Congratulations
to the class of 2015! To all high school, college and technical school students
now approaching graduation in South Dakota, I commend you for reaching this
milestone. After years of studying, taking tests and writing essays, you’ve
finally made it. Congratulations on all you have achieved!
Most
of you probably already have a good idea of what you’ll be doing next – what
additional education you’ll seek or what career you’ll pursue. Whether you’ve
decided to stay in South Dakota or pursue a career or education elsewhere, I
hope you’ll ultimately consider a future here in our state. There are a number
of reasons to consider living and working here.
First,
we have the fourth lowest unemployment rate in the nation at 3.5 percent,
compared to the national rate of 5.5 percent. Job opportunities are better here
than in most places.
Secondly,
the tax burden in South Dakota is low. We are among only a few states without
an income tax, meaning you can keep more of the money you earn. Money that can
repay student debt, buy a house someday or replace that car you drove into the
ground in school.
Third,
not only do people keep more of the money they earn in South Dakota, but that
money will buy more here than in other places. According to a U.S. Department
of Commerce report, South Dakotans experience a very low cost of living in the
United States. We don’t spend as much money on housing, insurance, food and the
other everyday needs. In fact, we have some of the lowest costs in the
nation. In New York, California, Washington, D.C., or many other places,
you will find costs that are 10 percent, 12 percent, even 18 percent higher
than the national average. In South Dakota those costs are only 88
percent of the national average.
Now
some people will say, “There may be a low tax burden and low cost of living, but I
won’t get paid as much if I live in South Dakota.” Actually, when it comes to
per capita personal income, we fare pretty well. Nationally, we rank in the top
half. And, if you adjust the per capita personal income for the low cost of
living, we are the fifth best in the nation. If you adjust for lack of
income taxes, we rank third in the nation.
Beyond
the financial reasons, though, South Dakota is a great place to live because we
have a good quality of life here. Our communities are safe, our public schools
are high-quality and our people are friendly. We also have clean air, clean
water and beautiful scenery. And you can’t put a price tag on the love
and support of your family, here in South Dakota.
My
hope is not that you will never venture outside of our state, but rather that
you would consider a more permanent future in South Dakota. Your dreams can
come true – right here at home.
