The South Dakota Technology Business Center is an important component in an on-going effort to diversify and grow the regional economy by assisting in the creation and expansion of technology-based businesses in the Sioux Falls area.
The SDTBC is a direct result of the Forward Sioux Falls Technology Program started in April of 1999 and chaired by Dave Link of Sanford Health. With the active participation of more than 200 community, education and business leaders as task force members and study participants, the FSF Technology Program crafted a strategy to establish the Southeast Technical Institute and University Center area as a nexus for education, research and business development. These efforts continue as the community tries to gain support for a Research Park near University Center.
Multiple public and private organizations partnered to fund construction of the Technology Business Center, reflecting the broad-based support for this exciting economic development initiative. The support for the Technology Business Center mission continues. In 2007 the Economic Development Administration, a branch of the US Department of Commerce, awarded SDTBC a $1.2 million grant to renew the technology infrastructure and build a 7000 sq. ft. expansion to the facility. The expansion project was completed in 2009.
FSF IV Funds – $1,000,000
HUD/VA EDI Grant – $800,000
Sioux Falls Area Chamber of Commerce – $380,000
Sioux Falls Development Foundation – $680,000
South Dakota Land Company – $700,000
State of South Dakota – $1,800,000
Economic Development Administration – $1,240,000
In the first five years of operation the Technology Business Center graduated nine companies and its graduate and client companies created over 329 quality jobs in the Sioux Falls area. Our facility fosters an environment for creative thinking and problem solving for companies and their employees. We offer regular opportunities for networking, learning and sharing for company CEOs, management teams and employees.
The South Dakota Technology Business Center continues to offer entrepreneurial support to its clients, graduates and members of the Innovation Network and is working to build the knowledge community in the Sioux Falls area. SDTBC also provides incubation and technology services to businesses located in the GEAR (Graduate Education and Applied Research) Center adjacent to the new University Center Campus and to tenants of a multi-tenant building for Technology Business Center graduate companies located just west of the Technology Business Center. Future plans include the development of more technology and research opportunities at a Technology and Research Park near University Center.
Forward Sioux Falls is the successful joint-venture economic development partnership between the Sioux Falls Area Chamber of Commerce and Sioux Falls Development Foundation. Forward Sioux Falls began its fifth phase in 2005, with goals that include workforce development; business retention and expansion; new business development; technology development; business leadership and advocacy; and preservation and enhancement of the excellent quality of life in Sioux Falls. The Forward Sioux Falls V program has assisted in funding the South Dakota Technology Business Center.
The mission of the Sioux Falls Area Chamber of Commerce is to represent its 2,900 members by advancing and promoting the economic health and quality of life of the region. The Chamber strives to achieve this by being a central force in the greater community and a place where local businesses can access resources and interact with other members of the business community. In 2009 the Chamber launch a new group focused on involvement by young professionals in the area. The new YPN (Young Professionals Network) has become very popular and is a great venue for many of the young entrepreneurs establishing their businesses at the South Dakota Technology Business Center.
Since the 1950s, the Sioux Falls Development Foundation (SFDF) has been the central force for economic development in our region. Today, the group administers first-class industrial parks, provides information and services for growing and relocating businesses and coordinates economic development strategies for a strong future for the Sioux Falls area.
South Dakota boasts the number one business climate in the nation. The mission of the Governor’s Office of Economic Development is to grow the South Dakota economy and create quality jobs; providing support to entrepreneur’s as well as established businesses.