The Sioux Falls Area Chamber of Commerce Issues Management Council conducts research, hears presentations and surveys local citizens about issues affecting business. These efforts, combined with following and monitoring legislative activity since the close of last session, guide the development of a business platform for the 2018 session. Among the topics on this year’s legislative agenda for the Sioux Falls business community are:
SB 235 of the 2013 Legislative Session established the Building South Dakota Fund and during the 2014 Session, one-time funds were used to forward fund the new program. The Sioux Falls business community supports the program and will closely analyze any legislation that impacts it and other economic development efforts in our state.
Tax Increment Financing
When compared to other states, South Dakota has limited programs available to compete for and leverage business growth and development. One such program, locally controlled and administered, is tax increment financing which can be vital to a project expanding or relocating in South Dakota. Support for appropriate use is recommended for local decision-making in the administration of TIFs to address blight, build infrastructure, encourage workforce housing expansion, promote economic development and make public improvements.
Our economy is best served by allowing free and open competition in the marketplace in an environment that encourages business development and expansion. Laws that give advantages to one business structure or arrangement over another ultimately lessen competition and reduce our area’s attractiveness as a business location. Barriers to business investment and capital formation impede growth and economic diversification. Appropriate rules and regulations may be required for a viable free market, but government intrusion should not inhibit or restrict business unnecessarily.
Education And Workforce Development
The future of Sioux Falls and South Dakota depends on educating our citizens and developing our workforce to remain competitive on a regional, national and international scale. It is vital to foster an educational system that works in tandem with the business community and government to address and support workforce development initiatives. Sioux Falls actively encourages any workforce development proposals that may arise during the legislative session. To meet workforce development needs, it is essential to allocate public monies to ensure funding for an equitable, effective and efficient system of pre-K-12, technical schools and higher education.
To view the entire Chamber 2018 Legislative Platform, visit www.siouxfallschamber.com/legislative-platform.cfm.
There is better training for our workforce in Sioux Falls. A multitude of options are available to meet businesses' needs at the postsecondary level including city programs, state grants, technical training, and a new $50 million scholarship program for technical school students.Read More