HOME > Who are we   The State of South Dakota occupies an area of 77,047 square miles, enjoys a continental climate and is bordered by Minnesota and Iowa (east), Nebraska (south), North Dakota (north), and Wyoming and Montana (west).  South Dakota currently has a population of 755,010 with Sioux Falls (140,000), Rapid City (65,000), Aberdeen (30,000) and Watertown (25,000) being the largest population centers.  In 1889 South Dakota became the 40th state with Pierre as its capital. The region west of the Missouri River is occupied by large ranches; there cattle and sheep ranching provide the major source of income, with soybean and wheat farming second in the production of revenue.  In the more productive region east of the Missouri, livestock and livestock products are the primary sources of income.  Corn, soybeans, oats, and wheat are South Dakota's chief cash crops; sunflowers, sorghum, flaxseed, and barley are also grown. Agriculture is a cultural and economic mainstay, but it no longer leads South Dakota in employment or share of gross state product.  The diversified industries such as electronics manufacturing, in Sioux Falls and Rapid City, private services, meatpacking and food processing have evolved as the drivers of the economy.  Tourism focusing especially on Mt.  Rushmore and other Black Hills sites is also a booming industry in South Dakota, generating over a billion dollars' worth of economic activity each year.     South Dakota Department of Tourism and State Development (http://www.tsd.sd.gov/) is the economic development arm of the State of South Dakota. The agency is empowered and directed to promote economic development in South Dakota. The South Dakota Department of Tourism and State Development is made up of five divisions - Arts Council, Governor’s Office of Economic Development, State Historical Society, Tourism, and Tribal Government Relations. Each of these divisions plays an integral role in moving our state’s economy forward. Additionally, the Department of Tourism and State Development has three associated authorities - Ellsworth, Housing, and Science and Technology. The authorities work independently, but collaborate with the Department of Tourism and State Development to improve tourism, business development and quality of life. The Department of Tourism and State Development received Regional Center Designation pursuant to Section 610 of the Appropriations Act of 1993, on April 2004 for the purposes of attracting immigrant investor capital to the entire State of South Dakota except for the MSAs of Sioux Falls, Rapid City and the city limits of Aberdeen and Watertown. The Department of Tourism and State Development has a contract in place with SDRC Inc. for the purposes of having SDRC Inc. administer the South Dakota Regional Center and the EB5 program and to market the EB5 program for the benefit of South Dakota, all in conformity with applicable statues and regulations     SDRC Inc., established in late 2008, is the overarching management company that operates and manages the regional center on behalf of the SDTSD. Additionally, SDRC Inc. operates as the general partner for the South Dakota Investment Fund Limited Partnerships (EB-5 entities) to assure that the interest of the limited partners are met, including the creation of necessary job credits needed for the I-829 process and the repayment the loans. SDRC Inc., for SDIBI, typically enters into an agreement with a local commercial institution to handle all the loan closing and monitoring functions related to each project. Additionally, SDRC Inc. will engage public accountants and other professionals to protect the integrity of all projects. Finally, SDRC Inc. communicates with the EB-5 investors to assure that they obtain timely performance, tax and other data related to the investments. SDRC Inc. also manages the Regional Center’s overseas promotional activities including the relationships with overseas agencies to assure that EB-5 investors are recruited efficiently and ethically. This is accomplished through effective communications and contractual agreements. SDRC Inc. will work closely with SDTSD in selecting regional center projects that benefit the State of South Dakota and the EB-5 investors. This is accomplished with the assistance of local financial institutions, lawyers, accountants and other professional service providers.