Agenda Item Title:
Authorize the Mayor to sign a letter of support for Elevate Rapid City’s Tech Hub grant. The grant is through the U.S. Economic Development Administration for a Regional Technology and Innovation Hub.
Origination Group:
Legal & Finance Committee
Origination Meeting Date:
07/12/2023
City Council Hearing Date:
07/17/2023
Staff Contact:
Jamie Toennies, Grants Division Manager
Agenda Item Summary:
The Tech Hubs Program is an economic development initiative designed to drive regional technology- and innovation-centric growth by strengthening a region’s capacity to manufacture, commercialize, and deploy critical technologies. This program will invest directly in regions with the assets, resources, capacity, and potential to transform into globally competitive innovation centers in approximately 10 years while catalyzing the creation of good jobs for American workers at all skill levels, both equitably and inclusively.
Why is it important for the city: Over the past six years, the City has supported and helped accommodate the innovation district including the development of the David Lust Accelerator Building and a new zoning district to help accommodate technology and mixed-use facilities in the downtown core, near the SD School of Mines. This grant will continue to grow that effort and position Rapid City as an innovative leader in the U.S.
This is a consortium project that the city will join. The other partners include SD Mines, SD Dept. of Labor, industry partners in fields like engineering, Sanford Underground Research Facility and others.
No direct fiscal impact to city budgets, all work will be incorporated into current responsibilities.
Funding Source & Fiscal Impact (if applicable):
Funding | Cost Center |
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Recommendations:
Origination Recommendation Action:
Approve