South Dakota Trade Association

The South Dakota Trade Association, operating as South Dakota Trade, is a nonprofit organization categorized as a business league under the U.S. tax code. It was established to enhance South Dakota's competitiveness in the global economy, particularly by facilitating international trade for businesses within the state.

Purpose and Programs

South Dakota Trade serves as a resource for businesses looking to expand their overseas markets. It offers several key programs to achieve this goal:

• Free and Confidential Consulting: Businesses receive expert advice on exporting goods and services.
• Trade Missions and Reverse Trade Missions: Facilitating international trade missions helps businesses establish new markets and connections.
• State Trade Expansion Program (STEP) Grants: These grants support small and medium-sized companies in their export endeavors.
• Export Seminars and Courses: Educational programs enhance companies' readiness and capabilities for international trade.

Structure and Funding

The organization is structured with an eight-member board of directors overseeing its activities. It operates as a public-private partnership, receiving funding from various local businesses, trade associations, economic development organizations, the University of South Dakota, and the Governor's Office of Economic Development.

Financial Overview

As of recent filings, the organization has reported significant revenues from contributions, which constitute a major portion of its income. It also generates revenue from program services and other sources. Notably, donations to the organization are not tax-deductible, as it is classified as a 501(c)(6) nonprofit.

Leadership and Governance

The organization is led by President and CEO Luke J. Lindberg. Other key figures include members of the board of directors and the steering committee, which comprises influential individuals from various sectors, including business, agriculture, and government. Key members of the board and steering committee include representatives from the Greater Sioux Falls Chamber of Commerce, the University of South Dakota, and the Governor's Office of Economic Development.

Public Impact

South Dakota Trade plays a vital role in supporting the state's agricultural and manufacturing sectors by providing resources that help businesses navigate complex international trade environments. This support is crucial for expanding existing trade operations and paving the way for new entrants into the global market.