Rapid City’s business landscape continues to evolve, creating new opportunities for employers across the region. Elevate Rapid City’s Business Retention & Expansion (BRE) program is designed to meet this momentum head-on, working directly with local businesses to identify growth opportunities, remove barriers, and connect them with the resources they need to thrive.

In 2025, our team engaged with 137 businesses across Rapid City to understand their priorities, challenges, and long-term plans. These conversations supported 21 business expansions and helped create 124 new jobs, reinforcing Rapid City’s position as a strong and competitive regional economy.

Business Insights from Rapid City Employers 

While every business has unique needs, several themes emerged across industries, especially among small and mid-sized employers which make up the backbone of our regional economy. A majority of Rapid City businesses employ fewer than 20 people, and the data reflects that in planning growth and long-term success.

Workforce & Talent

Employers continue to cite access to a skilled workforce as main concern also noting hiring, retention, and closing skills gaps.

Elevate Rapid City works with education partners, training programs, and workforce organizations to build talent pipelines and deliver customized guidance. Businesses are encouraged to complete a Workforce Assessment to access customized solutions and better understand labor market trends. Elevate Rapid City Workforce Assessment - Elevate Rapid City

Facilities & Growth Space

As many businesses plan expansions, the need for suitable industrial and commercial space remains a key barrier. Our team is actively collaborating with regional partners to identify development-ready land and expand the inventory of move-in-ready buildings. Businesses seeking space are encouraged to reach out to explore site selection options.

Capital & Financing

For small and mid-sized businesses, securing capital can be a challenge. Elevate Rapid City connects employers with loan programs, grants, lenders, and financial readiness tools while expanding financing options to support sustainable growth. We continue to develop and expand financing tools to ensure local businesses have access to the capital they need.

Market Access & Customer Growth

Many businesses are seeking opportunities to diversify sales beyond local and seasonal demand. Interest continues to rise in e-commerce, regional and national markets, global sales, and government contracting. We support businesses by identifying barriers, offering market insights, and helping them evaluate new growth opportunities.

2025 Results & Economic Impact

Through direct engagement and strategic support, Elevate Rapid City helped businesses move forward with confidence:

• 21 business expansions supported
• 124 new jobs created (avg. starting wage: $20/hr)
• $3.2 million in capital investment facilitated

Our Business Retention and Expansion (BRE) work also strengthened supply chains, improved access to resources, and empowered businesses with data-driven insights to support long-term planning.

Looking Ahead: 2026 Priorities

Based on ongoing feedback from local employers, Elevate Rapid City will continue to focus on removing barriers to growth and building a stronger, more competitive regional economy. Key priorities include:

• Strengthening workforce pipelines by deepening connections between employers and education partners
• Advancing industrial land development and increasing move-in-ready space
• Improving access to capital and expanding local financing tools
• Supporting infrastructure capacity in utilities, broadband, power, and transportation
• Increasing awareness of programs, incentives, and technical assistance
• Helping businesses modernize through technology adoption and operational improvements

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.

Together, we’ll continue elevating the Rapid City’s economy for all.