Chair's Column
We're all in this together

By Dave Fleck
2008-09 Chair of the Board

Dave Fleck 2008-09 Chair of the Board

Though March ended with winter weather in much of our state, I can see spring is on the horizon and I am encouraged about what lies ahead for our local economy.

Looking around our community, the evidence is there that we know how to work together when times are good. The bigger question is, can we work together when times are more difficult? I think the last few months have shown us all that we may need to alter the way we do business to accommodate the "new" economy, but that we are stronger than we realized. Several recent news items back this up:

Sales tax revenue for February was up over 2008 numbers. The Sioux Falls Area Chamber of Commerce partnered with local media and Chamber members to hold the inaugural Sioux Falls Area Super Sale — which may have had a hand in boosting sales tax revenue.

Forward Sioux Falls, Bender Commercial Real Estate and the Highways and Buildings Chapters of the Associated General Contractors are co-sponsoring the South Dakota Economic Summit on April 9. We're privileged to have Dr. Gary Stern, Chair of the Ninth Federal Reserve Bank, Brand Anderson, Vice Chairman and CEO of Best Buy Co., Inc. and U.S. Sen. John Thune as our speakers. This event is free and open to the public and will give us all some insights about what's happening at the national and regional level and how that affects South Dakota and our local economy.

Sioux Falls is expected to create more than 2,220 new jobs and have a population increase of more than 3,100 new people in 2010 according to a March 2009 forecast report from Woods & Poole Economics Inc., an economic research firm in Washington, D.C. Sioux Falls is projected to emerge from the national recession with a 2.3 percent increase in gross regional product in 2010.

The U.S. Census Bureau ranked Sioux Falls as one of the fastest-growing metropolitan areas in the nation. From July 1, 2007-July 1, 2008, the Sioux Falls MSA grew by almost 6,000 people to 232,930, ranking it No. 19 on the list. Lincoln County was the 12th fastest-growing county in the nation at a rate of 5.3 percent during that same time period.

For the third year in a row, Sioux Falls was named a finalist for the National Organization on Disabilities' Accessible America Award in March. The city was recognized as a national model for its focus on disability issues and successful design of programs, services and facilities that are accessible for citizens and visitors who have disabilities.

What does all this mean? We are not immune to the recession, yet there are still many bright spots in our community and reasons to be proud that we live, work and do business in Sioux Falls.