Incentives & Assistance

Innovative Support and Financial Packaging Services

Every business and industry is unique. The Mitchell Area Development Corporation (MADC) recognizes these unique needs and customizes services and incentives for each business and industry project. We have the necessary expertise and a proven track record of providing innovative support for new and expanding industries. Financial packages and construction support services are available through the MADC. Call for more information on our services and incentives.

Business Environment / Taxes

South Dakota is committed to having one of the best business climates in the nation. The business climate has repeatedly received high ratings in national comparisons which center on the cost of doing business. Companies locating in Mitchell benefit from that pro-business attitude.

No Corporate Income Tax
No Personal Income Tax
No Personal Property Tax
No Business Inventory Tax
No Business Franchise Tax
No Unitary Tax

Cost of Living

South Dakota ranks #9 in per capita disposable income adjusted for cost of living*. The average South Dakota salary for occupations requiring a bachelor's degree is $43,543. For those requiring a bachelor's degree plus work experience, the average South Dakota salary is $77,124.

Here are more South Dakota statistics:

#2 nationally for overall cost of living
#1 for lowest cost of miscellaneous goods
#1 for lowest cost of transportation
#8 for lowest cost of housing
#10 for lowest cost of groceries
#16 for lowest cost of utilities
#18 for lowest cost of healthcare
#1 nationally for business climate for entrepreneurs
#1 nationally for the lowest property crime rate
#4 nationally for the lowest violent crime rate

*Source: The Cost of Living Index, The Council for Community and Economic Research (formerly ACCRA), www.livedakota.org

Loan Programs

Low interest loan programs are available through various State, Regional and Local agencies.
State Revolving Economic Development and Initiative Fund
State Economic Development Finance Authority Revenue Bonds
SBA 504 Loan Programs – South Dakota Development Corporation
First District Development Company
SBA 7A (Guaranteed) Loans
Rural Electric Economic Development Loan Fund
Areawide Business Council Revolving Loan Fund
Mitchell Area Development Corporation Revolving Loan Fund

Land and Infrastructure Assistance

The City of Mitchell, the Mitchell Area Development Corporation, and local utility representatives work together in order to meet the land and infrastructure needs of new and expanding industries. Call and be surprised by what the MADC can do to meet your new site requirements.