Wessington South Dakota Demographics

TAXES

Wessington, SD has low taxes since South Dakota has the second strongest state economy in the nation, according to US News & World Report. The reason for our success is our business climate:
* South Dakota has NO Corporate Income Tax
* South Dakota has NO Personal Income Tax
* South Dakota has NO Personal Property Tax
* South Dakota has NO Business Inventory Tax
* South Dakota has NO Inheritance Tax
* South Dakota has Low Workers Compensation Rates
* South Dakota has the Lowest Average Unemployment Insurance Rates in the Nation
* South Dakota is a Right to Work State
* South Dakota has a 4 % State Sales & Use Tax
* Wessington has a 1% City Sales Tax
* "Tax Freedom Day" comes to South Dakota two days earlier than the rest of the nation.

ECONOMY & BUSINESS CLIMATE

Wessington, SD has a healthy economy. With over 50 businesses located within a ten mile radius of Wessington, Wessington's economy is stable and growing. At first glance, it seems that such a small town cannot possibly have so many businesses, but this is an area where home-based businesses, family-run farms and ranches, and manufacturing abound.

Wessington, SD has an attractive business climate since South Dakota ranks HIGH in the nation for
* Cost of Doing Business-we're #1, according to Economy.com Business Cost Review
* Entrepreneurial Friendliness-we're #2, says Small Business Survival Foundation
* Business Friendly Legislatures-we're #5, according to Expansion Management Magazine
* Workers Comp Cost for Manufacturers-we're #15, says Actuarial & Technical Solutions

Wessington, SD benefits from and subscribes to South Dakota's philosophy: "When you earn a profit, you should keep it." You can make more profit in South Dakota than in any other state in the nation. How? Bottom line benefits include: no corporate or personal income taxes, lowest unemployment insurance rates in the nation, competitive workers compensation rates, a pro-business climate that fuels corporate SUCCESS

FINANCIAL ASSISTANCE

Wessington and the State of South Dakota can provide financial assistance
* WEDC Micro-Loan Program, with $500 and $1,000 loans, is available to help businesses with expansion or start-up costs. For more information, e-mail: vicki@prairiebeacon.com

* REDI Fund, a low-interest loan fund, encourages companies to create new jobs in South Dakota.

* Workforce Development Program can help train new and existing employees.

* SBA 504 Loan Program offers long-term, fixed-rate financing, for asset purchases such as land, buildings, new construction and equipment to for-profit businesses.

* MicroLOAN South Dakota Loan Program is made available to small businesses within South Dakota and South Dakota residents, including main street and retail operations, for working capital, equipment, real estate or other fixed asset project costs.