Rapid City is thriving, but growth comes with challenges. At Elevate Rapid City, we understand that businesses—whether small startups or established enterprises—face obstacles in workforce recruitment, infrastructure needs, and access to capital. That’s why our Business Retention & Expansion (BRE) program is designed to support local businesses by identifying barriers to growth and connecting them with critical resources.
In 2024, our team met with 125 businesses across key industries to listen, strategize, and take action. Through these efforts, we facilitated 16 business expansions and helped create 109 new jobs, reinforcing Rapid City’s position as a dynamic business hub.
If your business is looking to grow, facing operational challenges, or seeking opportunities, Elevate Rapid City is here to help. Read on to learn how we’re addressing key business concerns—and how you can leverage these resources for success.
Key Findings & Challenges
Workforce Development
A significant percentage of businesses reported workforce recruitment, retention, and skill gaps as primary concerns. Elevate Rapid City’s workforce team works closely with educational institutions and workforce development programs to create talent pipelines, offer training resources, and connect businesses with skilled workers. We encourage businesses to complete a workforce assessment to better understand labor market trends and access customized solutions.
Infrastructure & Property
Many business owners have expressed the need for expanded industrial and commercial space to accommodate growth. Limited available space poses a challenge, particularly for manufacturing and large-scale operations. To address this, Elevate Rapid City is actively collaborating with regional partners to identify land for development and increase the availability of move-in-ready facilities. If your business is in need of space, reach out to explore potential solutions.
Access to Capital
For small and mid-sized businesses, financial resources are crucial for scaling operations. Many business owners cited challenges in securing funding for expansion. Elevate Rapid City has helped businesses connect with low-interest loan programs, grants, local lenders, and financial education resources. We continue to expand financing initiatives to ensure businesses have the capital needed to thrive.
Achievements & Impact
Elevate Rapid City’s proactive support for local businesses has yielded measurable success in 2024:
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16 business expansions facilitated
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109 new jobs created
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$7,196,474 in total capital expenditures supported
Through direct engagement, we’ve provided market expansion resources, data-driven insights, and access to funding opportunities. These efforts have strengthened the local economy and positioned Rapid City businesses for long-term success.
Opportunities & Strategic Focus for Next Year
Looking ahead, Elevate Rapid City will continue to prioritize workforce solutions, infrastructure development, and business support initiatives. Our key focus areas for the coming year include:
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Expanding and improving access to business financing opportunities.
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Strengthening supply chain networks to help local businesses source materials and services efficiently.
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Advocating for infrastructure improvements, including transportation, broadband, and utilities, to support business operations and expansion.
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Providing resources and training to enhance business resilience, sustainability, and adaptability in a shifting economic landscape.
Rapid City’s business community is growing, and Elevate Rapid City is committed to ensuring that growth is sustainable, strategic, and inclusive.
Get Involved: Let’s Work Together to Elevate Your Business
If your business is facing challenges or considering expansion, we want to hear from you. Our team is here to provide guidance, resources, and direct connections to help your business succeed. Contact our Business Development Manager, Kallie Ruland, to schedule a meeting and explore opportunities tailored to your business needs. Click here to email Kallie.