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South Dakota
Key Economic Indicators 
Item  Rate 
CPI: 0.1% (Jul 2017) 
GDP Growth:   2.6% (2ndQTR 2017)
Bank Prime Interest Rate:   4.25%
Consumer Confidence:  121.1% (Jul 2017) 
Small Biz Confidence:  105.2% (Jul 2017) 
Avg Gas Price:  $2.35 












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RFP (Request For Proposal)

A common means of obtaining proposals for a project is to issue an RFP (Request for Proposal) document.  This is how the government specifies its requirement and announce to the public that it is looking for an organization that can fulfill those requirements.

Statement Of Work (SOW)

The statement of work (SOW) is a document that provides details about the work to be performed for the contract.  It provides information such as the location of the work, the deliverable schedule, applicable performance standards, any special requirements (e.g., security clearances, travel, and special knowledge), and the period of performance.

It is provided to the vendor as part of the RFP.

RFI (Request For Information)

In some cases this is preceded by a Request for Information (RFI) document that asks interested parties to provide an initial indication of their interest. The RFP is then issued to the parties that are selected, in other words, it is a filtering process.


A Bid is an offer that the Vendor makes to the government stating how they intend to fulfill the requirement and how much it will cost.

Primary Contractor

The main contractor to whom the contract has been awarded.  This Contractor may in-turn hire other contractors (sub-contractors) to carry out the work.


A Contractor hired by the Primary Contractor to perform specific work on a project.

See More

Visit this link to see a glossary of procurement terms.


















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