Elevate Rapid City

What Elevate Rapid City does

Elevate Rapid City is a private, non-profit economic development organization formed in 2019 through the merger of the Rapid City Chamber of Commerce (founded 1886), the Rapid City Economic Development Partnership (1990), and Ascent Innovation (formerly Black Hills Business Development Center, 2006). Headquartered in the 40,000-square-foot David Lust Accelerator Building at 18 E. Main Street in Rapid City, South Dakota, it operates as a public-private partnership serving as the sole combined chamber, development, and innovation organization for western South Dakota and the Rapid City MSA (population 154,841). The organization serves small and medium businesses, prospective relocating companies, regional manufacturers, employers, aspiring leaders, and young professionals across multiple industries including manufacturing, healthcare, technology, finance, and agriculture.

The organization's portfolio combines a physical incubator (David Lust Accelerator Building housing tenants such as Sanford Underground Research Foundation and Daktronics), structured programs (Elevate Leadership Institute at $2,000-$2,500 per participant for ~24 annual seats, TechForge startup mentorship leveraging NSF I-Corps and FAST Launch, the Elevate Incubator that has graduated 25 companies creating 400+ jobs), and member services (548-member directory, Market Research Center, Job Board, Ribbon Cutting Services, YPG at $80/yr, monthly Economic Indicators Reports, Housing Dashboard, and grants/loans programs including Downtown Façade, Microloan, Seed Fund, and Business Support Services). Underlying technology consists of standard office productivity tools (Microsoft Office 365, email, website member portal); there are no proprietary AI, ML, or software products.

Revenue mechanics rest on a tiered membership/investor dues model, supplemented by per-event fees (Critical Issues Luncheons at $25/$40, Centennial Summit at $250), Leadership Institute and YPG tuition, small business lending interest and program fees, and public/private grants (including a $100,494 EDA award in November 2023). Distribution is sales-led and direct, organized around dedicated directors for business retention and expansion (Kallie Ruland), workforce development (Taylor Davis), public policy (Garth Wadsworth), marketing (Shiloh Francis), and partnerships such as Ellsworth Air Force Base SkillBridge, the South Dakota Governor's Office of Economic Development, and the Black Hills Manufacturing Alliance.

Name

Elevate Rapid City

Legal name

Elevate Rapid City

Website

https://elevaterapidcity.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Elevate Rapid City is a non-profit public-private partnership formed in 2019 that combines chamber, economic development, and innovation functions to serve 548 member businesses, manufacturers, and prospective companies in the Rapid City and western South Dakota region through programs, a 40,000 sq ft accelerator facility, and advocacy.

Ownership category

akta.pro rank

Product category

Economic Development Services

NAICS

Administration of Housing Programs, Urban Planning, and Community Development (925), Administration of Urban Planning and Community and Rural Development (925120)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Economic Development & Business Licensing (Local) (BPAIACAN)

akta.pro secondary industry

Smart Cities & Urban Innovation Programs (Digital Planning, Civic Tech for Cities) (BPAIANAJ)

Keywords

• Economic development services
• Business attraction support
• Workforce development programs
• Small business incubation
• Chamber of commerce services

Headquarters

HQ city

Rapid City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Membership/Investor Dues: Elevate Rapid City operates as a membership-based organization with investors categorized by investment level. Members receive benefits including networking, marketing visibility, business education, advocacy representation, and community involvement opportunities.
2. Event Revenue: Revenue generated from event registrations including Critical Issues Luncheons ($25 investor / $40 non-investor), Centennial Summit ($250 attendee), and various networking events.
3. Leadership Institute Tuition: The Elevate Leadership Institute charges $2,000 for investors and $2,500 for non-investors. Some financial assistance is available.
4. Young Professionals Group Membership: YPG membership is an $80 annual fee providing free and discounted attendance to YPG events.
5. Small Business Lending Programs: Downtown Façade Loan Program, Microloan Program, Seed Fund Program, and Business Support Services Program provide small business financing. Revenue may come from loan interest and program fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Elevate Rapid City is a regional economic development organization operating as a merged Chamber of Commerce, Economic Development Partnership, and Innovation hub. It provides business attraction, retention and expansion services, workforce development, leadership training, small business incubation, market research, and pro-business public policy advocacy for the Rapid City and western South Dakota region. The organization generates revenue primarily through investor membership dues, program fees, events, and small business lending programs.

Product overview

Elevate Rapid City is an economic development organization offering a portfolio of programs, services, and facilities rather than a unified software product. The core offerings include the Elevate Leadership Institute for leadership development, TechForge for startup mentorship, and the David Lust Accelerator Building as a physical co-working and incubator facility. Supporting services include a Market Research Center providing custom reports, a Job Board platform for employers and job seekers, Ribbon Cutting Services for business celebrations, the Young Professionals Group for networking, Economic Indicators Reports and Housing Dashboard for market intelligence, Grants and Loans Programs for business financing, the Black Hills Manufacturing Alliance for industry collaboration, and the SkillBridge Program connecting military personnel with civilian careers. These offerings work together to support economic development, workforce development, and business growth in the Rapid City and Black Hills region.

