederickson, Mark Buche,Mayor Lou Sebert, John Iverson, Governor Dennis Daugaard. (Photocourtesy of South Dakota GOED)

Mitchell was awarded the Large Community of the Yearat the annual GOED conference in Sioux Falls.

Mitchell stands out because of its focus on smallercommunities and innovative efforts to establish cooperativerelationships with area organizations, the Governor says.

“Mitchell has been a real pioneer this year when it comesto collaborative projects,” Gov. Daugaard adds.

Those projects include stimulating regional economicdevelopment by partnering with the Kelley Center forEntrepreneurship at Dakota Wesleyan University;partnering with Nation Job to recruit employees online forlocal businesses; and creation of the state’s firstEntrepreneurs & Inventors Club, Mitchell RegionalInvestors, and the Dakota Heartland DevelopmentAssociation.

“These entities will further spur entrepreneurship andencourage business growth in the Mitchell area,” Gov.Daugaard concludes.

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Charles (Eddie) Clay of Hot Springs received the Excellence inEconomic Development Award.

“Eddie Clay has played a major role in nearly every economicdevelopment project in the Black Hills area for the past 50 years,” Gov.Daugaard says.

“Eddie was involved in promoting Ellsworth Air Force Base, theunderground lab at Lead, the Ports-to-Plains Transportation Corridor,and Black Hills Vision. Most recently, he played a key role in maintainingHot Springs as the site for a new Veteran’s Administration facility – anotable and worthy project for the community,” the Governor adds.

Blaise Emerson accepting for 2011 Excellence in EconomicDevelopment winner Eddie Clay from Governor DennisDaugaard. (Photo courtesy of South Dakota GOED)

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The Excellence in Economic Development Award was established tohonor the dedication and commitment of eight South Dakotans wholost their lives during an economic development trip in 1993.

Businesses and individuals from across the state helped finance theaward in memory of the late-Gov. George S. Mickelson, Roland Dolly,Ron Reed, Angus Anson, David Birkeland, Roger Hainje, Dave Hansonand Ron Becker.

The spirit of those visionary South Dakotans lives on through thecurrent efforts of individuals across the state.