SDSM&T one step closer to new business development center

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RAPID CITY, S.D. -

The latest on a downtown plot of land wanted by the Economic Development Foundation as a business development center for graduates of the South Dakota School of Mines and Technology.


Oct. 16

At a Rapid City Common Council meeting Monday night, council members declared the property at 108 East Main St. a surplus. The next step is the gifting of the property to the School of Mines. 

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Oct. 9

If the Rapid City Common Council approves a gifting of a 4.3 acre lot downtown to the Economic Development Foundation, South Dakota School of Mines and Technology graduates may have a space to start their own business.

Officials hope the land at 108 East Main St. which is currently an empty lot adjacent to the 24/7 building with a small warehouse on it, can be converted into a new technology and business innovation center. There, students can set up businesses, and existing tech companies can set up shop in Rapid City.

Map courtesy: Rapid City Mayor's Office 

Mayor Steve Allender said on Friday that the School of Mines, which lies just down the street, and the Sanford Lab in Lead have the potential to attract numerous tech and science companies. He also stressed how important it is to keep School of Mines graduates in South Dakota. As it stands, many students find work out of the state after graduation.

“We'll utilize [the] space in the highest and best use of that land," Allender said," So what better way to use city land than to create good paying jobs, to attract other businesses to town, and to create a deeper more meaningful relationship with the School of Mines,” said Mayor Allender.

Rapid City taxpayers will not see a rise in taxes nor will revenue be collected from them. The space is already owned and operated by the city. Although the city council would have to vote on whether to lease or gift the property to the Economic Devolopment Foundation, the mayor said the city will see progress on the plot of land “very soon.”

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