Differentiator

Problem solved

Functional benefit

Brands

• Elevate Leadership Institute: Leadership development program cultivating leadership qualities and perspectives for community members
• TechForge
• Young Professionals Group (YPG)
• Elevate Foundation
• Black Hills Manufacturing Alliance (BHMA)
• David Lust Accelerator Building

Products and services

• Elevate Leadership Institute

Quantifiable outcome

• Graduated 25 companies creating over 400 jobs through Elevate Incubator
• +3 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• Black Hills Manufacturing AlliancecoreStrategic or Co-development Partner · 1 January 2023Founded in 2023 to build on the region's growing momentum in manufacturing. Supported by Elevate Rapid City, BHMA connects manufacturers across Western South Dakota, fostering collaboration, innovation, and growth. Members represent industries including military/defense, chemicals, construction materials, and precision products. Meets quarterly to address key manufacturing sector issues.
• Ellsworth Air Force BasecoreStrategic or Co-development PartnerDoD SkillBridge program partnership connecting transitioning service members with civilian career opportunities. Elevate serves as umbrella organization for local companies to host SkillBridge interns without full DoD registration.
• International Economic Development Council (IEDC)flagshipStrategic or Co-development PartnerCo-hosting the Centennial Summit: The Future of Economic Development (July 13-14, 2026) celebrating IEDC's 100th anniversary, America's 250th, and Rapid City's 150th. Summit features plenary sessions, breakout discussions, networking, and regional tours.
• Southwest Initiative FoundationflagshipStrategic or Co-development PartnerCo-hosting the Centennial Summit: The Future of Economic Development alongside IEDC and Elevate Rapid City. Regional gathering celebrating economic development milestones.
• Microsoft TechSparkminorStrategic or Co-development PartnerProgram supported by Elevate Foundation connecting small businesses with technology. Part of foundation's initiatives in workforce development, economic development, and entrepreneurship.
• South Dakota Governor's Office of Economic DevelopmentcoreStrategic or Co-development PartnerPartnership for financial support and business attraction. GOED provides state-level economic development resources while Elevate delivers local/regional services including permitting support, public policy advocacy, and workforce solutions.
• Black Hills Area Community FoundationminorStrategic or Co-development PartnerPartner in housing initiative working with area partners including City of Rapid City and John T. Vucurevich Foundation to address workforce and affordable housing needs in Rapid City and Black Hills Region.
• John T. Vucurevich FoundationminorStrategic or Co-development PartnerPartner in housing initiative addressing workforce and affordable housing needs in Rapid City and Black Hills Region alongside Black Hills Area Community Foundation and City of Rapid City.
• Hiring Our Heroes Military Spouse Professional NetworkminorStrategic or Co-development PartnerPartnership through DoD SkillBridge and military engagement initiatives to connect employers with quality military-affiliated talent including transitioning service members and military spouses.

Scale indicators9 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Greater Sioux Falls Chamber of Commerce: South Dakota's largest regional chamber + economic development hybrid, serving the Sioux Falls MSA with business attraction, retention, and workforce programs comparable to Elevate Rapid City's mandate. Closest functional peer within the same state.
• Sioux City Area Chamber of Commerce: Regional chamber for a border metro (Iowa/Nebraska/South Dakota tri-state area) combining chamber services, economic development, and workforce initiatives - directly analogous in scope to Elevate Rapid City.
• Bismarck-Mandan Chamber of Commerce: Combined chamber + economic development organization serving a mid-sized Plains state capital region, with workforce attraction programs and pro-business advocacy comparable to Elevate's portfolio.
• Cheyenne Chamber of Commerce / Cheyenne Leads: Wyoming capital-region chamber/economic development hybrid with business attraction and defense-related workforce programs (FE Warren AFB), structurally similar to Elevate Rapid City including its AFB workforce pipeline role.

Regional players

• Wyoming Business Council: Wyoming's state-level economic development agency that Elevate partners with at the local level; serves as the analog of South Dakota GOED in Wyoming and competes for similar member/employer relationships in the region.
• South Dakota Governor's Office of Economic Development (GOED): State-level economic development counterpart that Elevate Rapid City partners with for financial support and business attraction; not a competitor per se but operates overlapping programs (incentives, attraction, workforce grants) at a different jurisdiction.
• Forward Sioux Falls: Multi-year economic development partnership for the Sioux Falls MSA that pools investor capital for business attraction and talent development, serving as a South Dakota comparable for Elevate's investor-tier economic development model.

Emerging players

• Startup Sioux Falls: Innovation/entrepreneurship support organization in South Dakota's largest metro; partially comparable to Elevate's TechForge mentorship and David Lust Accelerator programming, but not a full chamber/EDO.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@rapidcityyoungprofessional3409
• Facebookfacebook.com/ElevateRapidCity
• Instagraminstagram.com/rapidcityypg
• Xx.com/Elevate_RC
• LinkedInlinkedin.com/company/elevate-rapid-city

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elevate Rapid City