The Governor’s council of economic advisors is projecting moderate growth for the state’s economy. Lt. Governor Matt Michels says the council projected strong growth in tourism due to gas prices. However, he says this growth may be offset by a downturn in the agricultural industry. Michels says the council projects around 3 to 4% growth in in sales tax revenues for the next fiscal year. He says one challenge that South Dakota’s economy faces is a growing workforce shortage.
"I met with three organizations yesterday and this was the top issue," says Michels, "We don’t have enough bodies - we could put this addition on, we could have more performance, we could take more contracts - if we had the individuals."
Michels says the state is working to combat this labor shortage through several initiatives. A new program would provide scholarships to students entering technical institutes in high need careers. The Build Dakota Scholarships are partly funded by the state and partly funded by a donation from T. Denny Sanford.