Vermillion is a city in and the county seat of Clay County, in the southeastern corner of the state of South Dakota, and the eleventh largest city in the state. According to the 2010 Census, the population was 10,571. The city lies atop a bluff near the Missouri River.The area has been home to various Native American tribes for centuries. French fur traders first visited in the late 18th century. Vermillion was founded in 1859 and incorporated in 1873. The name refers to the Lakota name: wa sa wak pa'la. Home to the University of South Dakota, Vermillion has a mixed academic and rural character: The university is a major academic institution for the state, boasting the state's only law and medical schools, and the state's only AACSB accredited business school. Major farm products include corn, soybeans, and alfalfa.