RAPID CITY, S.D. – Elevate Rapid City released their Vision Fund project plans for the new cycle, receiving $3 million to invest in a new five-year plan for city growth.
The previous plan was also partially funded by a 2019 grant, bringing over 5,000 jobs to the area with incomes going up 25 percent over the last five years. This new plan expands their previous strategy.
“A certain amount of growth is a good thing. We’re not trying to be Denver or a fast-growth community that can’t control your growth,” Elevate Rapid City C.E.O and President Tom Johnson said. “We’re trying to keep those things that we value here as South Dakotans and Rapid City residents. But also give opportunity for those who want to stay here.”
Their goals for the next five years are building on the first: bring in at least 5,000 more jobs to the area, establish another 15 percent increase in total income, increase capital expenditures to $400 million and consumer spending to around $200-250 million.
“It’s really to get the support we need to do economic development, workforce development, public policy and business advocacy, along with entrepreneurship. And our marketing and communication is to make sure that we can accomplish that mission,” Johnson said. “So, we set our last year goals pretty high, and we’re setting our new five-year’s goals pretty high as well. From 2023 through ’27, our goals are probably going to be about 25 percent higher.”
Elevate Rapid City received $2 million during the previous Vision Fund cycle.
Looking for more news and information? NewsCenter1 Media Group has you covered go to NC1.TV today for all of your Western South Dakota and Wyoming news today.
