PIERRE, S.D. – Governor Larry Rhoden recently announced support for Elevate Rapid City’s development of a new business and industrial park in Rapid City with a $1 million award from the Future Fund.

“Strong communities don’t wait for opportunity. They prepare for it and take action,” said Governor Larry Rhoden. “By investing in development-ready sites today, we’re helping ensure Rapid City can compete for tomorrow’s jobs, businesses, and investments.”

Once complete, the business park will provide additional industrial and commercial sites for companies considering expansion or relocation to South Dakota. The Future Fund award will help finance the purchase of land and installation of public infrastructure needed to prepare the property. The project builds on a significant local commitment, including $1 million from Elevate Rapid City and donor funding.

As part of the agreement, Elevate Rapid City will prepare the property for full development, continue marketing the sites to prospective businesses, and provide ongoing progress reports to the Governor’s Office of Economic Development.