RAPID CITY | The Rapid City Economic Development Partnership is celebrating myriad major projects that contributed to the strongest construction year for the city on record.
Among the major projects at or near completion are Black Hills Energy’s new $70 million multi-state corporate headquarters at Horizon Point, Black Hills Federal Credit Union’s near-$19 million corporate offices on North Plaza Drive, Regional Health’s new $55 million orthopedics and sports medicine facility at Buffalo Crossing, and RPM Innovation’s new $7.35 million building, at 500 Turbine Drive off Elk Vale in the Rushmore Business Park.
“There are developmental benefits to all of these big projects,” said Benjamin Snow, president of the Rapid City Economic Development Partnership. “The story of Black Hills Federal Credit Union and Black Hills Energy speak to our community’s continued expansion, each entity leaving a smaller shell to move into a larger one. I like to refer to as the hermit crab concept. The same thing has happened with all of the car dealerships who have relocated to exit 60 on the freeway.
“For us, it’s actually a good thing in the big picture because it represents growth, allowing other organizations to move into those vacated downtown locations,” Snow added. “These provide opportunities for someone to move into larger downtown facilities and they represent overall economic growth in the community. It just so happens that downtown Rapid City has experienced a renaissance over the past 10 years and this is the new wave in improvements with new tenants moving to these sites.”
Construction on Black Hills Energy’s new headquarters, located at 7001 Mount Rushmore Road, began in fall 2015, and consolidated employees from five separate locations in Rapid City to its new facilities. Since 2005, the company has added more than 300 corporate support jobs, and currently serves 1.25 million electric and natural gas customers in eight states.
According to Black Hills Energy, the new 225,000-square-foot building will accommodate some 750 employees, but is designed with the option of adding a third wing in the future.
Construction continues on Black Hills Federal Credit Union’s new corporate headquarters in Fountain Springs. The project began in June and, when completed in 2018, the 110,000-square-foot, three-story addition will provide office space for the credit union’s support services.
Regional Health’s new 114,850-square-foot Advanced Orthopedics and Sports Medicine Institute at Buffalo Crossing broke ground in June and remains under construction. The 10-acre site is located at the southeast corner of U.S. Highway 16 and Catron Boulevard and the new facility will enhance athletic and sports performance while promoting and restoring the physical abilities of patients, according to Regional Health.