Creighton University’s Mid-America Business Conditions Index continues to find broad economic pessimism among supply managers from North Dakota to Arkansas. Institute for Economic Inquiry director Ernie Goss says South Dakota slipped into pessimism for the first time since November 2012:
For the first time since November of 2012, South Dakota’s leading economic indicator fell below growth neutral 50.0. The Business Conditions Index, from a monthly survey of supply managers, declined to 42.6 from 50.9 in September. Components of the overall index for October were new orders at 38.7, production or sales at 39.3, delivery lead time at 50.1, inventories at 41.8, and employment at 43.0. “U.S. Bureau of Labor Statistics data show that over the last year, South Dakota added 2,100 manufacturing jobs for a gain of 4.9 percent. Unless our survey results weaken again in the months ahead, I expect slow but positive growth for the state economy into the first quarter of 2016,” said Goss [“Mid-America Business Conditions Falls Again: Almost One of Five Manufacturers Expect Layoffs in Next Six Months,” Creighton University Institute for Economic Inquiry, 2015.11.02].
Slow but positive economic growth—South Dakota comes out better on that scale than many of the other states in the survey; IEI expects manufacturing job losses to continue in Oklahoma, North Dakota, Nebraska, Kansas, Iowa, and Arkansas.
What’s beating the region up? Dr. Goss mentions the strong U.S. dollar, a weak global economy, falling agriculture prices, and falling oil prices.
It seems those negative factors have the greatest impact if you’re plugged into the global corporate economy. Build more local enterprises meeting local needs and driving more local consumption and hiring, and you better insulate your state against such global forces. Hmm… South Dakota Department of Agriculture, are you ready to invest more in small-scale, locally oriented agriculture?
South Dakota has everything it takes to be a huge economic engine. Simply walk outside and you can feel it. Here is what Scotland is getting ready for http://qz.com/539712/scotland-is-about-to-be-home-to-the-worlds-largest-floating-windfarm/
We do not have an ocean to float wind on, we do have an ocean of grass though, same concept. We could produce on our reservations, solar panels and cells to go along with them. We have higher education facilities on each of the reservations that could expand to make this happen with EB-5 monies from a government to government agreement. Remember the posters on the reservations that speak of the first Homeland Security? That would be how the EB-5 deal could be consummated. Forget the corrupted state of Daugaard-Rounds, move on past that. Here is the potential wind map for South Dakota. http://apps2.eere.energy.gov/wind/windexchange/wind_resource_maps.asp?stateab=sd Looks pretty good doesn’t it. The tribes could manage the EB-5 process on those off reservation sites as well. Payments to the landowners and overseeing the infrastructure for these projects would also be done by tribal concerns. The EB-5 investors would be able to see their projects producing profits in short order. The other government involvement would be on the Federal side as grids would have to be much improved to transfer the power to the national grid.
Remember that South Dakota flag that got stolen under Gnats nose? It declared that South Dakota was the Sunshine State. Well, turns out it is. We could also produce solar here in production as well. https://en.wikipedia.org/wiki/Solar_power_in_South_Dakota
This would work in west river very well as shown by the maps. The production does not die in blizzards nor does it suffer from market changes by the big four producers. Each time you open the door to the fridge, you generate profits.
Oh, and Bill Gates agrees. http://www.theatlantic.com/magazine/archive/2015/11/we-need-an-energy-miracle/407881/ We cannot expect private enterprise to do anything, so we must have government intervention along with the Chinese and others who can supply hard cash.
The state is scared to death of Obama’s socialist money, but would love to roll around naked in communist money. Explain that to me.