VERMILLION, S.D. – The South Dakota Small Business Development Center, an outreach program of the Beacom School of Business at the University of South Dakota, was a significant force in job development in 2016 helping to create or retain 1,434 jobs across the state. This data was reported in the recently published South Dakota Small Business Development Center annual report.
“The Beacom School of Business is so pleased to have the South Dakota Small Business Development Center as one of our outreach centers. We are committed to economic growth in the state of South Dakota and we can clearly recognize the impact SBDC makes with their clients as they grow and prosper,” said Venky Venkatachalam, dean of the Beacom School of Business.
The statewide network of business-assistance offices also helped 158 new businesses get started, and the offices’ efforts had a direct economic impact of nearly $264.2 million. As measured in the SBDC’s recently published annual report for 2016, economic impact includes capital investments, new and retained sales, and federal contracts and grants.
“2016 was an outstanding year for the network and its clients, including 2,218 new clients served last year,” said Jeff Eckhoff, state director of the SBDC.
“The South Dakota SBDC provides a solid return on taxpayer dollars,” Eckhoff said. “For every dollar of government funding, the network returns more than $510 to the state’s economy.”
The SBDC has regional offices in Aberdeen, Pierre, Rapid City, Sioux Falls, Watertown and Yankton, and satellite offices in Brookings and Mitchell. Other offices and programs in the network include the Small Business Innovation Research program, South Dakota Manufacturing & Technology Solutions, South Dakota Procurement Technical Assistance Centers, South Dakota International Trade Center and the Enterprise Institute. The U.S. Small Business Administration and the Governor’s Office of Economic Development are among the network’s key funders and administrative partners.