Business is better for biomedical companies in Sioux Falls. We are already home to two top-ranked hospital systems and growing companies like CIGNA and MedVantx, Inc. Our technical colleges and universities, including the Sanford School of Medicine of The University of South Dakota and the South Dakota State University College of Pharmacy, provide a steady stream of professionals to area companies and hospitals. These assets, along with other advantages like our tax-friendly climate and efficient transportation system, give biomedical companies in our region a leg up on the competition.
Cutting-edge research and development at Avera Health and Sanford Health are taking aim at some of the world's most difficult diseases. The Sanford School of Medicine alone attracts $17 million annually in research funding. In addition, the Graduate Education and Applied Research (GEAR) Center in Sioux Falls provides a collaborative environment where universities and colleges, government agencies, small businesses, and industries with related interests can search for innovative solutions to relevant problems and encourage entrepreneurism. In specialized spaces such as clean rooms, dark rooms and cell and tissue culture suites, researchers are developing technologies for new biomedical/biological devices, materials, processes, and services. GEAR also provides a training ground for the state's high technology workforce.
Mail-Order Pharmaceuticals companies like CIGNA Home Delivery Pharmacy, and MedVantx, Inc. have found the region to be a fertile ground for growth and development, thanks in part to the steady supply of top-level pharmacists graduating from the South Dakota State University College of Pharmacy. The SDSU Pharmacy program has the distinction of being one of only 6 programs in the US whose graduates achieve a 100 percent passing rate for first-time candidates taking the North American Pharmacist Licensure Examination. The region´s crossroads location, central time zone and exceptional transportation infrastructure also contribute to the success of these companies.
Medical device manufacturers like BioMed Corporation, Dignity Medical Services, and Electronic Systems, Inc., have found Sioux Falls to be a cost-effective and profitable location. In addition to being centrally located among other major national biotech centers, including Omaha, Denver, Minneapolis and Chicago, Sioux Falls medical device manufacturers have access to a highly educated, well-trained, productive, and growing workforce.
The cost of living is better in Sioux Falls, thanks in part to no personal income tax, low real property and sales taxes, affordable housing and utility costs, and a favorable climate. The overall cost of living is 6% lower than the national average.Read More