2023 GOED Conference
SIOUX FALLS, S.D. – Business is booming across South Dakota. This week, the state had 10 businesses named to the annual Inc. 5000 list of fastest-growing private companies in the nation.
These companies didn’t just expand, some have grown exponentially. According to the website, Inc.com, the companies represented on the list had a median growth of 239 percent with industry revenue hitting over $283 million, all while adding 330 jobs. Four of the companies are repeat honorees.
“Congratulations to these businesses and their employees on being recognized for their success and growth. These companies are winning and elevating South Dakota on the national stage as the premier place to start and grow a business,” Governor Kristi Noem said. “It’s the hard work of businesses all across our great state that have elevated us to number one in the country for economic recovery. These businesses and so many others deserve to be recognized for their success.”
Topping the list for South Dakota and coming in at 129th overall was SAB Biotherapeutics of Sioux Falls with a growth of 3,121 percent in the health industry. The company, a biotech business, develops immunotherapies using human polyclonal antibodies. Roodle, the state’s second fastest-growing company, came in at No. 209 with a 2,130 percent growth. The Hartford-based company supplies vanilla products and vanilla beans with origins from around the world.
Coop’s Pretzels, which grew by 716 percent, was No. 680 on the list. The Sioux Falls company provides seasoning and packaging of snacks to companies around the U.S. In addition, Black Hills Exteriors grew by 316 percent. The contractor specializes in insurance claim restoration and maintenance-free exterior remodels, including roofs, siding, windows, and gutters. MarketBeat, a financial company in Sioux Falls, grew by more than 300 percent.
Rounding out the list was Filly Flair which grew by 163 percent, Sioux Falls Tower Specialist (VIKOR), at 140 percent growth, Weisser Distributing with 131 percent, N2 Communications at 96 percent, and Epicosity at 65 percent.
VIKOR CEO Craig Snyder said that the company, in business for the past 32 years, has grown considerably in the last few years. He explained that the Governor’s Office of Economic Development (GOED) helped VIKOR with financing when they transitioned from a much smaller facility, 10,000 square feet, to their current one, which is two and a half times larger.
With growth of 140 percent, Snyder said that means hiring a lot more employees and serving a lot more customers. He noted that because they serve the tele-construction industry, it means connecting a lot more people.
“South Dakota is a great state to do business,” Snyder said, adding, “It promotes business, encourages strong employment and has a lot of people who are interested in working and who have a great work ethic.”
GOED Commissioner Steve Westra applauded the companies on this year’s list, including the four repeat honorees – MarketBeat, VIKOR, Weisser Distributing, and N2 Communications.
“I am so happy these businesses and so many more, have chosen to make South Dakota their home,” Westra said. “We have a great state to live and work and these numbers prove why South Dakota is the best place in the nation to do business.”
The complete roster of companies on the Inc. 5000 list may be viewed here.