The latest episode of the Rapid City Business Journal podcast introduced Jack Valentine, the new president and CEO of Elevate Rapid City, who outlined his vision for economic development as the region prepares for significant growth tied to defense, technology and new business investment.
Valentine joined hosts Shiloh Francis and Murdoc just three weeks into his new position. Before taking the role, Valentine worked for the Governor’s Office of Economic Development, beginning as a loan officer in 2021 and eventually serving as operations division director. His background also includes service in the U.S. Marine Corps and a career in law enforcement.
Valentine said Rapid City is entering a period in which decisions made today could shape the community for decades. He pointed to the arrival of the B-21 at Ellsworth Air Force Base, the proposed innovation district, North Line Business Park and growth of the region’s defense industry as major opportunities.
“I feel strongly that the work that we do in the next three, five, 10 years is life-changing,” Valentine said. “It’s gonna be impactful for the next 50 years.”
The proposed innovation district could help create a more walkable downtown while providing space for technology, research and entrepreneurship. Valentine said Rapid City can capitalize on resources including the South Dakota School of Mines and Technology, Black Hills State University and Western Dakota Technical College to develop a stronger pipeline for cybersecurity, advanced technology and health care innovation.
North Line Business Park, meanwhile, is intended in part to give existing Rapid City companies room to expand. Valentine described plans for the 128-acre property north of Mall Drive as a mix of commercial, industrial, multifamily and retail development.
He also addressed speculation about the site, saying, “There are no data centers planned for the business park that I know of at current.”
Valentine said the larger challenge will be ensuring growth translates into living-wage jobs while addressing infrastructure, housing, water and energy needs. Rather than pursuing expansion simply for its own sake, he said the next five years should focus on “being meaningful and purposeful with that growth.”
For existing small businesses, Valentine said regional growth represents an opportunity to reach a larger customer base as Rapid City continues serving as a commercial hub for communities throughout the Black Hills.
