— in expenses

The foundation has an extremely active, focused program in place working to attract quality, primary jobs to the rapid city area. Primary jobs are those jobs that bring new wealth into the community. The foundation focuses its programs on attracting manufacturing, processing, and service exporting industries. The foundation also works to help local companies expand and retain jobs. The foundation receives program revenue from leasing space to new and growing businesses in the area.during 2023, the board of directors of rapid city economic development foundation, the city of rapid city, and the economic development administration approved elevate rapid city (a related organization) acquiring the assets, liabilities, and operations of rapid city economic development foundation. The acquisition occurred to align objectives and combine the resources of the two entities to better promote and support the rapid city and black hills region. During 2023 the assets and liabilities of rapid city economic development foundation were transferred to and assumed by elevate rapid city with no cash consideration transferred between entities. The foundation was officially dissolved by the state of south dakota on december 8, 2023.