ABERDEEN, S.D.(HubCityRadio)- The Aberdeen Development Corporation hosted a Regional Business Symposium on Monday at Northern State University. Feature speakers address several different topics.
Property Taxes:
In 2024, over 1.8 billion dollars came from property taxes. South Dakota Retailers Association Executive Director Nathan Sanderson talks about how property taxes are used.
Sanderson talks about how property taxes are determined.
Sanderson described three ways property taxes could be lowered. The first deal with making cuts on the county level.
The second way is funding are distributed from elsewhere.
The third way is to increase other taxes that could lead to lower property taxes.
One constitutional amendement that is being considered is replacing property taxes with a transaction tax. Sanderson reacted to that idea.
Economic Development:
Mike Bockorny, CEO, Economic Development Professional Association of South Dakota, talks about AI(Artificial Intellegence).
Bockorny talks about data center which will need the power to run AI.
Bockorny also looking for ways to make South Dakota more open for new businesses than what’s been seen the past few years.
Kyle Peters with A-1 Development talks about the need to expand agriculture in the state.
Peters talks about agriculture looking to make a comeback over the past ten years.
Peters compare the soybean industry out in Mitchell.
Peters talks about Gemini Family Office who working on a data center near the Sioux Falls area.
ADC is planning another business friendly event coming up on November 17th.
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