Elevate Rapid City, a non-profit community and economic development organization, has awarded $200,000 in childcare assistance loans to three local childcare providers. This will result in approximately 150 additional childcare spots for the community. The recipients of the loans are:
The purpose of the childcare assistance loans is to build more capacity for childcare in the Rapid City community, which will in turn, support the workforce. The lack of accessible and affordable childcare options has been a barrier for many families in the community, particularly for those with young children. By investing in these childcare facilities, Elevate Rapid City hopes to help alleviate some of the burden for families and ultimately strengthen the local economy.
"Childcare is essential infrastructure for working families," said Lori Frederick, senior economic development director of Elevate Rapid City. "Our investment in these daycare centers is an investment in our community's future. We are proud to support these businesses and help them expand their services to meet the growing demand for quality childcare."
The loans were awarded after a competitive application process that evaluated each daycare center's business plan and financial projections. The recipients were selected based on their ability to expand their capacity and provide high-quality childcare services to the community.
“These new classrooms will allow us to support low-income mothers who want to work and need dependable professional childcare,” said Bruce Long Fox, executive director of Rural America Initiatives. “By working, they’ll be able to provide food, clothing, and rent for their children, thereby impacting the future of our community.”
Erika Huemiller, director and soon-to-be owner of Little Treasures Daycare & Preschool added, “Childcare is an ever-growing need, and one that does not always allow room for increased income, wages for teachers, and the ability to keep up to date with the best equipment for children. Loans like the one provided by Elevate Rapid City will allow Our Little Treasures to put money into each area to provide an even greater environment for all kids without raising costs for parents.”
The childcare assistance loans are just one of the many ways Elevate Rapid City is working to promote economic development and support the community. By investing in childcare, Elevate Rapid City hopes to create a stronger, more vibrant community for everyone.
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Elevate Rapid City was established in 2019, merging the Chamber of Commerce and Economic Development organizations to lead the economic development and small business efforts in the Black Hills region.