South Dakota
Secretary of State Jason M. Gant
ECONOMIC REPORT 1st Quarter 2013 Issue Secretary’s Minute..………..….…1 Economic Indicators………..……2 Limited Liabilities Companies Continue to Lead Filings…..……3 The Secretary’s Spotlight……...4 Photo courtesy of South Dakota Department of Tourism
THE SECRETARY’S MINUTE It is my privilege to provide the public with the first quarter Economic Report for 2013. As reported in the last quarterly Economic Report, corporate filings continue to remain strong in South Dakota, with Limited Liability Corporations again taking the lead with approximately 54% of the filings in the first quarter of 2013. Total filings for the first quarter of 2013 are up 8.69% or 163 over the same time period in 2012. While the mid April snow fall caused a few problems for travelers and damage across the state, the agricultural community welcomed the much needed moisture. This, combined with the warming temperatures, makes us hopeful for a prosperous growing season. The moisture should also help tourism and outdoor recreation as South Dakota’s rivers and lakes continue to provide wonderful places for families and visitors to boat, fish, and camp throughout the summer. The walleye are biting in Pierre; have a great summer.
Economic Indicators At-A-Glance New Entity Filings
vs. prior quarter
vs. prior year
Corp. Annual Reports
vs. prior quarter
vs. prior year
Trademark Filings
vs. prior quarter
vs. prior year
Labor Statistics provided by the South Dakota Department of Labor and Regulation
SD Unemployment
vs. prior quarter
vs. prior year
SD Labor Force
vs. prior quarter
vs. prior year
NonFarm Wage and Salary Employment
vs. prior quarter
vs. prior year
New Corporation Filings Continue to Increase The upward trend in new filings continues, with a total of 2,038 new filings since January 1, 2013. Q3 2012
Q4 2012 1,958
1,577
Q1 2013 2,038
Limited Liability Companies Formation of Choice Limited Liability Companies continue to lead the way as the formation of choice for new entities, accounting for 4,722 of the 7,271 new filings in the past 12 months.
Filings by Category - March 2013 All Other Filings
LLC's 34%
66%
Three Year Comparisons – LLC’s Limited Liability Company formations continue to increase each year, with 85 more filings in March 2013 than March 2011.
Mar-11
690
695
700
705
Mar-12
710
715
Mar-13
720
725
730
735
740
Trademark Registration When registering your business for the first time, or doing an annual report, don’t forget to register a trademark for your business name and/or logo with the Secretary of State’s office. A Trademark is any word, name, or symbol intended to be used to identify and distinguish the goods/services of one entity from those of others. Although registration is not mandatory, it will protect your business from individuals wanting to use the same or similar business names and/or logos within the state of South Dakota. Registration filing fees are $125 per mark and is valid for a period of four (4) years. If your mark is already registered with the State of South Dakota, renewals can be completed up to six (6) months in advance by completing a renewal application and submitting to our office with the filing fee and sample of your mark. For more information visit our website: sdsos.gov or contact our Trademark Administrator at (605) 773-2797.