South DaCola

Editorial Cartoonist from South Dakota

economy

economy Sioux Falls

A handup not a handout

l3wis 7Comments

This is how you help local businesses expand in South Dakota without giving a handout;

Gov. Dennis Daugaard recently announced the state Board of Water and Natural Resources has approved an $860,000 low-interest loan from the Solid Waste Management Program for Millennium Recycling in Sioux Falls to purchase equipment.

“These funds will help Millennium Recycling obtain equipment to accept additional recyclables, which will reduce the waste stream to regional landfills,” Daugaard said.

The project involves adding equipment to allow Millennium Recycling to sort plastic containers, such as milk, juice and broth cartons, for recycling. Additionally, Millennium will reconfigure sections of its single-stream recycling process to add the new capability and increase the efficiency of its operation.

The estimated cost of the equipment is nearly $1.2 million. The loan terms are 2.25 percent interest for 10 years.

Giving low interest, or even no interest loans to businesses that are beneficial to citizens is the smart way to go. When you give a loan instead of a handout, it is sending a message to taxpayers that this business intends to be around for awhile and make good on the loan, and better yet, improving our quality of life.

economy South Dakotans

Nielson releases poll on economic confidence

l3wis 4Comments

South Dakota Voters Express Increasing Confidence in their Personal Economic Situation

In a February survey, when Nielson Brothers Polling asked South Dakota registered voters about their personal economic situation, 41 percent responded that they are “more confident” than they were at this time last year. 29 percent are “less confident,” and 30 percent answer “about the same.” These answers show a significant rise in confidence compared to the December 2011 NBP survey in which 23 percent said “more confident,” while 49 percent said “less confident,” and 28 percent said “about the same”.

When NBP asked for views on the national economy, respondents expressed a more modest increase in optimism. 57 percent of South Dakota voters describe the U.S. economy as “excellent” or “good,” compared with 54 percent in the December. More specifically, in the February NBP poll, 8 percent said the nation’s economy is “excellent,” 49 percent said “good, 30 percent said “fair”, and 13 percent said “poor.” In the December 2011 NBP Survey, 12 percent said “excellent.” 42 percent said “good,” 26 percent said “fair,” and 20 percent said “poor.”

Personally I still think we are in a strange holding pattern, and will be for awhile.

 

economy Sioux Falls

Hey, Turbak, there is a thing called ‘inflation’

l3wis 10Comments

Maybe I don’t know WTF I am talking about, but am I the only one that thinks this is happening because prices continue to rise?

Despite an uncertain national economy, city officials say Sioux Falls’ economy continues to gain strength, evidenced in part by steady sales tax growth above 4 percent the past several months.

City sales tax receipts ended the third quarter up 4.6 percent over the same period a year ago. That makes six consecutive months with year-to-date growth above 4 percent, according to the most recent sales tax information.

“Month by month, we continue to see improvements in our economic indicators here locally,” City Finance Director Tracy Turbak said.

While it is very nice to see tax revenue is up, that small percentage is telling me it has to do with inflation. When the economy hit rock bottom last year, there was actually deflation, which resulted in revenue being down. You should always be at a positive, even when there is a recession due to increasing prices and costs.

Councilman Dean Karsky said he’s optimistic the momentum will continue through the end of the year, especially on the brink of the holiday shopping season.

Thanks Dean for that valuable information. Who knew? Is there anything you would like to share with us about the Easter Bunny?

 

economy

The rich get richer and the poor get poorer

l3wis 14Comments

Get used to it. I have always contended that the rich in SD are using the recession to pay less in wages while lining their pockets. They say the economy is doing good when they want you to buy their goods and services but when you ask for a raise, they say it is going poorly. Just look at the numbers;

South Dakota’s per capita personal income grew by 3.5 percent from 2009 to 2010, according to data recently released by the Bureau of Economic Analysis.

Sounds great right? But look at these numbers;

For example, Nesiba said, median household income in South Dakota has dropped 11.5 percent from 2008 to 2010, according to U.S. Census Bureau figures.

Basically the working stiffs are taking it in the shorts and the rich taking your shorts.

That’s a change from $51,600 in 2008 to $45,669 last year, Nesiba said.

“Even if the average per capita income in South Dakota is going up, those gains must be concentrated at the top,” he said. “What we’re seeing is that South Dakota per capita personal income is being boosted by higher farm incomes, but because of layoffs, lower wages and fewer hours, the median household income is actually falling.”

 

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